Cashless Society of Sweden Driving Cards and Payments Industry: Ken Research REQUEST FOR SAMPLE REPORT Request For sample Report × Report Title Name Email Designation Phone No Comapny Name Comapny URL Country -- Please Select Your Country -- Afganistan Africa Albania Algeria Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Asia Australasia Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bonaire Bosnia Herzegovina Botswana Brazil BRICS British Virgin Islands Brunei Darussalam Bulgaria Burkina Faso Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Central and South America Chad Chile China Colombia Comoros Congo Costa Rica Cote d'Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Ethiopia Europe European Union Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Global Great Britain Greece Greenland Grenada Guadeloupe Guam Guatemala Guerney & Alderney Guinea Guinea-Bissau Guyana Haiti Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Ivory Coast Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libyan Arab Jamahiriya Liechtenstein Lithuania Luxembourg Macao Macau Macedonia Madagascar Malawi Malaysia Maldives Mali Malta Man (Island of) Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Middle East Minnesota Moldova Monaco Mongolia Monserrat Montenegro Morocco Morroco Mozambique Myanmar Namibia Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue North America North Korea Norway Oman Pakistan Palau Palestine Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena Saint Lucia Saint Martin Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa Samoa (American) San Marino Sao Tome and Principe Saudi Arabia Scandinavia Senegal Serbia Seychelles Sierra Leone Singapore Sint Maarten Slovakia Slovenia Solomon (Islands) Somalia South Africa South Korea South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Islands Swaziland Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor Leste Togo Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Uganda Ukraine United Arab Emirates United Kingdom United States Uruguay Uzbekistan Vanuatu Vatican City Venezuela Vietnam Virgin Islands Western Sahara Yemen Zambia Zimbabwe Requirement Submit Ken Research has announced recent publication titled “The Cards and Payments Industry in Sweden: Emerging Trends and Opportunities to 2021” which discuss detailed analysis of the industry and forecast. Report discuss various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, and transaction values and volumes during the review period and over the forecast period (2017-2021). It also offers information on the country’s competitive landscape, including the market shares of issuers and schemes. It also discusses major government regulations pertaining to cards and payments industry and marketing strategies used by various banks and other institutions. Sweden is dubbed as the most cash free society in the world with over 80% percent of transactions without the physical exchange of money. This drive to a cashless society has been supported by the UN Capital Development Fund’s Better Than Cash Alliance funded by the Bill & Melinda Gates Foundation, MasterCard and Visa among others. The Swedish has made most of this given support . Most of the people are vouching for the cash free society with the slight exception of the elderly who are finding it ..difficult to adjust to the rapid change in the payment methods. Also certain vendors are cringing about the transaction cost associated with online payments. Many banks in Sweden do not have cash. About 900 banks of the 1600 banks neither keep cash nor accept it. The shopkeepers donot want it ,the people don’t carry it. The retailers are legally entitled to refuse notes and coins. It is impossible to buy tickets on the Swedish buses and Stockholm metro with cash. According to Riksbank, cash transaction accounted to only 2% of value of all payments last year and is estimated to drop by .50% by 2020. Cards are the payment methods used the most by the people, with an average of 207 transactions per card per year. This is followed by payments through many other phone wallets , swish being the popular one. With the introduction of iZellet , a cheap and easy system designed to take card payments via a mini app and a small card reader has helped the small traders , street vendors to adopt to cash less transactions. The success of Sweden in adoption of cashless society lies in the fact that the people there were digitally ready. The proliferation of mobile phones and internet connections in Sweden is among the highest in the world, making it easier to adopt new electronic payment systems. The banks became digitized much earlier than rest of the countries 94% of Swedish are connected to the internet. The ecommerce market in Sweden is blooming. More and more household have been shifting towards online shopping. The e commerce market is currently about 6 billion Euros. The major products being sold is electronics, books, clothing and footwear. The e commerce accounts for about 6% of the total retail sales. The most preferred payment method is via invoice followed by personal bank accounts. However, recently the paymet via yhe credit card is showing the biggest growth. In 2016, Swedish banks expanded Swish, known as a extensively used mobile app for online transactions. This app was previously focused for peer-to-peer (P2P) and in-store payments. This app, Swish is owned by six Swedish banks including Danske Bank, Handelsbanken, Lansforsakringar Bank, Nordea, SEB and Swedbank. Swish has grown in popularity since its launch, with 4.9 million users in Sweden as of November 2016. In May 2016, USD 892.3 million (SEK7.5 billion) worth of transactions were performed using Swish, rising to USD 994.3 million (SEK8.4 billion) in November 2016. Contactless technology is still at a nascent stage of development in Sweden, with only a handful of banks-such as ICA Banken and Danske Bank-offering contactless cards. The number of contactless cards increased threefold from 439,707 in 2015 to 1.5 million in 2016, and is anticipated to reach 15.0 million by 2021. With a rising number of small businesses and street vendors accepting payment cards for small-value transactions, the introduction of contactless technology is expected to drive payment card transaction volumes over the forecast period. Topics Covered in the Report Sweden Cards and Payments market share Cards and Payment industry in Sweden Mobile payment market Sweden Sweden bill Payment Market Research Sweden Money Remittance Industry Alternative payment methods in Sweden Debit Card industry in Sweden Sweden Cards and payments industry trends Plastic money market Sweden Global Payment Industry Research Report For more coverage Click on the link below https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/the-cards-payments-industry-sweden-emerging-trends-opportunities-2021/74580-93.html Related Links The Cards and Payments Industry in the Philippines: Emerging Trends and Opportunities to 2021 The Cards and Payments Industry in Denmark: Emerging Trends and Opportunities to 2021 Contact: Ken Research Ankur Gupta, Head Marketing & Communications query@kenresearch.com +91-124-4230204 Tags: Alternative payment methods in Sweden, Cards and Payment industry in Sweden, Debit Card industry in Sweden, Global Payment Industry Research Report, Mobile payment market Sweden, Plastic money market Sweden, Sweden bill Payment Market Research, Sweden Cards and payments industry trends, Sweden Cards and Payments market analysis, Sweden Cards and Payments market future, Sweden Cards and Payments market growth, Sweden Cards and Payments market research, Sweden Cards and Payments market share, Sweden Cards and Payments market size, Sweden Cards and Payments market trends, Sweden Money Remittance Industry