Today, many people use the internet and smartphones to transfer money to friends, family, and businesses. Is this a positive or negative development?
Nowadays, many
people
use various apps to transfer cash via their phones or the Internet to family, colleagues, and friends. To a certain extent, I agree that it is a positive development for society. However
, there are undeniably some disadvantages.
On the one hand, there are crucial drawbacks, including technological illiteracy or technical problems. Just as more and more people
frequently use online payment
, cyber-criminals numbers significantly increase, such
as hackers, ID thefts, and database exploits. For example
, frauds are popular among online customers, especially the older generation, who lack knowledge, so they are becoming a direct target for many hackers by saving their card details on their phones or using public wifi
networks through online purchases. Correct your spelling
WiFi
Furthermore
, technical issues with the web server are one of the main cons. If governments cannot provide ultimate protection and guarantee equal access to reliable internet services, it will cost them tremendous losses.
On the other hand
, from my perspective, I agree considerably that online payment
has many vital effects on an individual lifestyle. Currently, most people
use online transactions on a regular basis. People
can comfortably transfer money for alternative activities such
as buying from shopping sites, paying electricity bills, or even employees' wages. For instance
, there are different payment
apps such
as PayPal, Venmo, and InstaPay. In addition
, trying to flourish the economy is another benefit of online transactions. In particular
, gateways for online payments can operate globally with the customer base irrespective of geographical limitations. According to
research, about 70% of online shops prefer shopping across borders. As a result
of catering to a global client, integrating online payment
alternatives on their websites will undoubtedly enhance sales.
In conclusion, although
sending money by the Internet or cell phones to other people
is more convenient and practical for accelerating sales and facilitating the payment
process, there are many downsides, such
as online fraud and database stealing.Submitted by rogina.magdy52 on
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