Finance: what is a cashless society?

As advanced in a previous article, the world of finance has changed and people are using more electronic payment solutions. We are, thus, moving towards a cashless society. What exactly is that? This is simply an economic concept or state where all financial transactions are conducted through the transfer of digital information instead of cash and coins. These types of societies are not new. For example, ages ago, exchanges were completed via the barter system which is based on the cashless idea.

Cashless society is based on e-payments