It is true that the turning to cashless society brings both benefits and drawbacks. In my opinion the advantages weigh more in significance.
To start with the negatives of this trend, there are two of them. First of all, digital payment systems are vulnerable to cybercrime and tracking. For example, it can be difficult for digital immigrants who may avoid using modern applications. Without help of banking accounts those may become an online fraud victim. Secondly, these disadvantages can also come from system failures and internet connectivity issues. When network fail, people may be unable to complete transactions, and sometimes those may be lost their money. Therefore, this trend may seem negative, but it only seems.
However, despite elderly people and digital immigrants suffering, public takes advantages from this situation. For example, digital payment makes transactions faster and convenience than usual. In the past, people carried huge bags that full of money to pay tax or payments, but now they use only small tap and screen for paying. Moreover, online transactions help governments to monitor transactions. This is because information about money transfers is automatically stored on computers of apps itself, which improve security and reduce illegal activities.
In conclusion, although old people can sometimes suffer from digital transactions, being victims of online crimes. More importantly, increasing digital payments provides many opportunities to manage their finances and keep more time.