Many modern financial processes and transactions are now taking place without the use of currency. To be more specific, a cashless society is one in which financial transactions are conducted without the usage of cash (including paper and coin currencies).
Instead, all transactions are conducted electronically, with debit or credit cards or payment Services.
Like two sides of a coin, a cashless society has its own advantages and weaknesses.
The first advantage of cashless society is convenience. People do not need to carry cash when they want to make a transaction.
Another advantage is that crime rates are lower. Carrying cash makes people a high-value target for thieves.