In many countries, paying for things using mobile phone apps is becoming increasingly common. Does this development have more advantages or more disadvantages?

Technology has seen a drastic change in the recent years. In the fast-paced routine, introduction of digital mode of payments has made life more convenient and better and thus most of the countries prefer paying for their transactions through e-commerce payment apps. In this essay, I will examine the pros and cons of these apps and why I feel that they are a boon to the people. Firstly, mobile apps have simplified the process of making payments. Unlike old times, one does not require to carry liquid money with them rather they can pay digitally with just a click by linking their bank accounts with the app. For example, applications like Paytm, Google Pay and Phone Pe requires only bank details to be used. Secondly, money can be transferred to people living in distant areas. Instead of paying via cheque or depositing cash in bank, one can do NEFT which send the amount in a few minutes. Therefore, using cellphone apps are chosen over traditional paying system. On the contrary, these advancements have paved the way for hackers. Since all the details of banks are available in a software, it becomes easy to gain control even after high security defenses. By sending viruses in phones, all the data can be exploited and information can be used for wrong purposes. Moreover, those with less knowledge can be fooled. In other words, seniors who are not well versed with the system are the main targets to practice the tricks on. Since all the credentials are automatically saved in the phone, some cons hypnotize the veterans by asking their CVV numbers and withdraw cash. To conclude, cellphone applications for paying are an added benefit for humans as it saves time and has made distant transfers easy. Furthermore, the disadvantages like hacking can be minimized by educating people and spreading awareness.