Digital payments have revolutionized the way people pay for
goods and services. With the advancement of mobile apps, users are able to make
payments with a few clicks rather than going through lengthy processes and
paying in cash. Merchants can accept digital payments through credit card
terminals, or other payment service providers such as PayPal or Google Wallet.
When you think of it, digital payments are more convenient than cash
transactions. Stores don’t need to keep large amounts of cash on hand and customers
don’t need to carry wads of bills with them whenever they want to pay for
things. In this article, payment specialist Firoz Patel will explore the pros
and cons of a cashless society, what the future may hold for digital payments,
how much cashless transactions cost retailers, and more.
