In many countries, paying for things using mobile phone apps is becoming increasingly common. Does this development have more advantages or more disadvantages

Nowadays, paying money digitally became a common thing. To a certain extent, using a mobile phone to make a purchase has many benefits.

However

, it still can carry some drawbacks. In

this

essay, I will elaborate

further

in regard to

this

issue. On the one hand, making payments using your cell phone is a comfort. It eliminated the problem of carrying a wallet all the time.

Moreover

, services

such

as “buy now, Pay later” made it easier to buy your essential products and pay for them in instalments for longer periods of time.

For instance

, a recent study shows that people who use digital payment take a shorter time to pay for their items than those using bank cards.

Therefore

, businesses are able to serve more customers which increases customer satisfaction.

On the other hand

, one of the drawbacks of paying digitally is losing the value of the money in some cases. When it became easy to checkout using smartphones, numerous people started to overspend while being unconscious.

For example

, a report released earlier

this

year states that a high percentage of sales using Apple Pay is made to purchase items that are expensive compared to the average income of the users.

Hence

, having no self-control while using

this

service may result in being in huge debt. In conclusion,

although

there are disadvantages to using your electronic device to checkout while shopping, the advantages overweigh the drawbacks if you are aware of your spending limits to avoid any financial problems.