Electronic Money, EMoney, Digital Cash: The Pros and Cons

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E-Money is becoming increasingly popular day by day. They enable many people to work at home, conveniently pay for goods and services in several mouse clicks. 

Although electronic money into our lives not so long ago, but already have a lot of positive reviews among users. Currently the most popular electronic payment systems used in the world is Paypal but its not acceptable in some countries especially in Pakistan. Google Wallet is also getting popular as Google has already got the best trust among people. Alertpay, Payza, skrill etc are also getting huge attention now a days. Qiwi is also a popular payment system used especially in Russia.

What are the advantages of using e-money?

  • Payment for services within the system;
  • Purchases from online stores;
  • Simplification of financial transactions within the Internet;
  • Low commission.

Of course, the main advantage of e-wallet is that you will always be able to pay utility bills, top up on your phone, pay TV and internet access using your computer and the account in the electronic wallet.

People who are at a loss to find a job in real life, can try their luck on the Internet: there is work here for almost everybody. It is not necessary to have some education, you can work from home, where wages will be paid to the email account – for example, in the same system Paypal, which can at any time transfer to the bank card and buy online products from Amazon, eBay etc.

Yet another advantage is the online shopping. You can choose any products, technology, things, reading reviews about the selected product and making conclusions. At least it will save time on trips to the shops.

What are the disadvantages of electronic money?

Electronic money, as well as all the online sphere, subject to hacking, despite the advanced protection and constantly upgrading its specialists. If you come up with a simple password, it will be easier to hack your account. So you need to come up with strong passwords that will safeguard your data and funds in the account. What some companies offer is a very safe way, you make a transaction, the company immediately verifies the transaction details from the owner via telephone. If the user is unable to attend the phone or give proper details for the transaction, the company simply refuses the further advancement of that transaction.

The second drawback is that the derivation of funds has its own commission, and in some electronic payment systems it is quite palpable.

And that, perhaps, all the disadvantages. Is it worth it to sacrifice time or yet to start using electronic money is totally up to you.

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