What do you understand by a "Cashless society" ?

An economic state whereby financial transactions are not connected with money in the form of physical bank notes or coins An economic state whereby financial transactions are connected with money in the form of physical bank notes or coins Financial transactions are made through the transfer of digital information (usually an electronic representation of money) between the transacting parties Both 1 and 3

Both 1 and 3

A cashless society describes an economic state whereby financial transactions are not connected with money in the form of physical bank notes or coins but rather through the transfer of digital information (usually an electronic representation of money) between the transacting parties.