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What is a cashless payment?
Cashless payments are a payment method whereby funds are transferred from the payer's account to the recipient's account without using cash. Such transactions are used for both personal and budgetary purposes. In Ukraine, this mechanism is regulated by law and controlled by the NBU. Let's look at the main types of non-cash payments that are actively used in the financial sector today.
The most common options are:
- payments via a mobile application (for example, GlobusPlus);
- transactions using bank cards;
- electronic transfers between accounts;
- payments through payment terminals;
- transactions via Internet banking.
Each of these options has its own specific features and applications. It is important to understand their advantages and limitations in order to choose the most convenient method for a particular situation. At the same time, all of them ensure reliable and secure transfer of funds.
Main forms of cashless payments
The modern financial system offers a variety of tools for making payments without using cash. The choice of a particular form depends on the needs of the parties to the settlement and the specifics of the transaction. In the financial system, direct payments can be made in various ways, each of which has its own area of application.
Let's look at the main forms of non-cash payments that are most commonly used in monetary transactions:
- payment orders — the most common form, which involves transferring funds on behalf of the account holder;
- letter of credit — a guaranteed form of payment where the bank acts as an intermediary;
- collection order — an automatic debit of funds in favour of a supplier;
- bill of exchange — a debt document in a prescribed form;
- scheduled payments — regular automatic transfers of a fixed amount.
When choosing a form of payment, it is important to take into account the specifics of a particular transaction and the requirements of all its participants. This will help make the process as efficient and secure as possible.
The main advantages of cashless payments
The development of technology has made cashless payments very popular. They have become so convenient and secure that more and more people are refusing to use cash.
The main advantages of this payment method are:
- speed of transactions, most payments are made in a few minutes;
- ease of use, all you need is a smartphone with the GlobusPlus application;
- full control over expenses, all transactions are recorded in history;
- increased security, funds are protected by modern encryption systems;
- 24/7 availability, the ability to make payments anytime, anywhere;
- no need to carry cash with you.
These advantages make cashless payments an ideal option for mobile banking app users who value their time and comfort. Institutions are constantly improving their systems to make them more convenient and secure.
How to make a cashless payment
Today, paying for goods and services using mobile apps has become very easy and convenient. GlobusPlus, for example, offers a simple and intuitive interface so that every customer can quickly understand how to transfer money, top up a card or exchange currency.
To make a payment via GlobusPlus, you need to:
- log in to the app and select the desired transaction;
- specify the recipient's details and enter the transfer amount;
- check the accuracy of the entered data;
- confirm the transaction.
After that, you will receive an electronic receipt, which you should keep. You may need it to confirm your payment or to request a refund.
Cashless payments are convenient, fast and secure. Thanks to modern mobile applications, such as GlobusPlus, users have more and more opportunities to manage their money efficiently.
However, when making payments, it is important to keep in mind the security rules: be careful with personal data and regularly check your transaction history. The current trend towards digitalisation and the introduction of innovative technologies such as biometric authentication helps to establish the highest level of protection. Thanks to this, every customer can conveniently and securely perform various financial transactions right from their smartphone and stay financially secure.
