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Benefits & Challenges of Cashless policy
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[QUOTE="Holicent, post: 301269, member: 76163"] A cashless policy can bring several benefits, such as increased efficiency, convenience, and security in financial transactions. By reducing the need for physical cash, cashless payments can be faster and more convenient for consumers and businesses. It also reduces the risk of theft, loss, or counterfeiting of cash. A cashless policy can also increase transparency, reduce the cost of managing physical cash, and boost financial inclusion. However, the cashless policy can also bring several challenges, such as the need for reliable internet connectivity and electronic payment infrastructure. It can also pose a risk of cybersecurity threats and digital fraud. It may also exclude people who do not have access to or are not familiar with electronic payment systems, leading to financial exclusion. Therefore, a balance between the benefits and challenges must be maintained to ensure a successful cashless policy. [/QUOTE]
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