What is the importance of mobile payments?
In addition to paying bills, the user can easily transfer amounts of money to other people. However, the greatest facility is to carry out payment transactions without the need for inter-mediation by a financial institution. A cashless society may seem like something out of science fiction, but we are already on our way. Several powerful forces are behind the move to a cashless world, including governments and large financial services companies. Even critics of the dominant financial system and the coins issued by the government contribute to the elimination of money. But we are not there yet. In addition to logistical challenges, we need to address several social issues before giving up money entirely. The benefits and drawbacks below can give you an idea of the myriad effects that cashless can have on money and banking, as you know it. Benefits of cashless society Less crime : With money, it is easy to steal money, whether the amount is large ...