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Cashless Effect

People spend more when they can't actually see the money

The cashless effect describes our tendency to be more willing to pay when there is no physical money involved in a transaction. It means that we are more likely to purchase something on a credit card than if we have to pay for it with cash.



As a company, if you want people to spend more money then you should offer a “Credit” Application right next to big purchase amount. You can also try the “Buy Now Pay Later” model as well.