The use of mobile phone applications for payment purpose is trendy in several counteries. This essay will discuss the more benefits of this trend such as safe time, make quick payments in any currency country through out the world and no need to keep heavy cash. On the other hand it has some disadvantages in a way security issues and need of smart phone.
First of all in modern time, people are really dependent on technology and want to do everything quickly and easily . So people try to pay through different apps like online banking to or jazz cash. Which is an easy way of payment to manage time as well as more convenient, no need to line up for payments. Secondly people are in hurry always because of work load so help them to manage time easily. Thirdly mobile applications development make the wallet currency free, no need to keep heavy cash in pocket for shopping and performing other duties. For example, in Pakistan most polpular application is Jazz Cash which makes online transactions easy and fast. Applications makes life independent and husle free.
The drawbacks of mobile apps are security risk because most of the apps are not protected by companies and can lead to big problems. Any third party can steal the user data and can make payments which is dangerous. Furthermore, to pay online need smart phone with good internet connection which is not possible for lower middle class people to afford. For instance, the easy paisa app is facing security issues people are stealing the data easily and making online transcutions. A number of people are registering farud cases in police station.
In conclusion, dependence on technology is better in many ways to safe time, pay quickly and no need to visit banks. But alos have risk of lose all data and have smart phone.