Ielts GT Writing Task 2 Sample 176

Cashless transactions, such as credit cards, mobile payments, and online banking, offer convenience but also pose certain risks. Discuss the advantages and disadvantages of cashless transactions in today’s society. Provide relevant examples to illustrate your points.

In today’s society, cashless transactions, including credit cards, mobile payments, and online banking, have become increasingly prevalent, offering convenience alongside certain risks.

This essay will examine the advantages and disadvantages of cashless transactions. While cashless transactions enhance convenience and efficiency, they also raise concerns regarding security and financial privacy.

Firstly, one of the primary advantages of cashless transactions is their convenience. With the rise of digital payment methods, individuals can make purchases and transfer funds quickly and effortlessly, without the need for physical cash. For example, mobile payment apps like Apple Pay and Google Pay allow users to pay for goods and services with just a tap of their smartphones, streamlining the checkout process.

However, cashless transactions are susceptible to security risks such as fraud and identity theft. The digitization of financial transactions exposes individuals to cyber threats, including hacking and phishing attacks.

Instances of unauthorized transactions and data breaches highlight the importance of robust cybersecurity measures. For instance, in 2019, Capital One experienced a data breach affecting millions of customers, emphasizing the vulnerability of online banking systems to cyberattacks.

In conclusion, while cashless transactions offer unparalleled convenience and efficiency, they also present risks related to security and financial privacy. To mitigate these risks, individuals should exercise caution when conducting online transactions and adopt security best practices such as using strong passwords and regularly monitoring account activity. By striking a balance between convenience and security, cashless transactions can continue to facilitate seamless financial transactions in today’s digital age.

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