• Wednesday, June 29, 2022


The advantages of a cashless society

By: Eastern Eye Staff

In this century, technology plays an increasingly important role in society and people’s lives. We can do many things via the internet easily and quickly, especially in payment, transfer, savings, play, invest and almost anything. Nowadays, the internet banking system can support a cashless society in many ways.

During this time, the COVD-19 outbreak is still in Thailand. Many businesses are designing campaigns to support New Normal, increasing safety measures and distances and reducing exposure. A cashless society is another option in the era of the COVD-19 pandemic.

A cashless society is a modern economic climate where financial transactions are made without real money in the form of banknotes or coins. It is a transfer of money via an electronic system that we can transfer money in a bank account to various recipients through the application or scanning OR Code, e-Wallet payment, transfer via bank application. You can transfer money from the PayPal system. Also, you can book accommodation, air tickets by using a debit or credit card.

Moreover, the increasing number of people who use the internet in society has become a fundamental factor in our daily lives. Almost everyone has Smartphone and start using social media applications. It seems that technology is becoming a part of everyday life. The internet usage of Thai people has doubled, and of course, it is increasing the number of online banking transactions. The cashless society in Thai society is becoming more widespread as well.

Benefits of a cashless society

  • Safety life

We can reduce exposure, reduce germs by using online banking transactions or online payment. Cash, whether it be banknotes or coins, are all sources of germs. Especially during the Covid-19 epidemic, spending money or making a payment through the OR Code function or various systems for shopping or paying bills inevitably reduces the infection rate caused by contact, which matches the concept of doing Social Distancing very well.

  • Convenient

Online transactions are convenient, fast, and proficient. You don’t need to queue at the bank or in front of ATMs anymore. You can make financial transactions 24 hours via smartphones, whether withdrawing, transferring, or paying with a modern application system and OR Code function. You just turn on the camera and scan, and then you can handle personal transactions immediately.

  • Security

Create more security in financial transactions No need to carry cash or stand and press money in a lonely place. Either debit or credit card transactions through the mini EDC machine are monitored and recorded at all times in real-time. More importantly, every spending is also entered with a secret code to secure your spending.

However, a cashless society is a complementary tool that makes us more comfortable. But every time before you make a transaction, you need to check the website or platform carefully. In particular, you need to check the online transactions on various websites to make sure that the website is reliable or not. When choosing a site for online gambling free credit, you need to select the widely known and licensed one before conducting online transactions through that site.

Eastern Eye

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