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A cashless society may sound like a science fiction novel, but it’s on the way. Many of today’s financial practices and transactions are already cashless, and many financial institutions, service providers, and even governments are advocating this transformation.

Benefits of going cashless

Quick and Easy

Payment transactions using a cashless system are certainly more convenient because they are more efficient and faster. You don’t need to have cash when you make a payment or wait for a change. You can go out immediately after payment. In addition, payments with cashless systems are much safer.

Because the amount of money paid through the cashless application is in accordance with the nominal payment you must pay, you will not notice any difference. You also don’t have to be concerned if your money is misplaced, as you would if you carried cash in your wallet. This is because the balance in your cashless application has a password-protected security mechanism.

Anywhere, Anytime

Traditionally, payment transaction sometimes can be annoying since you need to worry when running low on cash. But now with various of payment method provided, you don’t have to worry anymore. If you looking for a product in a mobile app or a website, you may pay with most favorite choice of people online banking, Certainly this will make it easier for you to shop more and conveniently.

Reduce the spread of COVID-19

Due to the current epidemic, implementing cashless payments fits with social distancing measures and minimising contact to the utmost feasible. The World Health Organization (WHO) has claimed that the usage of banknotes might be a role in the spread of Covid-19 since the virus can persist on paper for up to 28 days.

As previously said, cashless purchases result in speedier transaction speeds and reduced waiting time, minimising congestion in physical establishments.