In many countries, paying for things and using mobile app is becoming increasingly common. Does this Development are having more advantages or disadvantages?

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It is irrefutable that, the craze of online transactions has enhanced too frequently. A popular stratum of society tends to believe that it makes all payments digitally and easily. A sharp contrast, others opined that it is not secure.
However
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, even though
this
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practice brings about a mixed bag of boon and bane, merits overshine demerits. Commencing with the most prominent reason why mobile payment is beneficial for the community.
First
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and foremost, people not only send or receive
money
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with the help of mobile but
also
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purchase my rid of appliances and items from anywhere they live.
Secondly
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, individuals prefer to operate
money
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transactions with electronic applications rather than swipe to debit or credit cards. To vindicate, a digital well-known app Paytm offered consumers to pay just by scanning barcodes, and
money
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goes to the bank account of the shopkeeper surprisely. Mainly, there is no need to carry physical cash while going shopping and for everyday expenses.
Thus
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, it increases the level of productivity among people and prevents their
money
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from thieves.
Nevertheless
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, there are several detrimental ramifications. There is a threat of financial and digital fraud with and an authorised app
that is
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not approved by the government owing to, scams
Correct pronoun usage
that
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have been done through scammers by taking one-time passwords (OTP) from the person on mobile. To cite an example,if a person gives their bank details to anyone it may cause digital robbery. In conclusion,
although
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online payment is time-saving and easy to access yet it had some drawbacks like
money
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frauds and scams directly from their bank accounts.
Submitted by naresh on

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