Question

do we need cashless transaction? what are the types of cashless transaction​

Answer 1

Answer:

In cashless transactions, payments are made or accepted without the use of hard cash. This includes payments made via credit/debit cards, cheques, DD, NEFT, RTGS or any other form of online payment that removes the need for cash

Explanation:

Top 5 Payment Methods for Cashless Transactions

Banking Cards (Debit/Credit/Others) ...

Mobile Card Readers (PayPal, Square) ...

Point of Sale. ...

Mobile Wallet Applications. ...

Direct Deposit and Direct Debit.

Cashless payments eliminate several business risks at a time such as theft of cash by employees, counterfeit money, and robbery of cash. Moreover, it also reduces costs of security, withdrawing cash from bank, transporting, and counting.