In several nations purchasing items using e-payment methods has become a day-to-day ritual. This improvements has its own perks and cons as well. My views are given in the following paragraphs.
Nowadays, in contemporary world, with the help of technological advancements, people have developed cashless transactional methods of money transferring. This method is quite useful as people do not need to carry a lot of money in cash together with them which leads to less chances of getting robbed. With the help of apps humans nowadays do not lack money when they are buying groceries or any equipment. For example, people in India use several UPI methods of transactions. Once my uncle ran out of cash money in Delhi, which is completely strange to him as he is not from there. With the help of UPI and QR payment he was able to pay for his commodities and food. This is the boon we have been blessed with the emergence of UPI.
However, with great pros comes great cons. Cashless methods of payment has made people completely rely on it. People are getting addicted to pay for items using apps like GPay and PhonePe. Due to no sense of withdrawl of money as it was while using cash to pay, young generations sometimes overspend money to buy unnecessary items. One teenager in India paid several lakh rupees to a game company to buy virtual game currency using his father’s bank account. younger people are not as wise as older people and they are easy to be manipulated then their elders. Some companies use this as their Unique Selling Points (USP). They influence children to spend money on their products which eventually tuns into burden as they are of no use.
In conclusion, people should be responsibly pay for items using e-payment methods. Paying using apps is a great benefit but if not used properly it can lead to debt to people who use it recklessly. In my opinion, it is very useful if used correctly and properly.