Argumentative Text : Cashless Society

What is a cashless society?

• A society that uses only coins

• A society where transactions are done without using cash

• A society that bans all financial transactions

• A society that uses only foreign currency

• A society where all payments are made in gold

Which of the following is NOT used in a cashless society?

• Credit cards

• Mobile payment apps

• Debit cards

• Coins

• Electronic bank transfers

What is one main advantage of a cashless system?

• Increased pollution

• No online banking

• Greater convenience

• Longer payment processes

• Higher chance of misplacing money

Why are thieves less interested in targeting people in a cashless society?

• People carry more cash

• There are no wallets anymore

• Transactions are not recorded

• Money becomes invisible

• There’s no physical cash to steal

How does a cashless society reduce financial crime?

• Encouraging illegal gambling

• Making all cash disappear

• Providing more bank

• Tracking every payment

• Hiding the source of money

What is one economic benefit of going cashless for businesses?

• Paying higher taxes

• Lower cash-handling costs

• Hiring more cashiers

• Opening more branches

• Printing their own money

Which of the following best describes the impact on international travelers in a cashless world?

• Need to carry multiple currencies

• Must use traveler’s checks

• Don’t need to exchange local currency

• Will avoid spending money abroad

• Must use only cash in foreign countries

What can happen during a technical outage in a cashless society?

• Cash becomes available

• Prices drop instantly

• People cannot make purchases

• Wi-Fi becomes stronger

• Coins are reissued

What are hackers compared to in the passage?

• Pilots

• Police officers

• Bank robbers and muggers

• Doctors

• Cashiers

What may force banks to raise customer costs in a cashless world?

• Customer satisfaction

• Profit from cash handling

• Negative interest rates

• Lower salaries

• More ATM usage