LIVE Course for free

Rated by 1 million+ students
Get app now
0 votes
55 views
in Economics by (35.7k points)
closed by

What are the advantages of cashless payments or plastic money?

1 Answer

+1 vote
by (36.0k points)
selected by
 
Best answer

Advantages of cashless payments or plastic money: 

  • It reduces the burden of carrying cash while traveling. 
  • It is easy to use plastic money like debit cards and credit cards. 
  • It will restrict the inflow of duplicate money as cash is not used at all. 
  • Fear of loss of money while traveling will not be there. If the card is lost we can inform our banks and get all transactions stopped.
  • Corruption and black money transaction will be controlled as all transactions will be done through banks which will bring transparency to our transactions. 
  • We also get a credit period if payments are made through credit cards.

Related questions

0 votes
1 answer
0 votes
1 answer
0 votes
1 answer
asked Dec 24, 2021 in Economics by RidhiKumari (35.7k points)

Welcome to Sarthaks eConnect: A unique platform where students can interact with teachers/experts/students to get solutions to their queries. Students (upto class 10+2) preparing for All Government Exams, CBSE Board Exam, ICSE Board Exam, State Board Exam, JEE (Mains+Advance) and NEET can ask questions from any subject and get quick answers by subject teachers/ experts/mentors/students.

Categories

...