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

Smartphones
and the
internet
have revolutionized the way the world worked. In the present time,
money
transactions among friends, families and businesses are a very common practice possible
due to
the
internet
and
smartphones
. I believe that it is more of a positive development which will be thoroughly discussed in the following paragraphs. There are a plethora of advantages to getting everything done digitally with the help of
smartphones
and the
internet
.
To begin
with, it is the fastest way of transferring
money
between two peers.
For instance
,
money
transfer at
fingertips
Correct article usage
the fingertips
show examples
is possible through the
internet
and
smartphones
.
Moreover
, unlike physical cash one does not need to worry about writing down expenses as every transaction will be saved in smartphone applications or software. Another advantage worth mentioning is the security of online transactions. Mobile banking provides 256-bit encryption which is the most secure and it is way better than traditional methods. To exemplify, it will be really unsafe to carry a huge amount of cash to take it to another place,
whereas
it is easy and secure enough with a smartphone.
On the other hand
, there are a few charges that banks take for the services they provide which not be accessible to everyone.
Furthermore
,
at
Change preposition
apply
show examples
last
Add a comma
,last
show examples
it is a computer program
hence
it might get crash or stop working in
Add an article
a
the
show examples
time of need,
hence
is not as reliable as physical systems.
To conclude
, there are very few negative points as compared to the advantages that are offered by the
internet
and smartphone for the transfer of
money
to their near and dear ones.
As a result
, every country should promote using these features to make their life easy and efficient.
Submitted by Aryan Patel on

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