Abstract
The subject of Cashless Economies continues to be a topic of conversation as countries around the world seek to move more towards digitals methods of conducting financial transactions. The purpose of this article is to determine whether transitioning towards a cashless economy could stimulate the overall economic development and provide more revenue for South Africa. A descriptive research approach was undertaken. The study was quantitative and it was used to uncover patterns and characteristics from the random population which undertook the study. Eighty participants took part in completing the questionnaire for the study. The results obtained showed larger amount of the population being readier to transition towards a cashless economy. The results also indicated that security was a main concern to a larger audience, although even besides that the usage of mobile and internet transacting among all age groups and gender was significantly high. The findings show that government should pay close attention to cashless services as this may facilitate to better tax compliance from all who are trading within the South African economy. Value was created by conducting research that could determine the effects of implementing cashless services and policies that enable such services in a country that is still regarded to be developing.