It is true that mobile payment has been thrived in many countries these years and has become a prevalent method. While there may have some downsides along with this tendency, I believe that people can get more benefits from this development.
On the one hand, there are some positive effects on people with phone payment. Firstly, it is convenient for people to use payment applications when shopping. This is because people do not have to worry about insufficient paper money they have at store. As an alternative, online banking and digital payment applications can pay for items immediately without these embarrassing moments. Secondly, using digital payment can improve efficiency in public area, particularly in supermarkets and grocery stores. Instead of the conventional way of using paper money, customers can save more time when paying as receptionists do not need to give changes and count the price. As a result, a long queue waiting in front of check-out point could disappear with the efficiency of mobile payment. Last but not least, fake money cases can be mitigated if mobile payment is growing. In the past, a thousand of cases related to fake money scandals happened in different countries and cause a large amount of loss of domestic economy. When it comes to safe payment, digital payment can solve this problem, which contains sophisticated payment system such as biometric scanning and coding.
On the other hand, this latest payment method still contains some undesirable parts, especially for the elderly. Unlike young people who always accept new things easily, old people prefer to live traditionally and find it difficult to learn mobile payment. Without their children’s assistance, these people may face obstacles of payment because some shops are cash-free. Not only can this trend cause an inconvenience to elderly people, but also create dissatisfaction among this group.
In conclusion, even though it is inevitable to have some disadvantages of mobile payment, I think this payment is effective and reduce burden of using paper money.