In today’s world, smart devices play an increasingly important role in the purchasing process. This essay will discuss why the benefits of this technological advancement outweigh the drawbacks.
To begin with, it is true that using online applications requires an internet connection and a smart device, which not everyone can afford. Some individuals, particularly those with limited financial resources, may struggle to purchase a smartphone. Additionally, the older generation, who may not be tech-savvy, often find it challenging to learn how these applications work and prefer to stick to traditional methods. For instance, despite my numerous attempts to teach online banking to my mother, who is over 60 years old, she still needs guidance for every step of a simple e-transfer.
On the other hand, physical currency has significant limitations, especially when purchasing expensive items. As the cost of an item increases, the need for more cash arises. Carrying large sums of money to a seller is often impractical, and even if it is possible, security and timing become critical concerns. For example, purchasing a house involves a substantial amount of money, and ensuring a secure, timely transaction is essential. Online applications, however, offer a faster, more convenient, and secure way to complete such transactions.
In conclusion, digital money transactions, primarily facilitated by banking applications, are becoming increasingly popular. In my opinion, the advantages of this approach far outweigh the disadvantages, as it simplifies and secures the process of transferring funds in commerce.