In future, people may no longer be able to pay for things in shops using cash. All payments may have to be made by card or using phones. Do you think this will happen one day ? Why do you think some people might not be happy to give up using cash?

The rapid advancement in technology has revolutionized the way finance sectors work nowadays, and in my opinion that day is not too far when individuals will only

use

cards or digital methods to pay their bills.

However

, there are a few folks who might be unwilling to accept

this

change and would prefer the traditional method of using

cash

.

This

essay intends to shed light on both perspectives.

To begin

with, many positive facets are associated with the phenomenon of cashless

payment

for example

no buyer has to worry about carrying

cash

all the

time

; especially in a

time

of emergency .Smartphones are widely used by most people ,and utilizing them as a mode of

payment

could resolve many issues related to a pickpocket. Many people face difficulties in getting change

while

they are travelling or having a fun

time

with their loved ones in a restaurant ,

thus

the

use

of a card or mobile will give them hassle-free family outings.

Furthermore

, customers paying directly via bank is more beneficial to shop and business owners as they can

also

accept all the transactions to their bank which eliminates the risk of theft in their stores.

Hence

, advancement in the money exchange system is effective and stress-free for both consumer and seller.

On the other hand

, the digital

payment

adoption may be opposed by elderly citizens who are unfamiliar with the

use

cellphones

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of phones

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or electronic machines. An increase in digitalization eventually increases the risk of hacking, fraudulent activities and scams. To elaborate, fraudsters may steal individuals banking information and

use

digital

payment

methods to impersonate them. Losing a debit or credit card is another similar threat. Dependency on the internet will remain high every

time

which can cause trouble when there is none available . So

cash

is considered a safe and convenient option for old people.

To conclude

, I am inclined to believe that

although

using internet

payment

is automatic and fast there are plausible reasons to

use

cash

yet, the security remains the paramount concern.

Risk

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The risk

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could be minimized if users are more alert

while

using those methods and mature adults are fairly guided and assisted by the young generation around them.