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

has

also

changed. Electronic

money

has took

Suggestion

has taken

the place of

paper

money

such

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

this

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

instead

of

paper

money

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

bills or

Accept comma addition

bills, or

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

For instance

, to buy expensive

products paying

Accept comma addition

products, paying

with

Suggestion

by

card is much convenient for customers.

Moreover

, Using electronic

money

also

leverages

security

Suggestion

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

. People can travel with as much

money

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

more safer

Suggestion

safer

more safe

and comfortable.

Inspite

Suggestion

In spite

of aforementioned pros, there are many negative

apsects

a distinct feature or element in a problem

aspects

of using electronic

money

. The main disadvantage of eradicating

paper

money

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

money

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

.

other

Suggestion

Other

critical downside electronic

money

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

money

very

efficiently which

Accept comma addition

efficiently, which

repels them from adapting

this

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

paper

money

for

puchases

obtain by purchase; acquire by means of a financial transaction

purchases

. So giving away the

paper

money

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

money

has pros, but

also

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