CASHING OUT: ‘ELECTRONIC PAYMENTS TAKING OVER, BANKS TO ABANDON PAPER MONEY SOON’ (STA BREAKING NEWS and ARCHIVES)

by STANews , Wednesday, October 22, 2014, 07:23

More and more countries are using electronic payments instead of physical as they’re much cheaper, easily traceable and help to combat terrorism financing, money laundering, tax evasion and the black market, economist Konstantin Gurdgiev told RT.

Denmark’s Central Bank Nationalbanken plans to stop printing banknotes and minting coins by the end of 2016. It claims that people increasingly prefer to use credit cards and electronic money in transactions rather than cash.

RT: The Danish Central Bank says it's stopping printing new money because demand for banknotes is falling. Is this a global trend or one peculiar to Denmark?

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http://rt.com/op-edge/198060-denmark-electronic-money-cash-banks/