Quick Commentary by Kurt Strawhecker, Managing Partner – TSG
As the Scandinavians are rushing to a cashless society, we thought it would be instructional to try and use cash as we visited Stockholm and Copenhagen last month – a kind of reverse psychology experiment.
We attempted to use cash in several merchant transactions, including taxis, restaurants and museums.
- We tried to pay cash to the first taxi driver we saw in Stockholm; however, he had no change to break the mid-size Swedish Kroner bill I presented to him.
- On our first night, we opened the menu of a Michelin Star restaurant, Oaxen, to be greeted by the following message: ‘we are a cash free restaurant’
- On to the popular Vasa Museum, where I offered cash for the minimal admission price. The ticket attendant looked at me with a sympathetic look and said, “But you don’t have a card?”