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

Nowadays, the revolution in technology changes our life to a great extent. Making
cash
of purchase through mobile phone app gains a lot of limelight these days.
Hence
,
this
development benefits us in plenty of ways with few drawbacks which would be discussed in the upcoming paragraphs. To commence with, in
this
era of technology and globalization , all spheres of life have changed dramatically,
similarly
online payment is not an exception. There are ample advantages of
this
development
firstly
, it is a feasible method for making large
cash
.
For instance
, buying a television with
cash
is quite inconvenient as it is very difficult to carry a huge amount of
cash
.
Secondly
,
this
method is totally safe as there is no risk of robbery. Sometimes, an unplanned shopping visit ends up purchasing a lot of things which is only possible by Mobile phone app.
In addition
to it, one can make outlay all over the globe for buying any product. Like every coin has two sides,
similarly
, there are few disadvantages of
this
trend
also
. As people spend more money than required because it does not give them a feeling of expenditure.
Moreover
, we are living in a fast-paced world today,
therefore
, one might do
cash
to the wrong number. Even chances of technical errors ate
also
high. In a nutshell, like every garden has weeds, it
also
has a few pros and construction. But, ultimately
this
change is proven to be a boon for society as it gives comfort and ease in making amount.
Submitted by Manvir kaur bhatti on

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Topic Vocabulary:
  • Contactless transactions
  • Mobile wallet
  • Biometric authentication
  • Fraud prevention
  • Digital divide
  • Cybersecurity
  • Financial inclusion
  • Spending habits
  • E-wallet
  • Encryption
  • Digital literacy
  • Payment gateway
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