Nowadays, digital payment method with help of cellphones is growing rapidly. According to my prospective this trend is having more pros than cons. In upcoming paragraphs we discuss both with supporting examples.
Firstly, online paying apps proven to be very helpful in submitting numerous bills like phone, electricity, water, wifi, television and many more. You do not need to visit office to pay bills, just my connecting bank account with payment apps, it would be paid in few minutes. Thus saving your time. Moreover, for transferring money from one account to another is quick with online transfer, even your salary can be paid same way. As there is no use of paper, so this method is eco-friendly. In tribune newspaper a article with survey was published last year, which says these is 90% reduction in waste in banks and other official departments with just online transactions.
On the opposite site, there are few disadvantages of this trend leading to scams with uneducated people who do not know how to do online payments. Some people end up losing there all saving by using unsecured apps. No doubt person can report to cyber crime but its a long process and consume your time.
Conclusively, if you be attentive and use secure online payments methods, this advancement is useful. Majority of population in western countries are totally depend on online payment methods.