PayPal is quickly becoming one of the most popular methods of payment in E-comme

Question

PayPal is quickly becoming one of the most popular methods of payment in E-commerce, and is available in many Caribbean countries. Although it is not a free service, it does offer full integration into most sites so that customers are sometimes not even aware that they are using PayPal to make the purchase. Use the Internet to obtain information about PayPal, and how it helps customers with making purchases online. Share your opinion on whether electronic money could be the money of the future. Conduct research using the Internet on electronic money, or e-money, and digital cash. Argue for or against the usefulness of e-money and digital cash. (Tryhttp://www.digicash.com, and http://www.cybercash.com, among others)

Explanation / Answer

Argue for usefulness of digital cash

The cash that is in purely electronic form is called digital cash. It is intangible and accountable for the transactions that are done online.

If we have digital cash the criminal class would have to go for banks which will increase the chances of their detection.

Digital cash has ease of completing the transactions. we dont have to stand in queues outside for payments.

We need not to worry about the cash outs during bank holiday.

There is no risk of carrying currency in wallets.

We do not have to wait for the cheques to get credited in account.

Digital cash also prevents money laundering and reduce grey economy.

Digital cash will also increase the Tax compliance which will benefil people.

Digital cash will plugged the loopholes in the public system of a country.

We can save a lot and get discount when we are using digital cash.

Using digital cash we can easily keep the track of our spending because all the transactions are on record.

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