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Advantages of Digital Payment System, Disadvantage of Digital Payment…
Advantages of Digital Payment System
easy
Rewards & Offers available
Ease of Use
no fear of theft
Directly pay from bank
TIme Saving
Prevention from touch
no paper
Recordings available
physical distancing
Convenience
Seamless transaction
Accessible from any point
Faceless
Fast transaction
Ease for business purpose (increase sale)
Different mode
Transparent
Safe
Cashless
Disadvantage of Digital Payment System
Security concern
Disputed transaction
Technology problem
INternet problem
Server down
Fraud
More Spending
stuck payment
identity issues
Money misuse
Third party application charges
Not available in may places
A cost to business
Transaction Issues
password / OTP /