What is the meaning?
A cashless society is a system which allows individuals to purchase goods or services in today‘s society without the exchange of anything tangible or touchable. The term money still exists, but it is more in a secured electronic form than cash.

How is it going to work?
We all used cash to obtain goods or services that we need. The physical paper cash in form of bank notes are just a mere promissory note that must be backed up by a nation‘s central bank. The transactions we do with the bank notes are based on the trust that the central bank can "replace" the paper with something worth of its stated value. But in the cashless society, we will all be using debit/credit cards to obtain goods and services that we need and businesses would have payment gateways integrated on their website and have POS terminals installed within their premises.

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