Currency notes have been replaced by plastic money and now its all about electronic money . Discuss advantages and disadvantage.

These days most of the people prefer to pay via cards or through net-banking so uses of cash
has been reduced
Suggestion
have been reduced
drastically. Virtual
money
has taken the place of physical
money
.
This
essay will throw some light on both pros and cons of using payment gateways over cash.
To begin
with the advantages,
firstly
it allows you to pay to a person residing in a remote location.
For instance
, now parents do not need to visit their kid's school to pay their fees
,
Accept space
,
they can do it comfortably while sitting at home only.
Another
Suggestion
Other
benefits of
this
is, a person’s time is saved as now he does not need to visit banks or ATM, and wait in long queues to withdraw
money
. In early age, when people used to go outside for shopping they used to make sure that they have enough
money
with them, but now its not required as most of merchants allow to pay thr
ough
Suggestion
to use
debit cards, credit cards or banking application. Admittedly, there are some disadvantages too. One of the main issue with
this
is safety. Cyber crime has increased so much that there are possible chances of vulnerability. Hackers may hack your online banking password, and easily access your all
money
. Another problem is for old age people who are not as te
chnology f
Suggestion
technologically
riendly as youngsters and may experience discomfort while using e-
money
. In conclusion, I will say that it is a good development and people should use cards or banking application as long as it is done carefully.

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