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

In
this
era of modernisation, technology plays an inherent and critical role in everyone's life. There is a rapid increase in spending money electronically through various applications in several countries. Development in equipment has various pros like saving time, and safe money which will be discussed in
this
essay.
To begin
with the first benefit of using
apps
for payment. In
this
hectic life, individuals prefer quick service rather than waiting long in lines to save their precious time. To illustrate, with the innovation, folks can place their order for grocery and dinner meals by sitting at their workplace. There are common
apps
to order things namely ubereats and doordash which change the lifestyle of several people.
In addition
, by using food applications, the community will get fresh food from the stores that will assist them to maintain their healthy diet. Moving towards the other pros of electronic payment. There is not only the invention of gadgets but
also
various crimes and scams. With the usage of online bank
apps
, there is less chance of robbery and online banking saves all the transactions records for future reference.
For instance
, earlier every individual kept cash in their wallet which resulted in violent activity like a robbery but with the online banking system, there are fewer cases of crime and illegal activities.
To conclude
, several individuals prefer to pay by online
apps
that bring quick service of food and grocery at home which saves their time and there is a few cases of crime as compared to the past
due to
the online banking system.
Submitted by shivaniphg123 on

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Topic Vocabulary:
  • Mobile payments
  • Biometric authentication
  • Transaction costs
  • Budgeting
  • Technological barriers
  • Privacy concerns
  • Data breaches
  • Identity theft
  • Over-reliance
  • Market fragmentation
  • Competing payment apps
  • Financial inclusion
  • Security features
  • User convenience
  • Cashless transactions
  • Digital wallet
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