Nowadays, it is more common to carry out secure payments via numerous mobile apps in most of the developed countries. In my opinion, I think that there are several advantages associated with payments made through mobile apps despite the minor drawbacks that are part of this development.
Despite the drawbacks below, I believe the benefits acquired by making mobile e-payments has far more advantages contributing to the country's economy. Firstly, it is extensively easy to pay using the various mobile apps, as it is time-saving and user friendly, and also avoids the risk of handling cash, especially for a large amount. The younger generation, for instance, is extremely fluent with cell phone apps when compared to the elderly group. Secondly, tech companies offer multiple lucrative deals to lure people into making payment through their registered apps. Finally, smartphone apps do not restrict their users to a specific geographic location. This gives the app consumers the freedom to pay for anything while being in their comfort zone.
Admittedly, there are some issues involved in making payments via mobile apps. One problem is that, as all the transactions are carried out virtually in this method, there are possibilities for the transaction to fail. Furthermore, the user has to be more vigilant throughout the whole payment process, and also track the failed payments, if any. For example, few popular e-commerce giants, allow the user to track the failed payment, and re-do or cancel it. Another significant negative aspect is that, in most of the under-developed countries, the percentage of mobile app usage is still distinctively very low, and as a result, the minority users in rural areas will be ignorant of the mobile payment offers that are available.
In conclusion, although there are numerous issues with payments made using smartphones, the development associated with the advantage of e-payments plays a vital in boosting a country's economy.
Nowadays, it is more common to carry out secure
payments
via numerous mobile apps in most of the
developed countries
. In my opinion, I
think
that there are several advantages associated with
payments
made through mobile apps despite the minor drawbacks that are part of this development.
Despite the drawbacks below, I believe the benefits acquired by making mobile e-payments has far more advantages contributing to the country's economy.
Firstly
, it is
extensively
easy to pay using the various mobile apps, as it is time-saving and
user friendly
, and
also
avoids the
risk
of handling cash,
especially
for a large amount. The younger generation,
for instance
, is
extremely
fluent with cell phone apps when compared to the elderly group.
Secondly
, tech
companies
offer multiple lucrative deals to lure
people
into making
payment
through their registered apps.
Finally
, smartphone apps do not restrict their
users
to a specific geographic location. This gives the app consumers the freedom to pay for anything while being in their comfort zone.
Admittedly
, there are
some
issues involved in making
payments
via mobile apps. One problem is that, as all the transactions
are carried
out
virtually
in this method, there are possibilities for the transaction to fail.
Furthermore
, the
user
has to
be more vigilant throughout the whole
payment
process, and
also
track
the failed
payments
, if any.
For example
, few popular e-commerce giants,
allow
the
user
to
track
the failed
payment
, and re-do or cancel it. Another significant
negative
aspect is that, in most of the under-
developed countries
, the percentage of mobile app usage is
still
distinctively
very
low, and
as a result
, the minority
users
in rural areas will be ignorant of the mobile
payment
offers that are available.
In conclusion
, although there are numerous issues with
payments
made using smartphones, the development associated with the advantage of e-payments plays a vital in boosting a country's economy.