I don’t think a 100% cashless society is even a possibility, it has its pros and cons. Digital currency like credit/ debit cards, online transfers, etc. are very convenient and quick, and they are more than welcome in today’s fast economy. Most people today avoid carrying wads of cash, and they definitely hate carrying change. So digital currency makes it easy, but it increases risks as well. A lot of people complain about wrong charges, card frauds, card thefts, etc., and this keeps a lot of people away from adopting cards.
People also face issues keeping track of budgets and expenses, as no one ever knows how much he/ she is spending. This, in turn, increases credit card debts, and a lot of people end up declaring bankruptcy. And as James mentioned, it helps escape taxation. And, for people who are trying to maintain their credit scores, wouldn’t want to increase their credit card bills.
Also, as an immigrant, it’s very difficult to obtain a credit card. People sometimes don’t have permanent addresses or not enough money in the bank to get a credit card. A lot of people don’t even have bank accounts. If you’re a tourist and don’t have an international credit card, then how would they end up paying?
I think going 100% cashless would affect the economy adversely. It might look like it’ll make it easier, but in the long run, it will create a lot of issues.