Nowadays, the trend on digital payments is increasing rapidly, replacing use of conventional cash. Despite certain disadvantages of digital payments, such as loss of privacy. I believe that electronic payments bring positive changes to society, by increasing safety and convenience.
People leave their digital footprint, making digital payments, which can lead to loss of privacy. Some people prefer to keep their spendings in secret; however, electronic payments do not allow it, as all the transactions are recorded by banks. For example, recording the research data gathered enables more social engineering attacks. Information from bank accounts create a favourable ground for thefts, as they can manipulate citizens, compromising their personal security.
It’s undeniable that digital payments have drawbacks, but they do not outweigh its advantages. Firstly, e-payments are much safer, as even by stealing a card or phone the thief is unable to withdraw money due to passwords, biometric scanning, CVV, etc. For example, before people used to be afraid of buying expensive purchases, as there was a possibility of robbery; currently, digital payments made commerce substantially easier and safer for both shop assistants and customers. Secondly, electronic payments are more convenient than physical cash, because a payment is made in several seconds, that does not create long lines and simplifies the work of shop assistants.
I came to the conclusion that the pros of digital payments outweigh its cons, due to safety and convenience, in spite of loss of privacy. Electronic payments are a new reality, which provides many opportunities and simplifies humanity’s life, but this requires the correct approach to avoid possible robberies.