Nowadays, plastic money replacements such as credit and debit cards are extremely popular, even more than banknotes and coin. Advantages and Disadvantages

With the rise in technology, the form of

has

changed. Electronic

the place of

as coins and bills. There are both positive and negative impacts of

change.

To embark with, the main advantages of using bank cards

of

are convenience and security. People can make transactions and transfers quickly and with ease. There is no need to carry

coins for any purchase which is preferable for both buyer and seller.

, to buy expensive

card is much convenient for customers.

, Using electronic

leverages

of individuals. They are less likely to be robbed or attacked

thieves for the sake of

. People can travel with as much

they want without the fear of getting lost. Overall, with the introduction of bank cards, both sellers and consumers feel much

and comfortable.

of aforementioned pros, there are many negative

of using electronic

. The main disadvantage of eradicating

is the rise in scams and false phone calls. Many organizations are working to fool people via phone or email to steal their

online. Scammers access the bank accounts of people by

them and take out all of their

.

critical downside electronic

has brought is the accessibility for uneducated people. They are not able to deal with new forms of

very

repels them from adapting

change. As per recent studies, the older age groups prefer

for

. So giving away the

completely is not welcomed by everyone.

To conclude, not only electronic

has pros, but

it is not able to conquer all people. There are still some age groups who are not confident to adapt it.