In 2018 a former deputy governor of Sweden's central bank predicted that by 2025 the country would probably be cashless.

Seven years on, that prediction has turned out to be pretty much true. Just one in 10 purchases are made with cash, and card is the most common form of payment, followed by the Swedish mobile payment system Swish, launched by six banks in 2012 and now ubiquitous. Other mobile phone payment services are also growing quickly.

In fact, according to the central bank's annual payments report, published this month, Sweden and Norway have the lowest amount of cash in circulation, as a percentage of GDP, in the world.

But in the context of today, with war in Europe, unpredictability in the US and the fear of Russian hybrid attacks almost a part of daily life in Sweden, life without cash is not proving the utopia that perhaps it once promised to be.