Swedbank CEO predicts cashless future


PHOTO: Arvo Meeks / Valgamaalane

Swedbank Estonia CEO Priit Perens has said he is 80 percent sure that, by 2030, technological alternatives will have practically replaced cash, ERR News reported.

“We are all laboring towards that goal and I am sure the tax board is too. The less cash, the more transparent the economy is, and the more effective the circulation of payments,” Perens said in an interview with KPMG Foorum magazine.

“It all depends on the economy. If we and Europe do well, then I see a cashless future. Other reasons could cause people to increase using physical money, as a sign of protest, for example,” added Perens.