IELTS writing Task 2 Essay Sample Plastic money and IELTS essay writing the most popular and recent topic. Now plastic money options like credit and debit cards are really more popular than banks and coins. Discuss the pros and cons of this.
Electronic transactions are slowly replacing the traditional banking system and the use of banks is being replaced by credit and debit cards.
The transition to a cashless society can be slow, but steady and widespread. This paradigm shift has both positive and negative consequences, and this test addresses both.
Primarily, payments with electronic transactions and plastic cards are more convenient and are processed on the go.
People don’t even need to boil down to some amount of money or write checks – which usually takes a couple of days to clear the money.
The electronic payment system is global and has no chance. As a result, the e-commerce industry has flourished and most people have an online business without a brick-and-mortar store.
For example, it has become easier to make purchases with Visa or MasterCard from anywhere in the world today. Personally, I hate being in a long line to pay my utility bills and my cards allow me to do it from home – real time saver.
Conversely, trends do not come without negatives. Although we can use these cards for technological advancement, the risks of using plastic money are related to this technology.
The primary threat of such payment methods is cybersecurity and hacking. For example, once a credit card is cloned or its sensitive data is hacked, the owner suffers a huge financial loss.
The monster of technology like Facebook has failed to protect your user data, for example, and the measured use of user data is a global concern.
Same for plastic cards and the same payment system that has the same vulnerabilities.
In the end, even if it has some adverse effect, it takes time to get the money to pay and use the plastic money to get the money. There are many benefits, but we need to be careful about using them. IELTS writing Task 2 Essay Sample Plastic money recent topic.