Band 5+: Today, many people us the internet and smartphones to transfer money to friends, family and businesses. Is this a positive or negative development?

In this modern era,technology play a vital role in everyone life.Nowdays,majority individual utilized the internet and their smart devices such as smart phone for different purposes.Such as tranfer money to their friends ,family and bussiness with the use of digital payment methods.I considerably posit that it is positive development.This essay will scrutinize why it is postive development,there multiple reasons which will be elaborate in subsequent paragraphs.

The first and foremost reason is why it is positive development,it offres flexiablity to the people.To elaborate it,in traditional time people who do business and job in another cities or nation,they face difficulties for transfering money.Due to internet and advacement in technology people can transfer their money to anyone from any corner of the world.Addtionally,the another reason is it provides security to the people.To explain it futher,nowdays crimes rates become high so that,if people transfer their money by physically,it may harmful for them.For example,businesssmans who transfer high amount money to the respective individuals.If they transfer by physically,it may possible they are attacked by criminals.However,if they transfer their money through digitally,it provides them security Hence,digital payment provide security to the people.

Futhermore,it also offers convenience to the people.In this modern time people face number of problems in their life and serious problem such as emergency in health and serious situations,where money is much more require.Digital payment provides convenience to the people.For example people who have emergency in health and they addmit to the hospital,It may possible they don’t have high amount money at that time physically.So they can use digital payment for transfering money at such this places ,where emergency is there.Henceforth,people use digital payment methods in case of emergency.

Conclusively,due to technology people transfer their money securly to their friends and family members.Similarly it also offres flexiabilty and convenience to the people.