Today, we are living in a technological era, where
day
by
day
, we are relying more on digital types of equipment to complete our task. It is an undeniable fact that people started doing online
payments
more nowadays.
Although
, it a highly debatable issue that whether
this
kind of
payment
method brings advantage or disadvantage to human beings. In
this
essay, I will discuss both merits and demerits of
this
trend and will provide arguments related to it.
To commence with, the mobile
phone
has become a necessary part of our life where we depend on our
phone
for many routine tasks
such
as alarm, reminder,
payment
, GPS and the most important is making calls to our close one. The mobile
phone
is the greatest invention of science which holds many advantages in terms of digital
payment
.
For instance
, now individuals do not need to carry lots of cash for shopping because they can directly make
payment
through the banks in a few seconds.
Furthermore
, it a secure way of doing small or large
payments
. To illustrate it
further
, nowadays, mobile
payments
became the
first
preference of businessmen to make
payment
because it reduces the chances of theft of cash.
On the other hand
, even though the digital
payment
method holds many prons but there are
also
some cons with it.
Firstly
, cybercrime is increasing
day
by
day
and not all apps are secure.
Thus
many crimes related to money is getting reported.
For example
, by using technology hackers can hack an online
payment
app and can deposit money into their account.
Secondly
,if one lost their
phone
then
it can be a major risk because we store everything in our phones
such
as credit card or debit card details. By using these details anyone can make online
payments
easily.
lastly
, not everyone has a bank account and by doing online
payments
we are stealing business from small business owners who depend on their daily cash income.
To put it in a nutshell, I pen down saying that
although
, digital
payment
option has some major disadvantages its advantages outweigh its disadvantages.
Moreover
, people should be aware of online fraud and they should not trust all website for
payments
. The government should
also
take strict actions against hackers.