Nowadays, there are a lot of people use various apps on the internet and smartphones in order to transfer money to their friends, family and for businesses. To a certain extent, I completely agree this is a positive development.
Firstly, it is more convenient when people use online payment. At the present, the majority of people purchase online or trade online. Therefore, it is assumed that everything can be done just by a phone. In addition, it doesn’t take their time paying through phone and people don’t need to go outside or pass a vast distance to send money. Furthermore, when an financial emergency happens to your friends or family, you can help them immediately. For instance, your sibling study abroad, sending money by online transaction is fast, simple and effortless.
Nevertheless, it is safer when people don’t bring an amount of money by their side. Therefore, your rate being stolen money will decrease. Additionally, if your phone was stolen, you can easily prevent losing your money by contacting to the bank. They can cold your bank account and remain your money. Besides, when people move around, money can easily be dropped unexpected. Consequently, it is more efficient using cell phones as a way paying and transferring money.
In conclusion, I firmly believe people send money by cash via their internet and cell phones to others is a positive development. Although, there are some disadvantages but it is undeniable that online payment is more convenient and not wasting people’s time. In addition to this, this also provides more securities to people’s money-keeping.