In a cashless society, people use more credit cards. What are the advantages and disadvantages of this phenomenon?

Global transactions these days are often carried out using bank-issued cards.The main advantage noticed in

such

dealings is that the customers do not have to worry about insufficient

cash

during the transaction as well as they can buy anything on the e-commerce without going out of the house.

Although

,there is often a risk of overspending and the possibility of the

card

details being stolen.In my opinion,the advantages outweigh the disadvantages,which will be discussed in the following essay. The greatest benefit of going cashless is that a customer knows the withdrawal limit on his

card

.He does not have to carry

cash

every time he goes shopping,which sometimes does cause inconvenience especially as one cannot predict the ever-changing cost of the items.

For instance

,prices of vegetables change daily as per the availability.

Furthermore

,sitting at home with just a click of a button,online purchasing can be done using a bank-issued

card

.

For instance

,people buy things from Amazon,E-bay and Big Basket,in the comfort of their homes without travelling.These positive benefits of buying at ease from home as well as not having to worry about the

cash

for buying definitely encourage people to go for cards. The main drawbacks include the high possibility of spending more than required and the chances of someone stealing the bank details during the transaction.Most often,people spend blindly without control when they use cards as they do not have to count the

cash

,leading to binge buying.

For instance

,customers often step into a supermarket to buy a particular thing,but they often get tempted to see the sales,which ultimately leads to them buying even though they have no use for it.

Additionally

,during online transactions,if

card

details are given out without authenticating the source,money is stolen from the bank.

For example

,many illegal websites are created with the same name as the original company,often for the purpose of stealing money.

Such

drawbacks definitely harm the finances of the person. To conclude,the advantages of a cashless society is more in terms of E-commerce and worry-free shopping compared to the drawbacks of extra spending and someone stealing the money.