The Electronic Wallet " VISA "

Essay by Mel_GibsonUniversity, Master'sA, February 2003

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1) Credit cards and debit cards are definitely the future. These plastic cards will make the everyday life for banks and retailers a lot easier. Of course they still like to receive money, but cash payments have to be tallied. This takes a lot of time and is a great cost for the banks and retailers. But all of this can be avoided if the customers would be more willing to use debit cards and credit cards. The use of credit and debit cards is an advantage for both retailers and customers. People do not have to carry loads of coins and bills in their wallets anymore. It will be a lot easier to go shopping. Long lines in front of a cash register can also be avoided. It only takes a second to run the card through a machine and then your groceries are paid for. It saves time both for the retailer and the customer.

This is something that is appreciated these days. People seem to have less time and when you go shopping with a credit or debit card you surely save some time. So there is no doubt that a cashless society would be an advantage for all of us. But a few problems could occur. It is always difficult to get people used to something new. Many people, especially old people, will maybe have something against these cards. They are perhaps "afraid" of the new technology. So it is the old generation who will cause most problems. Youngsters who are grown up in the information age are probably more apt to use the credit and debit cards. Some people claim that there is too little security with the cards. It is easy to steal a card and draw money from another man's account. This cannot...