cashless payment systems

Cashless payment systems enable transactions without physical money like coins or bills. Instead, they use digital methods such as debit/credit cards, mobile apps, or online banking. When you pay, the system securely transfers funds electronically from your account to the seller’s account. These systems are convenient, quick, and reduce the need for handling cash, and they often include security features like encryption to protect your information. Common examples are paying with a card at a store, using a mobile wallet, or making online purchases, streamlining everyday transactions with digital technology.