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Advantage And Disadvantages Of Cashless

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BENEFITS
A cashless economy works mainly through the usage of digital wallets and plastic cards. The digital wallets supplement monetary transactions with the following advantages:
a. Saves Time: Today time is the most important factor and going cashless saves this most precious item in comparison to payment in cash. It does not require standing in long queues for cash withdrawals from ATMs.
b. Convenience: Convenience is another great motivator for going cashless because there is no need of carrying cash in wallets, plastic cards etc. It is very helpful in case a person is travelling or in case of emergencies for payments.
c. Secured: Today going cashless ensures the safety of cash in case of thefts or other similar accidents. It is conducted in a very safe and secured environment with latest defense grade technology and secured protocols for ensuring the safety of transactions from fraudulent activities as well. Also it is easy to block an account or card rather than recovering cash in case of theft.
d. User Friendly: Apart from being secured it is also very much easy to use making it most user friendly experience for payments.
e. Attractive Incentives and Discounts: Many companies and banks today provide several types of discounts and offers for conducting cashless transactions. Though this is done to promote cashless transactions it is a method to incentivize the customers.
f. Tracking Spending Attitude: When there are lesser or no cash transactions it is very easy

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