At This Point, You Are Required To Read This Article On Cash

At This Point You Are Required To Read This Article On Cashless Socie

At this point, you are required to read this article on cashless society and automated systems. Please hit this link. As soon as you open the link, you have to hit ‘downloads’. Find the article on the top left of the new page and download it. Read it and write a paragraph (200 words or more) analysing which stakeholders and how they are influenced by the case under study.

Paper For Above instruction

The transition towards a cashless society significantly impacts various stakeholders, including consumers, financial institutions, government agencies, businesses, and technology providers. Consumers are primary stakeholders, as they experience increased convenience, security, and efficiency in transactions. However, they are also vulnerable to privacy concerns and the exclusion of those less familiar with digital technology or without access to banking services. Financial institutions such as banks and credit card companies are directly affected as their roles evolve from traditional banking to digital transaction facilitators. They benefit from reduced costs associated with cash handling but face challenges related to cybersecurity risks and technological adaptation. Governments and regulatory bodies influence and are influenced by the shift, aiming to ensure consumer protection, data privacy, and financial stability amidst increasing digital transactions. Meanwhile, businesses, especially retail and service providers, are impacted by the need to implement new technologies and integrate digital payment systems for smoother customer experiences. Technology providers and fintech companies stand as crucial drivers of these changes, developing innovative solutions that enable cashless transactions and often shaping policy frameworks. Overall, the stakeholders’ influences are intertwined, creating both opportunities for growth and risks related to security, inclusivity, and privacy in the evolving digital financial landscape.

References

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