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Do You Really Need A Mobile Wallet?

We are currently living in the modern world, where technology has obviously taken over everyone. Almost every single person in this world has more than five electronic devices in their houses, and most people own a mobile phone. These are hand-held electronic devices that are used to be able to communicate to other people no matter how far they may be. However, it does more than that, because you can now use it as a wallet.

Yes, for the benefit of the doubt, smartphones now have a feature wherein you could connect to your bank and access your money so that you would be able to use it to buy something online or at stores who accept mobile wallet. But then again, just like everything else in this world, no man-made object is perfect, so that would mean that these mobile wallets have advantages and disadvantages, and here are a couple of them.

“Before you become too entranced with gorgeous and mesmerizing video displays, let me remind you that information is not knowledge, knowledge is not wisdom, and wisdom is not foresight. Each grows out of the other, and we need them all.” Arthur C. Clarke

PROS

• Secure and Private

One of the benefits of having mobile wallet is that it is very secured. Most mobile wallets have a code or Touch ID-feature that wouldn’t allow anybody to use it without your permission. So that would mean that if ever you lose your phone, you wouldn’t lose all you money since it is secured. You could also contact your bank or phone company immediately to let them know that your phone has been stolen or if you lost it so that they could immediately do something about it.

• It’s in your phone

Another great advantage of the mobile wallet is that it is basically accessible wherever you are. Everyone brings their phones with them wherever they go, even in the toilet, so that just means that you could totally make a purchase from your favorite online shopping sites anytime and anywhere.

• Better inventory tracking

Mobile wallets are not just convenient, they are also reliable. Most people worry about not being able to keep track of their expenses, but with the use of mobile wallet, you will be able to check whatever it is you bought, when you bought it, and also, how much did it cost you. This is the best way to handle your money especially when you budget, it may also prevent you from impulse buying since you would know how much you may lose and save.

CONS

• No phone, no money

Unfortunately, if you ever go out and accidentally leave your phone, you wouldn’t be able to get whatever it is you need to buy since you wouldn’t have any money. This is one major disadvantage of having your money in your phone. That is why it is always ideal to have some backup cash or credit with you despite having your phone. Mobile wallets are not accepted in every single store in the world since it is still practically new and advanced.

• Expect some glitches and error

With electronics, there will always be some glitches and errors, that is why they often update everything. This is another major disadvantage of mobile wallets. There are a lot of cases wherein people suddenly lost their money because of some door of glitch, some of them got it back but some didn’t, so this is a major risk you have to take.

• Extra fees to pay

Unfortunately, there will be online fees involve in almost every transaction, especially if you are purchasing something. The shipping isn’t the only thing that is expensive when you buy something online, but the transaction fees as well. So this is what you need to look out for, if you think that the fees are ridiculously high, then it is probably best to spend just a couple of bucks on petrol and get it yourself.

“Money cannot change who you are, all it does is magnify our true natures. If you’re mean and selfish, you have to be mean and selfish with, if you’re grateful and loving, you ha e more to appreciate and give.”Tony Robbins

There is absolutely nothing wrong with trying to have a mobile wallet. Everyone has a different experience so feel free to check it out. It is very easy as long as you have a smartphone if ever you manage to have a good experience when it comes to a mobile wallet, then you can even recommend it to some family and friends. Just keep in mind that it wouldn’t hurt and it would probably be best if you always keep some cash on you especially when you’re going somewhere. Not every story or place in this world accepts mobile money so it is better to be safe than sorry.

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