05-15-2010, 07:25 AM
[COLOR="red"]Question:
Kindly name those factors that promote our society towards cashless society along with solid reason?[/COLOR]
Solution
Some Factors are as follows that leading our society towards cashless society.
1 Information Technology:
In the presence of ATM, Credit cards and debit cards, no body like cash payments. IT and payment technologies such as smart cards or ATM machines enable people to make payments more safely and securely.
2 Efficient payment instruments become need:
Now customers are more demanding and sophisticated
3 Cash enviroment:
Cash enviroment is not much secure and also costly as it requires face to face meeting, which are not affordable incase of long distances, it doesnot support remotely transactions.
Kindly name those factors that promote our society towards cashless society along with solid reason?[/COLOR]
Solution
Some Factors are as follows that leading our society towards cashless society.
1 Information Technology:
In the presence of ATM, Credit cards and debit cards, no body like cash payments. IT and payment technologies such as smart cards or ATM machines enable people to make payments more safely and securely.
2 Efficient payment instruments become need:
Now customers are more demanding and sophisticated
3 Cash enviroment:
Cash enviroment is not much secure and also costly as it requires face to face meeting, which are not affordable incase of long distances, it doesnot support remotely transactions.