Digitalization has made cashless payments widely used in big cities, including Jakarta. Know the Plus Minus, come on!
Photo by Clay Banks on Unsplash
Electronic money or e-money is a payment system that now is getting popular. E-money is a cashless payment system that now is many used in several big cities in Indonesia, including Jakarta. The existence of electronic money has been replacing the function of cash. You don’t have to pull out your money from your wallet to pay anything, you only have to use one card and all is done. Although behind its advantages, don’t mean there is no disadvantage. Below are the advantages and disadvantages of electronic money.
(Advantages)
1. More Practical
To use electronic money, you have to charge the balance. You can top up at the merchants and now is easier to find the merchant. The balance in your e-money can be used for any transactions, wherever and whenever. You only have to use one card and you can pay anything you want as long as you never run out of your balance.
To use electronic money, you have to charge the balance. You can top up at the merchants and now is easier to find the merchant. The balance in your e-money can be used for any transactions, wherever and whenever. You only have to use one card and you can pay anything you want as long as you never run out of your balance.
2. Faster Transaction
Payments using electronic money are indeed faster than using cash. For example when you want to pay for a train ticket. you can directly tap in on an available machine, then go to the platform, and wait for your train to come. No need to long queue at the counter, pull out money or wait for the change.
Payments using electronic money are indeed faster than using cash. For example when you want to pay for a train ticket. you can directly tap in on an available machine, then go to the platform, and wait for your train to come. No need to long queue at the counter, pull out money or wait for the change.
3. Global Transaction
For those who love online shopping, e-money also can be useful. Because, it can be used as a payment on any e-commerce site, including overseas. It is because e-money applies globally. In online transactions, e-money has the same function as a credit card. You only have to enter your card number, and the payment is done.
For those who love online shopping, e-money also can be useful. Because, it can be used as a payment on any e-commerce site, including overseas. It is because e-money applies globally. In online transactions, e-money has the same function as a credit card. You only have to enter your card number, and the payment is done.
Photo by Patrick Tomasso on Unsplash
(Disadvantages)
1. Consumptive
Aware or not, e-money which gives us a lot of conveniences has made us into consumptive people. Why? Because convenience makes us want to buy things a lot until we don’t realize that the balance almost run out.
Aware or not, e-money which gives us a lot of conveniences has made us into consumptive people. Why? Because convenience makes us want to buy things a lot until we don’t realize that the balance almost run out.
2. The Security
E-money can change hands easily. No need to enter a password or something, everyone can use it without permission. When your card is lost, the people who find your card can directly use it. That is the consequence of its convenience which incriminating. All you have to do as the owner is keep it very well.
E-money can change hands easily. No need to enter a password or something, everyone can use it without permission. When your card is lost, the people who find your card can directly use it. That is the consequence of its convenience which incriminating. All you have to do as the owner is keep it very well.
3. The Left Balance Can't Turn Into Cash
Although transaction using electronic money card is very easy, not all payments can be made using electronic money. When you want to pay for something in cash, or you are topping up your balance too much, the balance that has been transferred can't be cashed or turned into cash. Unless your electronic money card is lost or damaged, you can report it to the bank concerned and the remaining balance can be cashed.
Although transaction using electronic money card is very easy, not all payments can be made using electronic money. When you want to pay for something in cash, or you are topping up your balance too much, the balance that has been transferred can't be cashed or turned into cash. Unless your electronic money card is lost or damaged, you can report it to the bank concerned and the remaining balance can be cashed.