March 18, 2012 5:09 PM
[h1]Sweden moving towards cashless economy[/h1]
But there are pockets of resistance. Hanna Celik, whose family owns a newspaper kiosk in a Stockholm shopping mall, says the digital economy is all about banks seeking bigger earnings.
Celik says he gets charged about 5 Swedish kronor ($0.80) for every credit card transaction, and a law passed by the Swedish Parliament prevents him from passing on that charge to consumers.
"That stinks," he says. "For them (the banks), this is a very good way to earn a lot of money, that's what it's all about. They make huge profits."
[emoji]169[/emoji] 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.