Will digital payments replace cash in the future?
I. Introduction
Introduce the members of the group + topic
II. Body
1. Convenience + Saving time
Agree:
- Do not need to carry cash when going out
- Can pay bills immediately without leaving home
- Only takes a few minutes to make a transaction
- Eliminating the need to travel to a bank or payment location.
- Better financial management
Disagree:
- Payments: inconvenient due to network outages, and
technical issues, while cash payments: used whenever despite
potential network outages.
- Transaction: refused due to bank payment limit (example:
purchasing small-value things)
- Paying by card is so easy that people buy more than they
want. E-commerce significantly increases ( statistic)(VN net).
- Lose the beauty of traditional customs such as giving lucky
money to children at Tet or giving money for wedding celebrations.
- It is challenging for middle-aged and older individuals
( limited access to modern technology, diseases, and physical
limitations).
- Digital payments: unfamiliar in remote rural and
mountainous areas ( economic challenges and low income).
- Children under 18 do not register an online account → not
make online payments → have to pay cash.
2. Safety
Agree:
- Possibility of making a wrong transfer: low → ensuring user
safety and accuracy.
- Scams persist in cash and bank transfers: vigilant and update
regular news → protect assets
Disagree:
- Rising the rate of cybercrime with increasing amounts of
money scammed.
- Transfer process → wrong, take a long time →resolve.
- Online money frauds: increasing (example: links from spam,
answering calls, fake QR codes) → online payments: not secure.
- Fake QR codes: Thieves print a QR code with the customer's
bank account, then scan the code to transfer money to the
scammer's account.
→ Online payments: common in the current digital era, but take time to replace
cash in day-to-day transactions
III. Conclusion
- Paying by cash or bank transfer has many benefits + potential
disadvantages → Choosing which form of payment depends on the needs
of the consumer.
→ Conclusion: In the era of industrialization and modernization, non-cash
payment: change traditional payment methods → but take a long time to
convert, especially in remote areas and areas with poor economic conditions.
