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Abstract

Humankind has evolved tremendously. It cannot be denied that there have been astounding changes in all facets of human life. One of them is the use of money in how we trade with each other. The exchange of goods through the barter system collapsed when the concept of currency was established. As times changed, the concept of currency moved from coins to paper money, and eventually to cashless forms of monetary transactions. Today, we have reached a situation where a totally cashless society is actually achievable. While cash won’t disappear from our everyday lives anytime soon, various technological innovations are working towards replacing paper money. This includes wireless payments such as credit and debit cards, digital wallets, internet banking, and the like. Without a doubt, the impact of a cashless society will be monumental

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