Undoutedly, it has been observed that paper currency are disappearing among the people because more number of individuals are choosing to use electronic transaction rather than banknotes. Some 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 so, without pincode it is nothing harmful. In addition to that these methods are not has detrimental impact on environment because there is no any requirement of paper so we can save the trees. While currency notes are drought of papers. Furthermore, government can easily finds the black money by keeping the history of people money trasfer. Eventually, person can gets discount or cashback. Obstensibly, online transaction is not imperative at all time. The prime reason is cyberfraud and 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 requrement of internet connectivity is an inevitable. In conclusion, I firmly belive that plastic money if fruitful for all. However it has some drawbacks which can be alleviate by proper management and in future it will replace conventional currency.
Undoutedly
, it has
been observed
that paper currency are disappearing among the
people
because
more number of individuals are choosing to
use
electronic transaction
rather
than banknotes.
Some
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
so
, without
pincode
it is nothing harmful.
In addition
to that these methods are not has detrimental impact on environment
because
there is
no
any requirement of paper
so
we can save the trees.
While
currency notes are drought of papers.
Furthermore
,
government
can
easily
finds
the black
money
by keeping the history of
people
money
trasfer
.
Eventually
, person can
gets
discount or cashback.
Obstensibly
, online transaction is not imperative at all time. The prime reason is
cyberfraud
and 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
requrement
of internet connectivity is an inevitable.
In conclusion
, I
firmly
belive
that plastic
money
if fruitful for all.
However
it has
some
drawbacks which can be
alleviate
by proper management and in future it will replace conventional currency.