There was a lack of money being circulated as people stored notes and coins in their backyards and homes which gave the concept of plastic money. Plastic money includes all the debit and credit cards that we use for payments. Most of us forget to carry cash while we are out and payment apps come to rescue us at that time.
All of us prefer carrying a small thin card than a lot of notes. It’s a safer option as well. You do not tend to drop or lose cards as often you lose money. And cards can be blocked so that no one can use the card if you have lost it. All these benefits are an advantage of plastic money over normal currency.
Preference for plastic money over real notes:
A lot of online shopping companies such as Flipkart give discounts when paid through an online payment mode. From payment applications such as google pay, Paytm, PayPal, PhonePe. The simple reason being, they get assured that the buyer of the product is genuine. Advance payments are preferred by everyone. Not just you but these companies as well.
There are several payments that the companies also have to make to other sellers of other suppliers. PayPal is quite safe for all sorts of payments. There is a special team that works to keep the information of the users away from the hackers.
Money needs security that PayPal provides a guarantee. If you wish to buy a dedicated server and want to make the payment. Then buy dedicated server with PayPal as the mode of paying. Few Reasons why one should prefer PayPal over others is:
- No cost is charged for to or for of money.
- Instant Payment and no delay. In business, liquidity is a major issue that PayPal solves.
- Secure Payment with a 24*7 support team.
- Accepted everywhere in the money. Thus, you can feel free to pay even your international clients or suppliers.
- Easy to sign up and use.
Other than this what matters the most is our details such as mobile number, account number, and bank balance should not be shown to anyone. And PayPal keeps this entire information secret.