What is cashless payment?

Cashless payment is a payment method that does not require the use of cash.

 Instead, transactions are conducted electronically, often via credit or debit cards, mobile payment apps or other online payment methods. This method of payment is increasingly common and has become especially popular in recent years due to the rise of digital technologies.

The advantages of cashless payment are numerous. First of all, it is much more convenient than carrying cash. Consumers can easily make electronic payments using their smartphone or credit card, without having to worry about losing money or having to wait in line at the ATM to withdraw cash. In addition, cashless payments are often considered more secure than cash payments, as it is harder for thieves to steal credit card information than it is to steal cash.