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

In

this

ultra-modern epoch, it is a moot point that technology has reached every nook and corner of

this

world. It is considered by the masses that the internet and cellular phones are being used more to transfer funds to friends, loved ones and for business purposes. I believe that

this

is a positive development because it is convenient for the users and

also

saves our planet.

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,

this

trend has been promoted by various banks and financial institutions because they want to save their customers time and assist them with the ease of day-to-day financial transactions. To elaborate, an individual with a single click on his gadget can transfer funds across the globe;

moreover

, they do not have to carry cash everywhere which proves to be user-friendly. To cite an epitome, a headline published in “The Moscow Times” in 2010, revealed that 65% of the population prefers to carry a card

instead

of bulky cash and they do not have to be afraid of losing cash now.

Therefore

, it can be argued without any scepticism that digital banking has a plethora of benefits.

Furthermore

, it can be rightly acknowledged that how online banking plays a significant role in preserving the environment.

In other words

, in past years there was more demand for paper to record payment history, even when an individual had to send money to another person, there was a flood of receipts utilized.

However

, now with the revolution from paper transactions to digital, there is less demand for paper.

For example

, an environmentalist found that digital facilities have resulted in a lower number of deforestation which has been reduced from 55% to 20% now.

Hence

, using gadgets and electronic mediums for transactions has reduced the burden on trees. In conclusion, because of the advantages mentioned

such

as ease to send the amounts anywhere, pocket friendly and

also

preserving nature, I infer that

this

conception is a constructive change for an individual and

also

for society.