The Covid-19 pandemic has accelerated the transition to cashless payments in most Southeast Asian countries to facilitate contactless transactions and further curb the spread of the virus.
Nevertheless, it is also crucial for us to be cautious because the method also has some drawbacks without us knowing it.
Indeed, cashless payment has become the most preferred payment method for both consumers and sellers in this pandemic era.
However, the blind use of cashless payments can have numerous adverse effects on people’s well-being, especially poor consumer behaviour, which is defined as a process through which an identifiable consumer group actually makes buying decisions.
Read more
Nevertheless, it is also crucial for us to be cautious because the method also has some drawbacks without us knowing it.
Indeed, cashless payment has become the most preferred payment method for both consumers and sellers in this pandemic era.
However, the blind use of cashless payments can have numerous adverse effects on people’s well-being, especially poor consumer behaviour, which is defined as a process through which an identifiable consumer group actually makes buying decisions.
Read more
Why Cashless Economy means social exclusion
