Undoubtedly, it has been observed that paper currency are disappearing among the people due to the fact more number of individuals are choosing to use electronic transaction rather than banknotes. a number of people assert that disadvantages outweigh the advantages. I partially agree with that.
Irrefutably, plastic money has plethora of benefits and security is one of them. To elaborate it, credit cards and debit cards are easy to carry at anywhere as compare to traditional notes. By chance if, someone theft your card consequently, without pin code it is nothing harmful. In addition to that these methods are not has detrimental impact on environment owing to the fact that there is no any requirement of paper so we can save the trees. While currency notes are drought of papers. Furthermore, government can easily find the black money by keeping the history of people money transfer. Eventually, person can get discount or cashback.
Ostensibly, online transaction is not imperative at all time. The prime reason is hacking. Because of that, card owner some time gets trouble of big financial loss. Moreover, baby boomers and illiterate people find difficulties to use such kind of system and operate that requirement of internet connectivity is an inevitable.
In conclusion, I firmly believe that plastic money if fruitful for all. However, it has some drawbacks which can be alleviated by proper management and in future it will replace conventional currency.
Undoubtedly
, it has
been observed
that paper currency are disappearing among the
people
due to the fact more number of individuals are choosing to
use
electronic transaction
rather
than banknotes.
a
number of
people
assert that disadvantages outweigh the advantages. I
partially
agree
with that.
Irrefutably
, plastic
money
has plethora of benefits and security is one of them. To elaborate it, credit
cards
and debit
cards
are easy to carry at anywhere as compare to traditional notes. By chance if, someone theft your
card
consequently
, without pin code it is nothing harmful.
In addition
to that these methods are not has detrimental impact on environment owing to the fact that there is
no
any requirement of paper
so
we can save the trees.
While
currency notes are drought of papers.
Furthermore
,
government
can
easily
find the black
money
by keeping the history of
people
money
transfer.
Eventually
, person can
get
discount or cashback.
Ostensibly
, online transaction is not imperative at all time. The prime reason is hacking.
Because
of that,
card
owner
some
time
gets
trouble of
big
financial loss.
Moreover
, baby boomers and illiterate
people
find difficulties to
use
such kind of system and operate that requirement of internet connectivity is an inevitable.
In conclusion
, I
firmly
believe that plastic
money
if fruitful for all.
However
, it has
some
drawbacks which can
be alleviated
by proper management and in future it will replace conventional currency.