Changes in lifestyles
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Computers have significantly impacted modern lifestyles and cultural practices through social and work changes. A cashless society relies on non-cash payments like credit/debit cards, prepayment cards, ATMs, and smart cards to facilitate electronic commerce without physical money. While offering convenience, a fully cashless system faces economic, consumer acceptance, privacy, and security challenges.
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Changes in lifestyles
- 2. Introduction Computer use now affects our daily lives in many ways, some more obvious than others. It is called Social Impact They affect cultural practices, rules of behaviour, ways of doing business and other work-related activities.
- 3. Cashless Society It means a society that would not need to handle money in the physical form of notes or coins. Types of Non-Cash payment Credit and Debit Cards Prepayment Cards ATMs Smart Cards E-commerce (Electronic Commerce)
- 4. Credit and Debit Cards Debit Card Spend using Card Cash deducted from account immediately Credit Card Spend Now Pay later
- 5. ATMs Automatic Teller Machine Allow you to withdraw money Allow you to pay bills
- 6. Smart Card Looks like an ATM card. Multipurpose databank which stores personal biodata, medical history account banks, etc. Makes use of embedded microchip More secure Can perform other functions
- 7. Barriers of cashless society Economic Hurdles Consumer Resistance Privacy Concerns Counterfeits