Some people think that paper money and coins will be replaced completely by credit cards and online methods of payment in the future Do you agree or disagree

It is indeed that technological advancements in the banking system have changed the way of various modes of payments. Many transactions are being done by the credit cards and online methods. Therefore, it seems that it will replace the paper money and coins in the forthcoming time. However, this cannot be supported due to the various reasons.

To begin with, in this hi-tech era there are many places in the world where credit cards and internet have not reached. For instance, in Sudan, people do not use credit card besides cash and less access of internet. Moreover, all people are not educated and familiar how to use the internet. The printed money is the only way of monetary exchange for them.

Over and above, from the security point of view, these methods are not too safe. For example frauds and thefts of bank account details. It is one of the safety issues for users. The hackers can use all the details, in order to get the money of principle account holder.

All in all, it cannot be denied that the use of electronic money will increase drastically over a period of time. But eliminating cash and coins completely out of the system will not be possible.