In many countries, paying for things using mobile phone (cellphone) apps is becoming increasingly common. Does this development have more advantages or more disadvantages? Transactions are trackable convenient if no cash available

Nowadays, It has become a widely known fact to make payments using multiple UPI applications available on smartphones, It has become common to transfer and receive

money

through developments. In my view, It is an advantage and

this

essay will dictate the reasons to support the statement.

Firstly

, these applications have decreased the usage of physical currency. To elaborate, individuals do not always require carrying cash,

,,

Change the punctuation

apply

show examples

instead

Add a comma

,instead

show examples

they could do flexible transactions using their mobile phones when purchasing any goods. To cite an example, In a country

such

as India seventy per cent of the

economy

today is running through

such

digital methods because of the convenience offered through

such

applications.

Moreover

, the fear of getting theft has

also

been decreased which has indirectly been observed in lowering the crime ratio in the Nation.

In Addition

, the technology has helped Government to track Black

money

. It has played a key role in supporting ministries to run the

economy

smoothly as all the transactions are being tracked by the officials,

due to

which the incoming of Black

money

has completely gone stopped, and

thus

it made the

economy

become tax-free in the present conditions.

For instance

, IN the year 2017 Government of India started supporting the Digital

economy

and they

also

funded the startups that were interested to enter in the payments business, and from

then

the figures of white

money

increased followed by the rise of taxpayers in the country.

To conclude

, the low usage of Currency notes leads to a lower manufacturing of Paper notes which impacted the environment positively.

Furthermore

, The government is now able to track all the transactions so that they could easily figure out the taxable and the non-taxable human beings who are involved in the transaction process.