Write the meaning of cashless transaction, while discussing its advantages in detail. Write down its limitations.
Answers
Answer:
Convenience. The ease of conducting financial transactions is probably the biggest motivator to go digital. ...
Discounts. ...
Tracking spends. ...
Budget discipline. ...
Lower risk. ...
Small gains. ...
Explanation:
Cashless Society sometimes The Hard Cashless Society or THC Society are a Southern African hip hop crew from Gaborone, Botswana and Johannesburg, South Africa. The group consists of Snazz D (Julian Du Plessis), Draztik (Dave Balsher), X-Amount (Kwezi Ngcakani), Black Intellect (Jerry Kai Lewis), Fat Free (Salim Mosidinyane) & DJ IQ (who left the group, when he moved back to Queens, NY), the groupEasier consumer budgeting.
ADVANTANGES,
As digital payments are made, transactions are kept in records. Cashless payments facilitate the tracking of spending expenditure and record the movement of money. Having recorded transactions, it can help citizens to refine their budget more efficiently.[22]made later acquisitions of other like minded artists with Criminal (Alfred Chirwa), Tizeye (Tyrone Phillips) & Gemini (Thabiso Mofokeng) (the later is also a member of Groundworks) joining to form the group well known as Cashless Society.
LIMITATIONS,
With people getting online, the bad one’s are also smart enough to tackle the technology with unethical moves like hacking and phishing where if you tell then the password in any way, there is a possibility that you will lose all your hard earned penny.
People have to be very much careful while doing the online transactions as there is a higher risk of cyber attack if anycarelessness is shown by the door.