So, the generations prior to us would carry money with them wherever they went..they had no other option other than paper money..which comes with its own set of disadvantages:

  1. Loss of cash: Sometimes, people tend to lose cash because after all, it is a valuable piece of paper..this loss of cash is usually impossible to trace as either it is grabbed by someone else or it can fly away to an altogether different place.
  2. Damage: Cash can easily be damaged, it can be torn, it can be soiled, it can get wet or it can tear off which would obviously be a loss for you.
  3. Miscounted: Whenever you give cash, it can be miscounted by a simple human error, which is obviously not good for your financial situation.
  4. Cross-checking transactions: If you make transactions in cash, it cannot be rechecked or cross-checked after getting it done.
  5. Cancel transactions: usually, cash-related transactions are difficult or impossible to retract because the party receiving the cash can be untraceable or simply not willing to.

 

 Contrary to what backdrops money gives us..debit, credit, or vanilla cards give us a host of benefits that are absolutely undeniable. When we talk about visas and MasterCard the word “convenience” definitely comes to our minds. Following are the benefits we get from these digital payment methods

  1. Quick transitions: With just a swipe of the card and entering the digits you can complete the transactions..unlike money which takes ages to count and recount..here, the machine is the one who is performing all the work.
  2. No mismanagement: The amount we pay or spend through cards goes directly into the bank account of the person selling..so, there is no chance of theft or mismanagement of cash..the activities happening related to the related bank is always under strict monitoring.
  3. Reverse transactions: If there are any issues in a transaction, you can opt for a reverse transaction which would be completed within a day or two.
  4. Tracking misuse: In case you lose your card, you can immediately freeze the bank account related to it and if it is in the hands of someone unknown, it can be traced back via the transactions made.
  5. Easy to carry: A card is a single entity, so it is very easy to carry and because of the digitization age nowadays, almost every shop, every business has a card swipe machine.
  6. Can be linked to e-wallets: E-wallets are the new ‘in’ thing nowadays..it is basically a method to pay via your phones..these e-wallets are connected to your cards and you can make them easy hassle-free payments. 
  7. Can be done all over the world: Transactions through cards can be done all over the world..in a few minutes..you just need to know the details of the person receiving the money.

Nowadays, people have started paying through digital modes as it is an easier and less time taking process…in fact, through cards, you can keep a track on your expenditures and put a stop at it if you feel that you are spending more than you should..so all in all, card transactions are more easy and safe.