Advantages and disadvantages of E-Payment System.

Benefits of electronic payment system

Advantages and disadvantages of E-Payment System: – What is electronic payment system? And how does it work? I mean, how to spend it, so today we will learn from this article here, first of all, let me tell you that whatever is e-payment, it is spent through the internet. With e-payment, you can make any type of your payments without cash. For Example-

Benefits of electronic payment system 

1) You can recharge your mobile.

2) You can do any kind of online shopping anywhere and anytime.

3) You can book Train tickets, Aeroplanes Ticket etc. sitting in the house with e-payment without any queue.

4) If you do not have money in your bank account, you can also shop in such a situation, if you have a credit card.

5) You can do easily online e-payment any type of medical bill, hospital bill, etc.

6) Nowadays, many types of mobile apps are also available in the play store, through e-payment, you can easily pay anytime anywhere for shopping or paid your electricity bill, water bill, tax, mobile bill etc.

7) There is no risk of theft and loss, it cannot be robbed by any robber.

8) Where internet facility is available, you can take advantage of e-payment facility.

9) If you are going away somewhere, then you will not have to take any kind of Cash Amount with you. You can take advantage of any transaction through e-payment from your mobile phone.

10) You can transfer money sitting at the home through online From one bank to another bank.

Disadvantage of e-payment

1) E-Payment is a currency that you do not see, so you spend more, without any temptation.

2) It is more fear of fraud because any hacker can ever hack your bank account and fly your entire money in one minute from your account. And it has happened so many times, and in such cases, criminals do not even come in the grip.

3) There are many mobile apps available in the Mobile Play Store, you can easily pay any of your payments with the help of these apps, but in a way, it is as harmful as it is, which is also harmful You don’t know who made that app.

And you do all the transactions of your bank, by entering the ATM number, ATM PIN, credit card number and PIN, and your internet banking login password, and all information can go to the app developer, if the developer is a liar Your entire money can be stolen from your bank account in one minute.So whenever you are thinking of using a Mobile App, download that app from its official website and install it on your mobile and then use it.

4) It requires the use of the internet. If ever the internet connection fails, you will not be able to make any transactions from your online account, unless the internet facility starts in no time.Finally, if seen in general, the benefits of the electronic payment system are more than its losses.

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2 Comments

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