In many countries, paying for things using mobile app is becoming increasingly common. Does this development are having more advantages or disadvantages?

In recent times, payment through mobile applications has become quite popular.

Although

it has made banking easier and more accessible for people, it has made bank accounts vulnerable to hackers.

This

essay will demonstrate both the merits and the demerits of

this

system but will later show how the former outweighs the latter.

Firstly

, with the onset of technology all over the globe, banking has become seamless owing to its advantages.

A

Change preposition

With a

show examples

few taps on the screen and the

money

is wired from one place to another, without physically going to a bank. The Internet has made it possible for mankind to do monetary transactions in the comfort of their homes. For

this

reason, more and more people are using these payment gateways.

For example

, a non-resident citizen can seamlessly transfer

money

to their home country in a few seconds, without the hassle of paperwork and queues.

However

, these banking systems

also

have some disadvantages. They are more prone to cyber-attacks and one can lose large sums of

money

in their account to malicious hackers.

For instance

, India reports a hundred cases of cybercrime on a daily basis, accounting for major losses. In order to prevent these, governments need to have a strong network of security. Whilst there are some drawbacks, one cannot ignore the benefits of

this

system. In conclusion, in my opinion, it has greatly improved banking infrastructures in many countries and made it possible to exchange a large

sum

Fix the agreement mistake

sums

show examples

of

money

easily. If it is implemented with proper regulations, it can do wonders for humankind.