What is a Cashless Society?
- No Paper money or coins
- Everything is electronic
A Cashless society would be very beneficial once everyone got accustomed to it even though it has it’s security risks and may leave some people in tough situations. Moreover having everything done electronically leaves less likelihood for error and makes things more secure.
Software and Hardware Used:-
- EPS-Electronic Payment System
- EFT-Electronic Funds Transfer
- Microchips/Smart Cards