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

With the rise in technology, the form of

money

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has

also

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changed. Electronic

money

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has took

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has taken

the place of

paper

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money

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such

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as coins and bills. There are both positive and negative impacts of

this

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change. To embark with, the main advantages of using bank cards

instead

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of

paper

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money

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are convenience and security. People can make transactions and transfers quickly and with ease. There is no need to carry

bills or

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bills, or

coins for any purchase which is preferable for both buyer and seller.

For instance

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, to buy expensive

products paying

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products, paying

with

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by

card is much convenient for customers.

Moreover

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, Using electronic

money

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also

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leverages

security

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the security

of individuals. They are less likely to be robbed or attacked

buy

Used in specifying adjacent dimensions

by

thieves for the sake of

money

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. People can travel with as much

money

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they want without the fear of getting lost. Overall, with the introduction of bank cards, both sellers and consumers feel much

more safer

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safer

more safe

and comfortable.

Inspite

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In spite

of aforementioned pros, there are many negative

apsects

a distinct feature or element in a problem

aspects

of using electronic

money

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. The main disadvantage of eradicating

paper

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money

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is the rise in scams and false phone calls. Many organizations are working to fool people via phone or email to steal their

money

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online. Scammers access the bank accounts of people by

manupulating

influence or control shrewdly or deviously

manipulating

them and take out all of their

money

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.

other

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Other

critical downside electronic

money

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has brought is the accessibility for uneducated people. They are not able to deal with new forms of

money

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very

efficiently which

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efficiently, which

repels them from adapting

this

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change. As per recent studies, the older age groups prefer

paper

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money

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for

puchases

obtain by purchase; acquire by means of a financial transaction

purchases

. So giving away the

paper

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money

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completely is not welcomed by everyone. To conclude, not only electronic

money

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has pros, but

also

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it is not able to conquer all people. There are still some age groups who are not confident to adapt it.