Cashless payments: what are these exactly?

There are a lot of talks going around in the industry about cashless payments. There are several forms of these, such as mobile wallets. Is this term confusing? Let’s have a look at that exactly this financial innovation is. In traditional terms, this form of settlement infrastructure refers to a wide variety of methods via which a merchant and a buyer interact with each other for the purchase of goods or services. In this era where everything is digitised, tech companies are introducing more and more services which facilitate payments and remove physical cash entirely from the process.

Physical cash is not needed to pay online © Royalty-free