In many countries, paying for things using mobile phoned (cellphone) apps is becoming increasingly common. Does this development have more advantages or more disadvantages?

Utilizing cellphone applications for the purpose of going through a financial transaction or making a purchase is increasingly gaining momentum worldwide.

This

recent trend presents both opportunities and challenges. From my perspective, the risks imposed by

this

trend make its positive contributions fade in comparison. In terms of advantages, the two primary added-value of mobile-based software are convenience and swiftness. In the previous decades, if an individual wished to make a purchase, or any other type of monetary exchange, they had to ensure that they had enough physical money (Cash) at their disposal at the time of the exchange;

whereas

, nowadays, people can see any financial transaction, let alone online

purchases

, through with either debit cards or credit cards, which eliminate the hassle of traditional means of transferring money;

hence

, a more convenient process.

In addition

, these apps require substantially less in order to transfer the funds to the receiver;

therefore

, these pros make for a quick and easy process that greatly appeals to the end-users

On the other hand

, purchasing via mobile apps is critiqued for two issues, which are generally associated with electronic transactions.

Firstly

, people who opt to make frequent transactions and

purchases

through these applications, are at comparatively higher risks of fraud and theft, as their banking and personal information is stored in the e-commerce platforms’ databases, which are prone to frequent attacks by hackers.

Furthermore

, there are many, myself included, who believe the ease of online shopping makes them vulnerable to over-shopping; as the wide range of options online may entice many to make frivolous

purchases

, and suffer financial consequences. In the final analysis,

although

the user-friendly nature and accessibility of mobile apps may make a case for a pleasant shopping experience, they may

also

result in not only unnecessary

purchases

but

also

increased vulnerability to digital theft.

Therefore

, it is

for

this

reason that I believe that their cons far outweigh their pros.