Cashless Society in the United States: The Feasibility of Integrating the Unbanked Population
Open Access
Author:
Bucks, Carter
Area of Honors:
Finance
Degree:
Bachelor of Science
Document Type:
Thesis
Thesis Supervisors:
Brian Spangler Davis, Thesis Supervisor Brian Spangler Davis, Thesis Honors Advisor Louis Gattis, Jr., Faculty Reader
Keywords:
Cashless Society Unbanked Financial Inclusion
Abstract:
This paper will examine the possibility and feasibility of a cashless society in the United States. The purpose of this paper revolves around the ability for the United States to continue innovating in the digital payments industry, while integrating the financially underserved population. Various population demographics will be studied in this paper, but the primary target will be the unbanked population. The feasibility will be evaluated with an original pilot project, combining the efforts and technologies of various companies. Social and economic cost-benefit analyses will be used to showcase the feasibility of integrating the underserved population into the rapidly growing digital payments market. A proposal was created to assist in the reduction of the financially underserved population in the United States, as the country inevitably trends toward a cashless society.
