It is true that advancement in technology has made people able to send money to their near and dear once with the help of internet and mobile phones. Although this development has some benefits for the people, I feel more negatives are associated with this trend.
One the one hand, use of internet and smartphones to send capital to others has made peoples’ lives much easy as they do not need to visit banks anymore. people can use various software, such as Google pay and Phone pay, to transfer money to other people regardless of their distance. Moreover, this development makes people able to do online shopping by sitting in their comfort zone.
However, everything has two sides. there are some harms that has come along with benefits of sending money through internet and smartphones. the major drawback of this trend is cyber crime. people usually upload their credit card number and password on internet that may be used by hacker, and they can steal their money by just one click. Furthermore, cyber café operators also misuse the information given by the customers. They are provided card numbers and password to transfer money. instead of securing the data of customer, they use it to withdraw money, and people, hence, are scammed.
Another demerit of this development also cast an adverse impact on employment. A number of jobs has been vanished by this trend. since the use of internet has become popular among the people, the work which used to be done in the bank employees are now being performed by everyone by just one click. This has put an negative impact the number of job in the banks and triggered unemployment. Therefore, this trend has push the people out of their works.
In conclusion, although use of mobiles and internet has brought some benefits, such as easy mode of sending money and access to online shopping, I believe that it has more negative impacts on people such as chances of getting scammed and increase in unemployment.