Wednesday, October 8, 2025

Latest

Norway Bucks Cashless Trend With New Payment Legislation

Norway implemented new legislation on October 1, strengthening consumers’ right to pay with cash. This move came in response to the country’s rapid shift towards a cashless society, which had left an estimated 600,000 Norwegians who struggle with digital transactions at a disadvantage.

The changes to the Financial Agreements Act, adopted by the Norwegian parliament in June 2024, aimed to clarify the situations in which customers have the right to use cash. Justice Minister Emilie Enger Mehl emphasized that the new rules ensure that non-digital citizens have the same payment opportunities as everyone else.

While Norway has seen a trend of businesses in major cities rejecting cash in favor of card and mobile payments, the government views cash as crucial for both social inclusivity and emergency preparedness. 

The Directorate for Social Security and Emergency Preparedness continues to recommend that all Norwegians keep some cash on hand, citing the vulnerability of digital payment systems to potential attacks or failures.

The legislation is also seen as a preparedness measure in an increasingly uncertain world. Minister Mehl highlighted the importance of being ready for scenarios such as long-term power outages, system failures, or digital attacks that could disrupt electronic payment methods.

“This will be a change in the law that will stand the test of time, both for the sake of social security and for the sake of the individual, so that people who use cash do not fall outside society,” Mehl said in a statement.

A public committee, established by the government to explore ways of ensuring safe and simple payments for all citizens in the future, is due to submit its report to the Ministry of Finance by November 15, 2024.


Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Norway Says It Will Continue Supplying Fuel to US Navy Despite Company Boycott

Norwegian marine fuel supplier Hattbakk Bunkers demonstrated its support for Ukraine by announcing it would...

Monday, March 3, 2025, 12:13:00 PM

Ray Dalio Changes His Mind: Cash Isn’t Trash Anymore, At Least For Now

Shortly before he announced his retirement from hedge fund Bridgewater Associates yesterday morning, Ray Dalio...

Wednesday, October 5, 2022, 10:14:00 AM

Cat Videos Prevent Expansion of Norwegian Munitions Factory

One of Europe’s largest ammunition manufacturers is facing a peculiar conundrum — it’s been unable...

Tuesday, March 28, 2023, 02:18:00 PM

Norway in Turmoil as Government Collapses Over EU Electricity Policy

Norway was thrown into chaos as high energy prices and disputes over EU energy policies...

Friday, January 31, 2025, 10:26:00 AM

Scandinavian Unions Escalate Tesla Strike, Forming Nordic Port Blockade

In the latest development of the ongoing Tesla (NASDAQ: TSLA) strike in Sweden, Scandinavian solidarity...

Wednesday, December 6, 2023, 08:05:59 AM