MGT411 GDB Solution

Question:

"Kindly name those factors that promote our society towards cashless society along with
solid reasons"

Solution:

Some factors are as follows that leading our society towards cashless society.

1-Information Technology:
In the presence of ATM , credit cards and debit cards , no body like cash payments. IT and
payment technologies” such as smart cards or ATM machines enable people to make payments
more safely and securely.
2- Efficient payment instruments become need:
Now customers are more demanding and sophisticated.
3-Cash environment:
Cash environment is not much secure and also costly as it requires face to face meeting, which
are not affordable incase of long distances, it doesn’t support remotely transactions.