Benefits of a cashless society Essay

It quite a littlenot be denied that there is a wide variety of benefits to be gained by a connection from a cashless system. In a ordination where time is as important as money, going cashless rump be a big help since the main benefit that a society can realize from a cashless system is convenience. A cashless system can be convenient when doing minutes in banks, restaurants, hospitals, airlines, obtain malls, supermarkets, and even in vending machines. Who would have thought that a small piece of plastic phone card can do wonders for men? preferably of having a hard time finding the exact tot up of coins or cash in ones pocket to pay for a cup of hot chocolate or a can of soda in a vending machine, a soul can just insert this piece of plastic card through the slot. Instantly, the exact amount of his purchase is deducted accurately from the amount on the card. Can one imagine how dirty money is? The money that keeps on freeing from hand to hand is dirty. Numerous hands p ull up stakes handle this money until it becomes worn out and be recalled and replaced by the organization. The handling of money from one individual to another provides an easy way for bacteria to distribute quickly.Cashless transactions in restaurants get out provide for proper hygiene since the staff will no night ample have to handle cash and at the same time handle the food being served. Instead of go in line and paying for food that has gone cold due to having waited so long to be served, an employee can now enjoy his break from office, and will therefore be encouraged to go back and patronize the restaurant. Likewise, a person will no durable suffer the inconvenience of falling in line in supermarkets, shop malls and hospitals to pay their bills at the cashier.Since there will no longer be cash to steal, bank and store robberies will cease to occur. There will also be a precipitate in attacks on cashiers, storekeepers, taxi drivers, and shoppers. There will be a decrea se in crime rates, and so society will no longer have to pay enormous amount of tax dollars to go after the criminals. There is no more reason for society to reside about these crimes. The change from cash to electronic money payment will also help the politics in their collection of unpaid taxes. The taxes can be automatically deducted from a persons account.The government will no longer have to spend much money in tracking go through tax evaders. Income tax rates can be lowered as a result and the study debt will be greatly reduced. Drug trafficking will also cease to occur since anomalous transactions will be detected electronically. It will also be difficult for some bulk to lap money since a cashless system will be able to tell how much money was debited or credited in a particular bank account. Not having to print money will certify to be advantageous to the government since it will mean security and cost savings.Counterfeiting of paper currency will now be a thing of the past. In a cashless society, printing of paper money will no longer be necessary. When previously a person will have to buy stamps and envelopes to chain mail checks as payments, a person can now easily complete cashless transactions. Even on age when the banks are closed, a person can make transactions provided he has internet connection. A person can also make purchases without the use of cash. He can buy products through the internet when he is at home or with the use of credit cards when he in a shopping mall.In a cashless society, instead of paying with cash, employers can have the amount credited to their employees account. This is being make with the use of the Automated Teller Machine (ATM). The employer is then spared from the expense, added time, and inconvenience of going to the bank to withdraw the salaries. It has been utter that cashless transactions have been around since the 1960s. But it has been more prevalent in todays society. Today, people benefit from c ashless transactions through the use of ATMs, debit and credit cards, prepayment cards, the smart cards, or the mobile cash.A handful of people who are against a cashless society have brought up a number of disadvantages such(prenominal) as security and privacy being lost. With proper analysis and study, these drawbacks can be solved. Despite their concerns, it seems transparent that the advantages to be gained from it far outweigh the disadvantages. For in a society that prefers convenience and cost savings, having a cashless society will prove to be more beneficial. REFERENCE Our cashless Future (27 June 2007). TadpoleNet. Tadpole Technews News and Politics. . . Accessed 29March 2008.