Answer to Question #265214 in Microeconomics for Lakshmi k

Question

Do we need cashless transactions what are the modes of cashless transactions

Answer 1

We need cashless transactions because it helps to curb corruption and the flow of black money which results to an increase in economic growth.

Modes of cashless transactions are; banking cards which consists of the credit and debit card, cheques and mobile card readers such as PayPal.