Currency notes have been replaced by plastic money and now its all about electronic money. Discuss advantages and disadvantage. v.1
Currency notes have been replaced by plastic money and now its all about electronic money. Discuss advantages and disadvantage. v. 1
These days most of the people prefer to pay via cards or through net-banking so uses of cash has been reduced drastically. Virtual money has taken the place of physical money. This essay will throw some light on both pros and cons of using payment gateways over cash.
To begin with the advantages, firstly it allows you to pay to a person residing in a remote location. For instance, now parents do not need to visit their kid's school to pay their fees, they can do it comfortably while sitting at home only. Another benefits of this is, a person’s time is saved as now he does not need to visit banks or ATM, and wait in long queues to withdraw money. In early age, when people used to go outside for shopping they used to make sure that they have enough money with them, but now its not required as most of merchants allow to pay through debit cards, credit cards or banking application.
Admittedly, there are some disadvantages too. One of the main issue with this is safety. Cyber crime has increased so much that there are possible chances of vulnerability. Hackers may hack your online banking password, and easily access your all money. Another problem is for old age people who are not as technology friendly as youngsters and may experience discomfort while using e-money.
In conclusion, I will say that it is a good development and people should use cards or banking application as long as it is done carefully.
These days most of the
people
prefer to
pay
via
cards
or through net-banking
so
uses
of cash has been
reduced
drastically
. Virtual
money
has taken the place of physical
money
. This essay will throw
some
light on both pros and cons of using payment gateways over cash.
To
begin
with the advantages,
firstly
it
allows
you to
pay
to a person residing in a remote location.
For instance
,
now
parents do not need to visit their kid's school to
pay
their fees, they can do it
comfortably
while sitting at home
only
. Another benefits of this is, a person’s time
is saved
as
now
he does not need to visit banks or ATM, and wait in long queues to withdraw
money
. In early age, when
people
used
to go outside for shopping they
used
to
make
sure that they have
enough
money
with them,
but
now
its not required as
most of merchants
allow
to
pay
through debit
cards
, credit
cards
or banking application.
Admittedly
, there are
some
disadvantages too. One of the main issue with this is safety. Cyber crime has increased
so
much that there are possible chances of vulnerability. Hackers may hack your online banking password, and
easily
access your all
money
. Another problem is for
old
age
people
who are not as technology friendly as youngsters and may experience discomfort while using e-money.
In conclusion
, I will say that it is a
good
development and
people
should
use
cards
or banking application as long as it
is done
carefully
.
5Linking words, meeting the goal of 7 or more
17Repeated words, meeting the goal of 3 or fewer
2Mistakes