A few decades ago, using physical cash tradition was gradually supplanted by a credit card culture as a result of technological advancements. Customers can purchase products and services using credit cards, which are backed by a line of credit provided by the issuing bank. Nonetheless, as technology has progressed, an increasing number of people are seeking ways to abandon their traditional wallets and make purchases only through their smartphones or other mobile devices.
As we all know, credit cards have provided us with a plethora of conveniences throughout the years. But, what exactly is a credit card, and how does it work? It is possible to borrow money with a credit card, which can be provided by a bank or other financial organization, and then pay it at later date. You may quickly make your payments without having to carry physical cash with you at all times. Even during the Covid-19 pandemic, it aided a large number of people in their efforts to avoid physical cash and protect their health. There are several more advantages to using credit cards.
There are, however, a few negatives to keep in mind. Credit cards are no longer the future since they are outmoded and inefficient, not to mention expensive. What’s more, banks make a lot of money through transaction fees and interest rates on delinquent amounts. It is becoming increasingly rare to see credit cards in use since consumers no longer want to depend on their physical wallets and prefer to have greater flexibility when it comes to their payments. So, what’s next, then?
A new technology that has taken over the financial world is digital cash. Unlike traditional forms of money, digital cash is traded without the need of an intermediary such as a bank, and instead via the use of digital payment companies such as Jeton with internet connectivity. It is becoming increasingly popular.
Why Digital Cash is Better Than Credit Cards
For a variety of reasons, a digital cash card is a preferred payment method over credit cards. Let’s have a look at what they are.
- The primary advantage of digital cash is that it can be used anywhere, but with a credit card, you must either have an online connection or find a retailer that accepts your card before you can use it.
- There are no fees when using digital cash instead of a credit card to make purchases at shops.
- A further perk is a convenience of paying for products without needing to swipe a credit card or place a chip in an ATM.
- To make a purchase using digital cash, all you have to do is open an app on your phone and scan the QR code. As opposed to traditional credit cards, which use magnetic strips, these applications employ QR codes instead.
Do you want to take advantage of the benefits of digital cash? You can download the Jeton app to your phone. It is a safe, simple, and fast payment application for you.