August 3, 2016
As alluring as the concept of a cashless society looks, everything comes at a cost. And with the cashless world, the costs are often shadowed by the fascination over the idea and sweet fruits it may bear. In fact, in 2016, the cashless society is already far more than a concept – there are countries with non-cash payments’ share of total value of consumer payments being over 85%.
While some professionals emphasize the positive outcomes of going cashless, other express concerns over unexpected results such as the matter of cybersecurity, reduced privacy and increased governmental control.
Regardless of concerns, though, businesses across industries are encouraging cashless payments ( ...