According to me, l really prefer using the cash at hand. I can control my mode of spending when dealing with cash than money on the mobile banking systems for that matter.
What is the difference between handling cash and use of the e payment systems?
- Thread starter Stardom22
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When I have money in my wallet, it is more difficult to spend it than having cash. No limitation to spending cash.
eLdavis
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Having cash means you have to be there physically to spend it. You could have money in an ewallet and be anywhere while making transactions.
I seldom use cash these days. I mainly use credit card for cashback.
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When you use online payments, you send or receive funds directly from your account or wallet, and there is no need to withdraw cash for transaction
Most of the shops I purchase from do not have a card swiping machine, so I prefer to pay cash for the items I purchase offline, especially for smaller amounts.
The primary difference between handling cash and using e-payment systems lies in the method of transaction. payment systems offer benefits like convenience, security, faster transactions, and reduced handling costs compared to traditional cash methods. Cash involves physical currency, while e-payments utilize digital means like credit cards, debit cards, or digital wallets.
The difference between handling cash and the use of e payment system is that with cash, one would be tempted to spend on impulse.
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Currently almost all payments use electronic money, either mbanking, ewallet, emoney etc., the convenience of paying with electronic money means we don't need to change small change especially when shopping, it is also more practical and easier, even so I still need cash especially for purchases at small stalls.
Handling cash well offers several advantages like immediate settlement, wide acceptance, and potential privacy. It can also help businesses avoid fraud risks and reduce payment processing fees.
With having to pay with cash, you won't waste time in a grocery shop for instance. E Payment might take a little time.
