In recent times, usage of mobile device for making payments has become highly frequent. This is because online transactions are quick and safe besides being convenient. However, there some demerits associated with using payment applications on phones. This essay will discuss various pros and cons of using this method and explain why the benefits outweigh the drawbacks.
To begin with, there are a myriad of benefits of using mobile phone for payments. It provides a comfortable way of paying someone where all one needs to do is a few clicks on their mobile device. For instance, opening a payment application and entering a password or fingerprint enables to authenticate and transaction which would be completed in mere seconds. In addition, these transactions help keep a record of the payment in case of any conflicts. Furthermore, almost every store accepts digital payment which direct the amount paid straight to their bank accounts.
On the flip side, the main disadvantage there are some phones that do not support installation of applications which facilitate online money transfer. Additionally, sometimes weak network can pose as a problem while making digital payments. For example, when there is improper internet available, transactions might be stuck midway leading to deduction of money in sender’s account but not successfully transferred into the receiver’s account. However, these problems are trivial and are seldom encountered.
In conclusion, digital payments facilitate on the go transactions which are the most favourable. In lieu of the arguments expressed above, it is clear that the advantages outweigh the disadvantages of this payment method.
