Though Electronic transactions has helped people to save time still it has it's own adverse impact. Justify your statement
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Justification of the statement ''Though Electronic transactions has helped people to save time still it has it's own adverse impact'' is as follows:
- Along with huge growth of Electronic transaction, misuse of payment method, data theft are also growing.
- Cross-border payments cannot be handled by infrastructure of national banking. In technologies, non-uniform development and complication in software platform are caused by this.
- The problems appears in the time of transaction, is also an adverse impact. But the issue of fraud has become major problem in business.
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Digital world connects every nook and corners, it make payments transact easily but it is not secure than the older conventional methods.
Explanation:
- Earlier, conventional method of payment transaction secured the money but it makes more time.
- Digital payments transact the money in a single click from our computer and send it to the beneficiaries.
- Cybercrime has been increasing over the recent years and hackers can easily steal the money from people’s credit card, debit card and so on.
- Personal Identification number should not be revealed to anyone.
- Digital literacy is low in the rural areas so those people cannot get access the benefits of digital technology.
- So, before making everything digitalized, we need to provide proper education to the people about its dos and dont's.
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