List Of Countries That Apply Cashless Systems, Australia To Elig Cash Machines

Illustration of cashless system payment (photo: Unsplash/Clay Banks)

YOGYAKARTA - The current tools and payment systems have undergone a transformation from manual to digital following the times. Digital technology has presented many new innovations that are useful in facilitating everyday life.

One form of innovation in finance is the cashless or non-cash payment system. Cashless payments make it easier for people to make buying and selling transactions or businesses.

You can make payments without the need to use cash or conventional methods. Through a cashless system you only need an e-wallet or a digital wallet for the payment instrument. When you do a witness with a cashless system, the muscle of the money in your e-wallet will be reduced according to the purchase bill.

The cashless payment system has been used massively for business purposes in various countries. Many people choose to use this payment system because it offers more convenience and security than cash payments.

Countries that Apply Cashless Systems

There are several countries in the world that have implemented a cashless payment system. The following countries encourage their people to use a cashless payment system for transaction needs.

China is one of the countries that implements a cashless payment system on a large scale. The country with the largest population in the world is recorded to have a fairly high cashless use rate. Based on data, cashless transactions in this country have been carried out up to 55% of the total transactions.

The cashless system in China can be used through various digital platforms, starting from Alibaba's WeChat Pay or Alipay. This non-cash payment system is not only done by the domestic community. However, many foreign tourists in this panda country also use cashless.

South Korea is another Asian country that also implements cashless payment methods. People in the country use payment cashless through the WeChat Pay and Alipay applications. Payment systems are carried out for various needs, such as buying train tickets to shopping for goods.

Another country that implements payment cashless is Australia. The use of cashless payment systems in this Kangaroo country is even mass. The Australian government removed cash payment machines. The number of cash transactions in the country is only 4%.

It can be said that almost all people in Australia have switched to using cashless payment methods through digital banking provided by banks. People choose cashless payments because transactions can be made easier and safer.

Sweden is one of the European countries that implements a cashless payment system. The developed country uses a non-cash payment system with a wide scope. It is already difficult to find people in Sweden who make cash payments. The majority of the people there are already dependent on cashless payments through digital banking.

In addition to using services from the bank, Swedish people also use a payment application called Swish for cashless transactions. The Swedish app is very popularly used for various transaction needs.

Another European country that also implements a cashless payment system is the UK. Many British people choose cashless payments to make various transactions, such as buying bus tickets, shopping for minimarkets, and others.

Payment cashless, which is widely chosen by the British public, is payment via credit card, online payment, and contactless payment.

Those are some countries that implement cashless payment systems. The more time people from various other countries will definitely use cashless payments for various transactions. The manual payment method will be replaced by cashless payment because it is easier, safer, and faster.

Stay up to date with the latest domestic and foreign news on VOI. You present the latest and most recent nationally and internationally.