Nowadays plastic money replacements such as credit and debit cards are extremely popular, even more than banknotes and coins. Discuss the advantages and disadvantages of this.

As the world is revolutionising, modes of payment are

also

changing, the concept of paper money and coins is now being replaced by bank cards, which definitely seem convenient to people.

This

essay will discuss the pros and cons of

this

advancement in the modern age. On the

one

hand, using cards has numerous benefits.

For instance

, if someone is caught in a robbery, or loses his wallet, he does not have to worry about losing his wage, by just making

one

call the account can be deactivated and the money is secure which would not have been possible if the physical cash had been stolen.

In other words

, it is more convenient to use plastic bills as it saves people in turbulent incidents like theft, misplacing, and burglary.

Additionally

, using credit cards gives you the opportunity to make extra funds in points whenever you make a purchase, these points can

then

be used in buying air tickets, and hotel bookings.

As a result

, it is a lot more profitable to use

this

mode of payment for goods.

On the other hand

,

one

of the biggest drawbacks of using a flip card system is scamming.

For example

, if you make an order online, and that website is somehow a scam, with just a single click you can end up losing all the money in the bank .

In other words

, if not used vigilantly, it is like that you give someone access to your account, once that access is given they can easily take funds out of the account before you come to know about it to take any action. In conclusion, technology is making our life simple, easy and secure.

However

, with every ,innovation there are some loopholes as well, so

one

must be conscious and aware of them to make informed decisions and act

accordingly

in case of need.