While some persons are of the opinion and I personally agree that holding physical money is not important and that all forms of bills should be paid online, many are of the claim that the use of paper money still has its merits. This essay will help to explain further.
On the one hand, lack of network in some regions is the main reason while some people are of the belief that the use of cash still has its benefits. They are of the suggestion that not all areas around the globe have networks to carry out online transactions and therefore the need to hold capital. For example, only about half of the world's population make use of the internet, as reported by the daily magazine early this year. Due to the fact that the use of the internet is not common around the world, they opine that the use of cash would still be beneficial in some regions.
On the other hand, others would argue and I concur that payments should be digital because it is convenient. This is because, unlike with using cash where one would need to join long queues in the banking hall in other to withdraw their funds, bills can be made within seconds using one's mobile device. For instance, the result of a study carried out by a professor of finance showed that a significant proportion of individuals prefer the use of online banking relative to holding physical capital because of its convenience. Due to the fact that payment for goods and items can be made easily and with less stress, I am of the notion that payments should be made digitally.
In conclusion, despite the fact that many prefer the use of physical cash because of the lack of cellular service in some parts of the world, I strongly belief that the use of online payment platforms is more convenient.
While
some
persons are of the opinion and I
personally
agree
that holding physical money is not
important
and that all forms of bills should
be paid
online
,
many
are of the claim that the
use
of paper money
still
has its merits. This essay will
help
to
explain
further
.
On the one hand, lack of network in
some
regions is the main reason while
some
people
are of the belief that the
use
of
cash
still
has its benefits. They are of the suggestion that not all areas around the globe have networks to carry out
online
transactions and
therefore
the need to hold capital.
For example
,
only
about half of the world's population
make
use
of the internet, as reported by the daily magazine early this year. Due to the fact that the
use
of the internet is not common around the world, they opine that the
use
of
cash
would
still
be beneficial in
some
regions.
On the other hand
, others would argue and I concur that
payments
should be digital
because
it is convenient. This is
because
, unlike with using
cash
where one would need to
join
long queues in the banking hall in other to withdraw their funds, bills can
be made
within seconds using one's mobile device.
For instance
, the result of a study carried out by a professor of finance
showed
that a significant proportion of individuals prefer the
use
of
online
banking relative to holding physical capital
because
of its convenience. Due to the fact that
payment
for
goods
and items can
be made
easily
and with less
stress
, I am of the notion that
payments
should
be made
digitally
.
In conclusion
, despite the fact that
many
prefer the
use
of physical
cash
because
of the lack of cellular service in
some
parts of the world, I
strongly
belief that the
use
of
online
payment
platforms is more convenient.