Digital or online payments are safe or harmful

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Digital payment
Digital payments

Well, if we talk about online payments it has made our transactions easy and smooth but sometimes it can be harmful too.
Let’s discuss its advantages and disadvantages.

Some advantages are:

  1. Easy process as there is no need to take cash with you every time.
  2. Saves time, in today’s world saving time is a priority and online payment is blessing for this.
  3. Hassle free and speedy transactions you don’t need to go to bank and wait in line for your turn.
  4. Safe and secure, authentication for verifying the user protects the sensitive information, ensures confidentiality and build trust.
  5. You don’t have to keep track for your financial transactions everything is available in tool you are handling.

Everything has positive and negative sides. Some disadvantages of online payments are:

  1. Cyber aur criminal frauds have increased tremendously.
  2. Still many people in India are not fully aware by the use of online payments or if they use the same somehow they can make mistakes which in turn may cause loss to them.
  3. Many online sites are making fraud by taking online payments, still many of us don’t search the validity of sites and start purchasing the items.
  4. Limitation in number of transactions many banks have put the limitation in the transactions through online payments.
  5. Identity theft is there which in turn increased the amount of forgery.

So, we conclude that every easy feature comes with the bit of risk with proper care and precaution we can overcome the negative impacts.

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