It is often said that credit and atm cards will supersede the use of traditional banknotes and coins. I believe that this development will lead to a cashless society which will be advantageous for everyone.
Notably, the increasing number of online shopping platforms allow consumers to participate in the online commerce. With this, many ways to pay, aside from cash are arising. For instance, Lazada and Shoppee offer customers wide range of payments from cash to credit and debit cards as well as digital payments. Therefore, people can have the ordered items at the doorstep without worrying to personally pay in cash to the courier.
Moreover, fastest growing malls have made transactions easier at the checkout counter by using cards. This includes stores from clothes to appliances and food to medicines. Store accepting cards allows people to pay transactions even in the absence of cash in just one swipe or dip. Bank cards has now upgraded and have made transactions quicker than ever through the help of paywave feature. As a result, it provides convenience and hassle free from ques in atm withdrawals.
Online and physical stores have started to use digital wallets. Modern monetary exchange such as Gcash, Paypal, Paymaya, Wechat, Alipay and Grabpay are quite helpful and safer. It does not require a lot of requirements to open an account. Hence, MPIN and OTP (one time password) is needed to log in and access its features, users are assured that their money and transactions are safe. This system would enable governments to track and record every transaction, leaving no loopholes for fraudsters to exploit thereby stimulating economic growth.
To recapitulate, coins and bills are still usefull in the economy, however, we cannot disclose the fact that technological advancements will continue to grow and improve the banking system. The use of bank cards and continuous upgrade of digital wallet will definitely lead to a safer and more convenient cashless system in which the whole society will benefit.
It is
often
said that credit and
atm
cards
will supersede the
use
of traditional banknotes and coins. I believe that this development will lead to a cashless society which will be advantageous for everyone.
Notably
, the increasing number of online shopping platforms
allow
consumers to participate in the online commerce. With this,
many
ways to pay, aside from
cash
are arising.
For instance
,
Lazada
and
Shoppee
offer customers wide range of payments from
cash
to credit and debit
cards
as well
as digital payments.
Therefore
,
people
can have the ordered items at the doorstep without worrying to
personally
pay in
cash
to the courier.
Moreover
,
fastest
growing malls have made
transactions
easier at the checkout counter by using
cards
. This includes stores from clothes to appliances and food to medicines. Store accepting
cards
allows
people
to pay
transactions
even in the absence of
cash
in
just
one swipe or dip. Bank
cards
has
now
upgraded and have made
transactions
quicker than ever through the
help
of
paywave
feature.
As a result
, it provides convenience and hassle free from ques in
atm
withdrawals.
Online and physical stores have
started
to
use
digital wallets. Modern monetary exchange such as
Gcash
,
Paypal
,
Paymaya
,
Wechat
, Alipay and
Grabpay
are quite helpful and safer. It does not require
a lot of
requirements to open an account.
Hence
,
MPIN
and OTP (one time password)
is needed
to log in and access its features, users
are assured
that their money and
transactions
are safe. This system would enable
governments
to
track
and record every
transaction
, leaving no loopholes for fraudsters to exploit thereby stimulating economic growth.
To recapitulate, coins and bills are
still
usefull
in the economy,
however
, we cannot disclose the fact that technological advancements will continue to grow and
improve
the banking system. The
use
of bank
cards
and continuous upgrade of digital wallet will definitely lead to a safer and more convenient cashless system in which the whole society will benefit.