TITLE:
Transitioning to Cashless Society: Challenges and Opportunities for Small Business
AUTHORS:
Walied Askarzai, Bhuvanesh Unhelkar
KEYWORDS:
Cashless Society, Small Business, Business Strategies, Digital Payment Systems
JOURNAL NAME:
Open Journal of Business and Management,
Vol.13 No.6,
November
27,
2025
ABSTRACT: The concept of a cashless society has emerged as a prominent research subject, with scholars exploring its advantages and disadvantages extensively. A review of the existing literature identifies a significant gap in understanding its positive and negative implications for small businesses. This gap is particularly noteworthy given that small businesses constitute a substantial proportion of gross domestic product (GDP) and experience high levels of foot traffic. Addressing this research gap is essential to generate interest and engagement among stakeholders. This study, by critically examining the effects of a cashless society on small businesses, not only fills this gap but also offers valuable insights into this underexplored area. The study adopts a quantitative research approach. Primary data were collected through an online structure survey questionnaire (N242). The Mann-Whitney Rank, Cronbach’s and Kolmogorov-Smirnov tests were employed to analyse data using Statistical Packages for Social Sciences (SPSS). Word Cloud and Excel-generated graphs are also used to analyse data. The study findings suggest that a cashless society has positive implications for small businesses, conditioned continued support is provided throughout the evolving landscape. This should make the audience feel optimistic and hopeful about the future of small businesses in a cashless society. The findings of this study have significant practical implications for small businesses considering operating in a cashless society. By highlighting these implications, the study equips the reader with valuable insights for navigating the future of a cashless society, thereby enhancing their business strategies and operations and making them feel prepared and equipped.