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Cashless Payment Systems

Cashless Payment Systems are ways that consumers can make payments without using physical cash

  • Also called Digital Payment Systems
  • Examples include:
    • Credit Cards
    • Debit Cards
    • RFID Chips
    • Cell Phones
    • Venmo
    • Paypal

100% Cashless Payment System Concerns

  • There is no way to purchase goods if the power or internet goes out
  • Every transaction can be tracked by governments (eroding privacy)
  • Currency can be frozen in bank accounts (in times of crisis) leaving citizens no way to purchase goods

Warnings and Disclaimers

The information contained herein is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. It is not designed to meet your personal financial situation - we are not investment advisors nor do we give personalized investment advice. The opinions expressed herein are those of the publisher and are subject to change without notice. It may become outdated an there is no obligation to update any such information.

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