From the Publisher: Super interesting piece, and the takeaway is that iZettle is working with Ikea to offer their technology in the toy cash machines for kids at the stores to learn about different ways to manage their money. Also noted in the story is the fact that Sweden is heading toward becoming a cashless society by 2020. I firmly believe that we Americans are a very smart people, but the pace of innovation is blindingly quick and we need to work with our government and private sectors to make sure out country keeps up with – and indeed ahead of – the fintech curve.
Education is an integral part of the financial ecosystem, yet it often overlooked. Future generations of our species will live in a world where digital payments are the norm. Ikea, together with iZettle, will embark on an education tour about cashless payments. An exciting initiative, to say the least. This news comes at a critical time for the payment sector.
iZettle CEO and Co-founder Jacob de Geer told the media: “Connecting iZettle’s card reader to iKea’s toy cash register allows children to practice different ways they can process and manage their finances. It’s time we use today’s technology to educate and inspire tomorrow’s entrepreneurs on how they can build and grow a successful business.”
Sweden seems to be on the cusp of going cashless by the year 2020. In doing so, the country would be the world’s first to get rid of cash for other payment solutions. Other countries around the world are leaning towards ditching cash as well. However, they have not undertaken significant efforts to do so just yet.