Cashless society

In a cashless society, financial transactions are not conducted with physical banknotes or coins, but instead with digital information (usually an electronic representation of money) Cashless societies have existed from the time when human society came into existence, based on barter and other methods of exchange. Cashless transactions have also become possible in modern times using credit cards, debit cards, mobile payments, and digital currencies such as bitcoin. The trend towards the use of non-cash transactions and settlement in daily life began during the 1990s when electronic banking became common. By the 2010s, digital payment methods were widespread in many countries, with examples including PayPal, digital wallet systems such as Apple Pay, contactless and NFC payments by electronic card or smartphone, and electronic bills and banking, all in widespread use. Some countries now set limits on transactions and transaction values for which non-electronic payment may be legally used. Under Massachusetts law from 1978, no businesses in the state of Massachusetts can "discriminate against a buyer by requiring the buyer to pay with cash". It was the oldest state of the U.S. to require the ability to pay by credit card.