Do you still carry cash in your wallet? Do you actually have a wallet? Or have you transitioned to e-wallets and digital currency?
The future of money and the analysis of the development of the cashless society which includes the analysis of the means to achieve it and the analysis of the challenges and benefits it can bring, have been studied and discussed by academia on a regular basis in Europe since the early 2010s.
New payment solutions as disruptive technologies, emerging payment technologies, emerging payment business models, biometric payments, integrity, and privacy, and the design of new payments and technologies continue emerging.
Sweden goes from being the first in adopting banknotes in Europe in 1661 to introducing its own digital currency in 2021, and becoming the first world’s cashless society in 2023.
India could be a ‘cashless model’ for the world .. Growing smartphone use and crashing data costs have helped cashless economy to grow immensely.
Cashless society is happening. There’s no turning back !
Click link to read more in this BCG post.
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