The debate on cash versus credit card has been going on for some time. Credit is still a fairly new concept within the history of finance; so many people would rather stick with paper money. According to you, which is a better payment method, cash or credit? Give reasons for your answer and include any relevant examples from your own knowledge or experience.

With the execution of demonetization, payment method becomes a hot potato of discussion. While some favor credit cards, many people still prefer cash citing the reason that credit is still newer in the long history of finance. In this essay, I will elaborate on why I feel that credit cards are a convenient payment method as compared to physical currency. There are definite advantages of virtual currency. Firstly, people do not have to keep rupee notes in their wallets and just a card is sufficient to make any transaction. Secondly, there is a certain limit of the physical currency people can carry, however, this drawback is not faced by virtual money. For instance, I visited the Apple store, last month to buy a new phone, which is worth 150, 000 rupees, it would have been mighty inconvenient to carry that large sum of money in cash. But as I had a credit card, I could travel with a lighter pocket without any worries about lost or drop cash somewhere during traveling from the source to destination. Further, cash has its own inherent disadvantages like there is no trail of the transaction as this happens off-paper. Thus, mostly paper money is used in bribing and consider as a source of corruption. For example, I was once asked a bribe of 500 rupees by a traffic policeman as I forgot to carry a driving license with me. To conclude, due to the merits of credit card payment like convenience, safety offered in comparison to a cash payment, I firmly believe that virtual currency is the superior method to physical notes.