Noncashbased
Noncashbased refers to transactions or economic activities that do not involve the direct exchange of physical currency. This encompasses a broad range of financial dealings that utilize instruments other than cash. Examples include payments made through checks, credit cards, debit cards, electronic fund transfers, and digital wallets. In essence, any financial settlement that relies on a ledger, a financial institution, or a digital platform rather than physical money falls under the noncashbased category.
The rise of noncashbased transactions has been driven by several factors, including convenience, security, and the
While noncashbased systems offer numerous advantages, they also present challenges. Issues such as transaction fees, potential