Denmark hopes to boost its economy by eliminating cash

The Danish government said today that it wants to allow gas stations, clothing stores, and restaurants the option to stop taking cash payments, a move that could accelerate a huge shift toward credit, debit, and alternative payment systems.

The measure is part of a larger set of 50 proposals (in Danish) from Denmark’s ministry of finance that aim to make it easier to do business in the country and boost economic growth.

Currently, Danish companies are required to accept cash payments, which “involve considerable administrative and financial burdens,” the finance minister, Bjarne Corydon, said.