The Danish government has proposed getting rid of the obligation for selected retailers to accept payment in cash, moving the country closer to a “cashless” economy.
Nearly a third of the Danish population uses MobilePay, a smartphone application for transferring money to other phones and shops, and Sweden, Denmark and Finland lead the European Union in credit card payments per inhabitant.
Denmark’s biggest bank and owner of MobilePay, Danske Bank, has taken steps to prevent fraud by linking the app to NemID, a digital signature linked to the Danish equivalent of individuals’ National Insurance number.
Ritchie’s wet dream that is. Linking every transaction in the economy to the tax records of one known individual. And given that Ritchie’s in favour of it I’m agin it of course.