NAMA: MOHAMAD KHAIRIL RAMDANI BIN MOHD SATTAR

NO.MATRIC: 159925

TOPIC: Positive and negative effects of using an e-wallet to move towards a cashless society.

INTRODUCTION

An e-wallet (electronic wallet) is a digital wallet that allows users to store, manage, and transfer
electronic money between various accounts and devices.

POSITIF

 Easy and fast to use.

o e-wallets can make life simpler for consumers by removing the need for users to
carry cash, allowing users to worry less if the currency is spilled or lost because they
can access the money through a smartphone.
o e-wallets also allows consumers to make payments more quickly than with cash.
 Have a good security.
o E-wallets provide a more secure way to make payments as they often require
authentication such as biometric data or a password.
o e-wallets can lessen the danger of losing money if fraud happens, because each
purchase made with an e-wallet can be traced by the user.
 Able to control expenses.
o some e-wallets offer budgeting tools that allow users to categorize their expenses
and easily track their spending.
o e-wallet can help users regulate their spending since it has a system in place where
every expenditure is recorded by the e-wallet program, making it easy for users to
view any of their costs.

NEGETIVE

 Limited use.
o Because many businesses and sellers still do not accept online payments, so e-
wallets can only be used in a few places.
o This is due to a lot of locations having a poor internet network, leading online
payments to fail.

CONCLUSION

In conclution, the use of e-wallets is growing in popularity among the community. This will
contribute to the creation of a cashless society in their spending. It is clear that using an e-wallet has
numerous advantages over its disvantages.