In many countries, paying for things using mobile phone (cellphone) apps is becoming increasingly common. Does this development has more advantages or more disadvantages? Give reasons for your answer and include relevant examples from your own knowledge and experience.

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Technology has reached every corner of the world enabling
people
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to ditch old-style paper
money
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with online
payments
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. The majority of folks are in favour of
this
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advancement
due to
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its number of merits.
However
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, some
people
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highlight its demerits first. In
this
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essay, we will discuss both benefits and drawbacks of plastic
money
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with a suitable conclusion. Initiating with the advantages, for many
people
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internet banking is a relief as they do not need to carry cash everywhere. Nowadays, from street-side hawkers to hospitals, every place accepts
payments
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using cellular phones,
this
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has solved two major problems for every nation.
Firstly
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, plastic
money
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is eco-friendly, as currency needs trees to be cut and
secondly
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, it has controlled the flow of black
money
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nationally
as well as
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internationally.
For instance
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, India which was the first country to promote UPI
payments
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has seen a drastic downfall in corruption in the
last
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few years.


 On the contrasting side, there are a few disadvantages associated with
this
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mode of payment.
To begin
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with, many folks especially elders do not feel comfortable dealing with modern technologies
such
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as smartphones and online banking. Probing ahead,
this
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development has given birth to many frauds
such
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as web scams and phishing attacks, making
people
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lose their hard-earned
money
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in a blink of an eye
due to
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their naiveness. To cite an example, my mother almost got caught in a situation where she was asked to scan a code by an unknown authority,
however
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, she immediately reported the same to the police.


To conclude
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, preferring online
payments
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have become popular in many nations considering it is all white
money
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and environment friendly.
Nonetheless
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,
this
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development has an equal number of flaws
such
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as cyber crimes and acquaintance with knowledge. I believed the aforementioned points are strongly supporting my viewpoint.
Submitted by jyotiarora940 on

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Topic Vocabulary:
  • convenience
  • safety
  • security
  • time-saving
  • cashless transactions
  • dependence on technology
  • privacy concerns
  • accessibility issues
  • financial vulnerability
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