Nowadays plastic money replacements such as credit and debit cards are extremely popular, even more than banknotes and coins.

Electronic transactions are gradually replacing the traditional banking system and the usage of banknotes is being supplanted by credit and debit cards. The transformation towards a cashless society might be slow, but steady and widespread.

This

Linking Words

paradigm shift has both positive and negative consequences and

this

Linking Words

essay deals both with them. Primarily, electronic transactions and

plastic

Use synonyms

card payments are more convenient and they are processed on the go. People neither have to carry a bulk amount of cash nor write a check - which usually takes a couple of days to clear the cash. The electronic payment system is global in nature and hassle-free.

Consequently

Linking Words

, the eCommerce industry has flourished and many individuals have their own online business without any brick and mortar shop.

For instance

Linking Words

, nowadays it has become pretty easy to shop with a VISA or a Master card, virtually from anywhere in the world. Personally, I hate standing in a long queue to pay my utility bills, and my cards let me do it from home - a time saver indeed.

On the contrary

Linking Words

, the trend does not come without negative aspects.

Although

Linking Words

we can use these cards due to technological advancement, the risks of using

plastic

Use synonyms

money,

however

Linking Words

, pertain to

this

Linking Words

technology. The primary threat to

such

Linking Words

payment mode is

cybersecurity

Suggestion

and hacking.

For example

Linking Words

, once a credit card is cloned or its sensitive data is hacked, the owner would suffer a great financial loss. A technology giant like Facebook has failed to protect its user data,

for example

Linking Words

, and the misuse of user data is a global concern. Same goes for the

plastic

Use synonyms

cards and online payment systems that have the same vulnerability. To conclude, albeit some adverse effects the use of

plastic

Use synonyms

money for making and receiving payments is the need of the hour. It provides a plethora of advantages, but we have to be careful of its use.