
Pros and Cons of Cashless Policy to Economy Growth
In recent years, cashless policies have gained popularity worldwide, especially in developed countries, as a way to enhance the efficiency and security of financial transactions. Cashless policy, as the name implies, refers to the adoption of electronic means of payment in place of physical cash.
A cashless policy is a government or business decision to encourage or require the use of electronic payment methods, such as debit and credit cards, mobile payments, and online banking, instead of cash for financial transactions.
The goal of a cashless policy is to reduce the use of physical cash, which can be costly to produce, store, and transport, and can also be susceptible to theft and counterfeiting.
The cashless policy is aim to increase efficiency, reduce the informal econ...