In many countries, paying for things using mobile phones (cellphone) apps is becoming increasingly common. Does this development have more advantages or more disadvantages?

We are dwelling in a modernisation,where smartphones give a good platform to do
payments
by using online apps
such
as phonepe , Paytm etcetera.
This
trend is rising frequently all over the world. The falling essay shall express the more merits and apply demerits of
this
development. To embark with, the online
payment
method is a brilliant method to do
payments
without facing any difficulties. To elaborate, folks have no need to take a high amount of cash in their pockets, with the help of a scanner they can do their
payment
to any shop with an eye a glance. It reduces the chances of their being in applied society.
In addition
, it
also
boosts our economy and decreases the black money from the market. Another advantage of online
payment
is people can do
payment
without coming into any contact with another person.which reduce the disease of viral According to a survey by the University of Columbia , during corona pandemic in Australia , individuals prefer online
payment
method because they think it is safe and less time-consuming. They can do all work from home related to the bank.
On the other hand
, every coin has two sides.
This
development
also
has a few demerits.
first
and foremost, the company take all private documents from the customer,so there is always a doubt in the customer 's mind that their data is used for illegal purposes.
Secondly
, some fake people hack their accounts and clear all amounts from their accounts.
Last
but not least, sometimes due to bad network
payments
are not fully done and consumers have to face problems. To sum up, these online
payment
methods are easily a way to do
payments
for folks, but the deficit can not be ignored from
this
development.
Submitted by partapajay43 on

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