Financial innovation
Financial innovation has reduced individuals’ need to carry cash. Explain how. Discuss how do you see the future of the financial innovations?
It is true that financial innovations has reduce needs of
individual to carry cash.
On introduction of debit and credit cards , individuals just need
to carry that card and when needed use such cards to make payments,
thus reducing need to carry cash , However thaere was problem that
swipe machine were not available at all the places, hence another
innovation came of E wallet like Paypay. one just need to load
money in the vallet or just link their bank account with the vallet
and when required individuals can pay through mobile phones, thus
reducing need to carry cash
Future of this innovation is very bright as more and more people are finding it convinient. A day would come when there will be no physical curreny notes left. Cash less Economy!!. However with increase in usage of internet, internet frauds have also increased, thus one need to make sure that his mobile does not get hacked by installing anti virus software
Financial innovation Financial innovation has reduced individuals’ need to carry cash. Explain how. Discuss how do...
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