A ‘cashless society’ is one where people use debit/credit cards and other forms of payment instead of cash. Do the advantages of cashless society outweigh the disadvantages?

Nowadays, relying on debt and

credit

cards is becoming exceedingly popular. Many people use their phones to pay for things in shops and online. If

this

trend continues, we may become a ‘cashless society’ which has both pros and cons. In my view, the benefits overcome negatives, and in

this

essay, I will discuss both sides and try to provide some reasons to support my opinion. Let’s begin by looking at the advantages. One of the main benefits of modern payment is that it is extremely convenient.

This

is because ​people these

days neither

Accept comma addition

days, neither

have

Suggestion

has

to carry a bulk amount of cash nor write a check, and

also

transactions are relatively simpler.

In other words

, international payments

also

would be more easier among different countries.

For instance

, when you visit a foreign country, you may need to buy local currency, but payments are easy if both nations can handle cashless transactions. ​Another positive

of

Suggestion

for

​cashless society is that it helps to boost the economy of the country. Indeed, the digital transactions are always recorded which makes it easy for the government to claim the tax due to it.

Furthermore

, it will reduce the chance of fraud and the black money. Overall, cashless transactions ensure transparency in the society. For another benefit, it can be very helpful in emergency situations.

For example

, when your cash has been stolen far from home, you could afford to buy a ticket to return home with a

credit

card. Turning to the other side of the argument, one of the biggest downsides is

cybersecurity

and hacking.

Infact

Suggestion

In fact

, when a

credit

card is cloned or its sensitive data is hacked, the owner would suffer a great financial loss.

In addition

, people in the villages of developing countries do not know how to use

credit

cards.

This

also

poses a threat when they accidentally divulge the secret number of their

credit

cards and lose their hard earned money. All things considered, cashless society has some negatives of insecurity.

However

, it provides a plethora of advantages of convenience and helping people and government, but we have to be careful of its use.