Financial innovation has brought about changes in the way we use money. Our country due to the pertinent cash crisis it has been experiencing has now placed great emphasis on the use of the plastic money. However, this hasn’t been well received by the populace in our opinion which are evidently still stuck on the old rule of thumb.
Today Eyetro Digital has taken time to list out the merits of using plastic money. Hope at the end of this, We would have changed your mind set and subsequently your life in the financial arena.
What it is?
Plastic money is a term that is used predominantly in reference to the hard plastic cards we use every day in place of actual bank notes. They can come in many different forms such as cash cards, credit cards, debit cards, pre-paid cash cards and store cards
1. Convenient
By the use of plastic money, no need to wait in queue to make a withdrawal of your hard earned cash. The latter form can be easily used at supermarkets which have POS machines. This means you can buy the basic necessities of life with ease. Almost every service or product that you need trade for money has an electronic way that facilitates it now except for small retail outlets. For example you can’t pay the milk man using a card. In addition you can use it anywhere even abroad.
2. Less risky
We all are aware of the risk that comes with carrying huge amounts of cash in your pocket. Far be it when you have card that does all this for you and is secured with a confidential pin. This means that even if it is lost, no one can access your account. However you can report the matter to the bank and block the card to avoid misuse.
3. Online payments
You can use cards for online payments, fund transfers and various other transactions. There are various bank cards and platforms that can be used to make online payments in Zimbabwe and these include CBZ touch, Paynow, ZimSwitch and Ecocash just to mention a few.
Despite draw backs that may be imminent in employing the electronic way of performing transactions but with the cash problem in this nation you are still a huge winner.
