It is believed that the frequency of usage mobile apps for payment purposes has grown and has become commonplace in many parts of the world. In my point of view, this phenomena demostrates that people had developed trust in technologies and moved to convenient method for purchases. However, one of the main deficiency of online payment is that there is no guarantee for total safety of money in the system.
On the one hand, since the information technologies had been enhancing and producing colossal amount of beneficial tools and services as online payment, fraudalent skills were improved as well. The well-known one is – cyber attack, where by just knowing personal details of passport hackers are able to apply for a loan, transfer or sell data, and steal money from an account. Although, last one is the common one, because of the weakness of safety programmes and complexity of resource which are required. Moreover, if the individual’s datum will get on the Internet or the individual will give the entry key to the scammer over the phone without knowing it, then information will leak leading to emptying the invoice.
On the other hand, development of cash system made economics traceable and accessible, which, in it’s order, led to transparency of financial transactions doing practical for government and population. Furthermore, enlargement of payment ability, including implementation of virtual card creation, had given opportunity of usage for these, who were unable to apply for a credit or debit card.
In conclusion, despite the cybernetic disadvantages and vulnerable system, online payment helped the state system by maintaining and advancing the utilization of technologies. Bilol