In many countries, paying for things using mobile phone apps is becoming increasingly common. Does this development have more advantages or more disadvantages?
Apparently, e-payment holds wide range of constructive benefits. First and foremost, not only it is convenient for millennial as they do not need to step out for shopping or paying bills , but also it saves time since it is done instantly by a single click. Secondly, if people use these digital apps , they can reap plethora of rewards such as cash backs, discounts etcetera. To vindicate, according to the BBC, it has been revealed that there is an exponential rise in the usage of Paytm for ordering food on Zomato as they offer 20% cashback on all orders. Yet another, unlike the bygone days , people can travel abroad without carrying currency due to the availability of numerous electronic payment apps which can be used via mobile phones internationally. Seemingly, using online paying is a promising development.
Nevertheless, it entails detrimental ramification . Does it safe to make payments digitally? Certainly no , since credit or debit cards and other bank transactions can lead to cyber fradulance at certain times due to which a person can loose all the money. To corroborate , as per Forbes magazine, there is a prolific increase in the ratio of electronics scams in India from a decade. Thus, e- payment has catastrophic repercussions .
To recapitulate, although digital payment schemes have its own inherited downsides, it's constructive ripples in terms of saving time, rewards and using it worldwide is unsurpassable. Needless to state , one should use everything in limit. Online payment merits massively tide over its demerits.
No comments:
Post a Comment