Electronic money or e-money, has been a trend lately because of the pandemic COVID 19. These electronic moneys can be exchanged into a physical form, primarily used for electronic transactions due to the convenience of using it. Since the pandemic, people are not allowed to go out, lockdowns everywhere and social distancing protocol has been implemented. Because of that, people turned into more accessible mode of payment to online stores, paying bills and etc.
But before the pandemic, people are using online banking, online accounts and other to shop. It is not new to those people who are using it back then. We can see here that there is a trend or shift into using cashless payments. Soon all people will use e money. There will be no cash, thus shifting into a cashless society.
Yes. That is right.