IMPACT OF CASHLESS TRANSACTIONS ON THE SOCIETY

Abstract

The research paper focuses on the impact of cashless transaction in the society. It studies the views of various categories of people on the cashless economy. Cashless economy is an economic system in which there is little or very low cash flow in a society and goods and services are bought and paid through electronic media. Cashless economy is the economy in which transactions are made by debit cards, credit cards, cheques or direct transfer from one account to another. A study was conducted in Coimbatore city with the respondents of 150 and the data was collected with the help of structured Questionnaire and was further analyzed using (SPSS) for the tools percentage analysis, correlation and ANOVA. The study shows that the introduction to cashless economy in the city can be seen as a step in right direction.