Trend Towards a Cashless Society

The COVID-19 pandemic has accelerated the adoption of cashless payment methods as people become more cautious about handling physical cash due to concerns about virus transmission. Many businesses have also started to prefer contactless payment methods to minimize physical contact. Now, digital payment methods offer convenience, speed, and security to consumers. Transactions can be completed quickly and easily without the need to carry physical cash or wait in long lines at banks. No wonder. Many governments around the world are encouraging the adoption of cashless payment methods. For example, in India, the government has launched the Digital India campaign to encourage the use of digital payment methods, and in China, various initiatives are being implemented to encourage the use of mobile payment methods

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