Denmark becomes first country to go cashless – retailers ditching cash as of January 2016

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A cashless society is “no longer an illusion,” according to Danish Bankers Association executive director Michael Busk-Jepsen. All this is made possible by Denmark’s high adoption of electronic and mobile payments. Danske Bank announced that it had 2.2m users of MobilePay, a money transfer service – more than a third of the country’s entire population of 5.6m.

Cash would be still be accepted by essential services such as hospitals, pharmacies and post offices, but the move would essentially leave krone notes and coins redundant.

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