By: Chong & Lee

Transactional
Security
IELTS BAND 9 ESSAY
 Some people think that paper money and coins will be replaced
completely by credit cards and online method of payments in the
near future.

Do you agree or disagree with their statement?

INTRODUCTION
It has been in a debate from very long
duration regarding the replacement of fiat
currency by electronic mediums like credit
cards and other online methods.

I strongly agree that the chances of that

happening in the near future will be high.

In this essay, I will put forward my

argument, supporting my opinions and will
expound in detail.
 PARAGRAPH 1
The electronic method of charging or making payments is
extremely convenient. One can purchase anything, just buy
one swipe, without carrying a physical currency in the bag.

Furthermore, in recent times, everyone has a mobile, and

the technology has become so much advanced that one can
store the credit card in their cell phone.

For example, apple wallet lets the people store their cards
in the phone and can directly make transaction just by
tapping the mobile on the machine.

Hence, life has become more easy-going by these

innovations, and people will soon adopt the method of
electronic payments.
PARAGRAPH 2
Moreover, looking onto the safety, chances of getting robbed
holding enormous money are high. For the security purpose
having the post-paid card is a better choice.

For instance, while travelling abroad, individuals prefer to

have a travel card instead of having cash as it is not safe to
hold a hefty of money in hand.

However, holding cards do not assure total protection as

there have some online thefts, where the hackers have
hacked the computers and collected all necessary details like
bank details.

But this can be prevented if a person takes the proper

protection for their security of computer like by installing an
antivirus application.
 CONCLUSION
In conclusion, it cannot be denied that the
future is about advancement,

and it has made our life easy and having

the alternate medium of payments have
provided more flexibility and a sense of
security to humans.

Thus, the future is going to be of the

online transaction and carrying the
physical currencies will not be preferred