In many countries, there is an increasing trend in using mobile phone apps for payment purpose instead of old way of cash handling. What is your opinion. Explain with examples.

In several nations, we can witness a huge surge of payments via cell phone applications. According to my perspective,
this
new method has endless benefits as compared to the old practice of
cash
transactions
.
This
practice is fast, safe and secure. To commence with, online platforms have increased a lot these days, which has caused a rapid flow of money. To elaborate,
cash
inflows are taking place in less than a
second
.
For example
, a recent publication in a newspaper called ' Newyork times' showed that inter-bank
transactions
using digital currency had increased
tenth fold
Add a hyphen
tenth-fold
show examples
in
last
Correct article usage
the last
show examples
five years.
Thus
,
this
exercise will continue to increase in the years ahead.
Furthermore
, smartphones are becoming so common that every individual possesses
it
Correct pronoun usage
one
show examples
. Owing to
this
, it is quite secure to utilize different online apps
such
as Easypaisa, jazz
cash
and several others.
For instance
, a documentary created by British Broadcast Centers (BBC) in the year 2019, expressed that nowadays, internet banking is the safest technology for money
transactions
.
Hence
,
cash
inflows are following
the
Correct article usage
a
show examples
decreasing trend as compared to internet
transactions
. In conclusion, mobile phone apps are the most secure and fast way of carrying and transferring finance. We should continue to use
this
way of payment transaction as much as possible and
also
advise others.
Submitted by ashiqali.tejani on

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Topic Vocabulary:
  • Digital wallet
  • Cryptocurrency
  • Cashless society
  • Mobile banking
  • Contactless payment
  • Financial literacy
  • Cybersecurity
  • Transaction fees
  • Near Field Communication (NFC)
  • Peer-to-peer (P2P) transfer
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