In many countries paying things using mobile phone apps is becoming increasingly common. Does this development have more advantages or more disadvantages?

In

this

modern era, technology is increasing rapidly and mobile

phones

are no exception. It has found recently, people are making payments to various merchants using their

phones

.

This

trend has very much in a boom in developed as well as developing nations.

This

essay is going to examine its benefits and its flaws,

likewise

, it is

also

going to throw up in a light that how the pros outweigh the cons. On the one hand, cell

phones

have become an integral part of everyone's life.

First

and foremost, it has made every individual's life very easy and most convenient.

For example

, nowadays, people do not have to carry any liquid and plastic

currency

to pay their dues.

Hence

, mankind does not have to worry about any fraud or robbery. Another use of the payment

apps

is the history of

transactions

that get recorded electronically and never disappears. Google Pay and Paytm is the best example of

this

payment app; on which humans can see recent and past

transactions

as and when required without any malfunctioning.

Further

, it will easily convert the

currency

hassle-free. To elaborate more, if anyone is travelling abroad

then

they do not have to worry about the

currency

converter. They just have to pay via smartphones and the payment app will convert the

currency

using the current rate. Over and above, they

also

have some offers as, cash-back or discounts while paying using

phones

apps

.

On the contrary

, the use of pay

apps

sometimes causes cyber attacks. To be more precise, credit cards or debit cards and bank

transactions

have many layers of the verification process, but in

this

mode, there is no

such

option and

that is

why there are more chances of hacking your information.

Moreover

, these

apps

require the internet to proceed with money

transactions

. If we talk about India,

then

there are many villages which are not well versed with the technology and so that they do not have the internet facility. To conclude, admittedly, every technology has its own drawbacks mainly, cyber-attacks and security concerns; even so, in my opinion, the benefits exceed penalties because they allow instant transfer of money from anywhere and at any time. The security concerns can be mitigated to a great extent by taking adequate precautions.