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

The development of the

Internet

and smartphones has revolutionized all aspects of our lives. One of these aspects is the way people handle their financial day-to-day activities like doing monetary transactions on their devices via the use of the

Internet

. While some consider

this

development harmful, I believe that it is worthwhile. The primary benefit of using smartphones in transferring money is the high speed.

For instance

, accounting departments in large corporates that have a plethora of activities pertaining to purchasing or money transfers could benefit from employing the

Internet

rather than having to go to a

bank

for each transaction. It is,

therefore

, huge merit and a major help in order to save time.

Moreover

,

this

development can play a significant role in each individual's life, regardless of their professional affiliation, due to the noticeable amount of time-saving.

Although

I do appreciate that some people are concerned regarding the security aspects, I believe that the advantages are more. Another benefit of

this

technological advancement is how it can help preserve our precious environment. In the past, each transaction demanded an itinerary to the

bank

or ATM machines, using a stack of paper for keeping records of the transaction (for the

bank

and each individual), and a higher number of facilities like

bank

branches to do so. courtesy to the

Internet

, these set of activities are obsolete,

hence

it helps the preservation of the environment by averting unnecessary traffic and paper use. In conclusion, I think utilizing our electronic devices and the

Internet

in transferring money is extremely beneficial, especially in terms of saving our time and preventing more damage to the environment.

Moreover

, technology is advancing by the minute,

thus

providing people with more secure transactions.