entire 2000s. the number of cash withdrawals has been around sek 320 million. does this mean that we have reached a lower limit for how much the use of cash can decline? has the heyday of the account - based payments ended? i do not believe we should be so sure of that. cash is still expensive to transport and manage and a heightened risk of robbery in recent years has not made cash management cheaper. in the end, it is we consumers who pay the costs in different ways. however, we must probably point out that we swedes like our cash more than most analysts believed a few years ago. how then have the account - based payment instruments developed? the use of cards has increased rapidly card payments have increased rapidly in sweden in recent years. in ten years the value of card payments has almost quadrupled and the number of payments by card has increased sevenfold. six years ago, in 2002, for the first time ever more card payments were made in payment terminals than atm cash withdrawals. in the most recent statistics available, from 2006, card payments in payment terminals were three times more common than atm cash withdrawals. if one calculates in terms of the number of transactions, cards are now the most used account - based payment instrument. like cash, card payments are mainly used for payments that are made at the actual time of the transaction. according to a 2006 temo survey, 45 per cent of those questioned used cards as legal tender in at least four of five purchases. 3 the value of an average card payment has almost halved in the past ten years, from around sek 730 to around sek 380. we are then using cards to a greater degree to pay smaller amounts. in this way cards increasingly appear to act as a substitute to cash. this is particularly so in the case of younger people, which is indicated in a study recently published by the riksbank. 4 the economist, 17 - 23 february 2007. the stock of banknotes and coins totalled sek 114 billion on 31 december 2007. sveriges riksbank. “ allmanhetens syn pa bankerna ” ( the swedish public ’ s opinion of banks ), temo survey, march 2006, the swedish bankers ’ association. bergman, guibourg and segendorf, “ the costs of paying – private and social costs of cash and card ”, working paper series, ( no. 212 ), sveriges riksbank, september 2007. moreover

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