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

The consistent change in the world with respect to technology and human behaviour leads to several differences in the way people live, mainly the way we are using gadgets. The usage and dependency on mobiles in our life are drastically increasing which has several merits and demerits.

Firstly

, the main advantages of using cell phones for payment are comfort, security and transparency. Usually, when people go out shopping, they need to carry physical cash with them, which is less comfortable than just holding a phone.

This

is the most faced problem when someone wants to buy expensive items. It is

also

not safe to carry cash or capital in other forms as it is likely to be dropped or in the worst case stolen but

that is

not the case with e-cash as your money is completely safe in digital format it is unlikely to get lost.

Although

using phones for making payments is confusing at the start it is very comfortable to understand our entire spend as each and every transaction is recorded and saved in a passbook.

On the other hand

, it is very difficult to use and understand the functionality for older generations as all of

this

is new to them. Since confirmation and transaction statements are maintained digitally, there are many chances to get manipulated and cheated by people. When Paytm

first

started digital payment in India, lakhs of cases got registered on frauds and imitation of deposit confirmation from many fake applications. Even though security is getting tight day by day, still hackers are finding ways to exploit these applications and steal capital. To conclude, with the changing and challenging world it is very important to all of us to get adapted. New technology might have some setbacks in its initial stages but will improve gradually and perform reliably.