Evaluating the Benefits Associated with Steering South Africa towards being a Cashless Society.
Ratshitanga Lindokuhle, Dr Pius Oba

Abstract
As the world continues to move towards digitalisation, conversations around the benefits of shifting towards more digitised means of conducting payments and financial transactions continue to make waves. This article seeks to contribute towards these conversations through the analysis of the benefits that will arise once this transition is embraced.This research report has reviewed current literatures and opinions on the successes yielded by cashless and digitised means of conducting transactions as well as factors that affect the use and adoption thereof. These factors include consumer demographic characteristics, consumer perceptions together with social influences.A qualitative research approach was utilised in an attempt to understand the habits and patterns displayed by the selected sample of the population around this subject matter and illicit a deeper understanding of these potential benefits. The results uncovered that cash remains an undeniable reality for many South Africans, with essential services and day to day necessities still requiring an extensive use of cash. However, the declining market share of physical cash as a payment medium is clearly evident. The findings of this study support the notion that a shift towards a cashless society will benefit South Africa and will have direct positive effect on the economy.

Full Text: PDF