Today, many people use the internet and smartphones to transfer money to friends, family, and businesses. Is this a positive or negative development?

Digital transactions have changed the whole scenario of payments. Today, many
people
rely on online payments. For me, it is a positive development for a nation or for
people
.
To begin
with, transferring money with smartphones has a huge impact on our society because it is easy and it takes less time to send money to another account.
Moreover
, online transactions
also
help
people
to
transfer
funds internationally, with
this
, they do not need to go through the long process of banks and it
also
helps to save time.
For instance
,
people
buy products online from international websites and they can
transfer
funds with their currency through online transaction methods.
Furthermore
, internet
transfer
also
helps local retailers or businessmen to increase their sales
,
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because
people
can reach these salesmen online for their needs which directly impacts production or sale. Apart from that, online money
transfer
is useful for international students who live in other countries they can use these methods to
transfer
or receive funds from family or friends.
Last
but not least, sometimes it is hard to carry cash in certain places or while
people
do shopping from local markets because
people
often find it difficult to ask for change from these local shoppers.
As a result
, payment with smartphones could help
people
to make smooth transactions. To conclude, online transaction is like a privilege which should be used in the right way. It could make our life easier and
also
it is a great step towards the development of a nation and its residents as well, but to provide security to online transfers and aware
people
of to use of
this
technology is the government's concern.
Submitted by sukhmangat696 on

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