- Denmark plans to lower the cash payment limit from 20,000 to 15,000 kroner in March 2024
- Digital transactions already dominate retail purchases in Denmark
- By 2023, digital payments will make up almost 90% of all transactions in physical stores
- Despite the digital trend, cash is still used for personal transactions and by tourists
- Cash was used for about 12.5% of shop payments in 2021
- The reduction in cash payment limit aligns with Denmark’s goal to become a fully digital economy
- The initiative promotes digital payments while recognizing the importance of cash for certain segments and transactions in Danish society.
Source: fiscal-requirements.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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