Adoption of cashless Economy: A Review Nasir Ahmad Zargar , Rossanto Dwi Handoyo, Unggul Heiqbaldi, Kabiru Hannafi Ibrhim, umar Ali, Erika Nafatul Ula
Department of Economics, Faculty of Economics and Business, University of Airlangga Surabaya, Indonesia
Department of Economics, Faculty of Social and Management Sciences, Federal University, Nigeria
Department of Economics, Faculty of Economics and Business University of Kashmir Srinagar, India
Abstract
The adoption of cashless economies has become a popular trend globally. Cashless transactions provide convenience, security, and faster processing times compared to traditional cash payments. This research used the literature review to provide an overview of the adopted literature on cashless economies, including their drivers and barriers. The study uses a Meta analysis methodology. The review highlights the role of technology, government policies, and social factors in shaping the adoption of cashless economies. Additionally, the review discusses the implications of the adoption of cashless economies for businesses and consumers, including potential risks such as cybersecurity threats and the exclusion of individuals without access to digital payment systems. The review concludes with recommendations for stakeholders to promote the adoption of cashless economies while addressing the challenges associated with this transition. Overall, this review provides valuable insights into the current state of the adoption of cashless economies and the factors that influence it.
Keywords: cashless economy, e-payment, e-commerce, digital payment.
