Everybody has a wallet, and we all have to carry the wallet with us in many situations. According to the historical trend, many of our belongings can be replaced and simplified. For example, we are using credit cards to go shopping instead of cash, and now, we use our smartphones to make transactions instead of cash. Actually, in most of our life, bringing a smartphone is sufficient to do a lot of things. In this article, we will discuss if we can replace wallets with smartphones, and the potential risks of it.
Powerful Applications for Payments
Now, there are hundreds of different applications we can use in the app store, and many of them are related to transactions. For example, a number of banks have established their own mobile banking systems, by which users can make most of their transactions without the necessity to go to the bank. At present, dozens of payment methods are available in the smartphone app store, such as Apple Pay, Google Pay, PayPal, Venmo, Zelle, and WeChat Pay, and these payment applications can cover our spending in 360 degrees. Regarding the transaction, in case of emergency, some ATMs are supportive to withdraw cash by the authorization of a mobile phone. Moreover, other than banking transactions, other transactions that require physical cards, can also be accomplished through smartphones. For example, we used to get into the subway stations by tapping our subway cards or at least buy tickets with cash or credit cards. Then, we usually get annoyed because we don’t have changes. With the establishment of mobile applications, at least we can pay for the tickets without changing our cash, or moreover, there are applications just for tickets! Instead of hundreds of different transportation cards, we now just have to open the right applications and get into many stations by scanning the codes. If you are worried about your smartphone may not be functional enough to support these applications, why not choose one with big memories and powerful processors? Especially with the latest Qualcomm Snapdragon processor, many smartphones are able to run most of the applications, such as HONOR 70.
The Potential Risks Coming from Your Smartphones
The first concern will be physical issue, which is that we have greater risks to lose our smartphones. This is not a simple problem, as we are too reliant on our smartphones, and we have been putting almost everything in it. In many circumstances, losing our smartphones means we have to set up many issues again. For instance, we link our phone numbers to many personal staff, including our bank information, our social media accounts and our private information. Then, when we talk about privacy, it is the second issue that may even involve criminal cases. More than losing your money in the account, losing your smartphone will be more serious, as keyloggers can grab every single detail from you to borrow money, cheat your family and friends, and even damage your credit. So, as we are too reliant on smartphones, we must keep it perfectly and, avoid downloading any malicious apps that may target your personal information or wallets.
In conclusion, smartphones are becoming so convenient and powerful that many daily activities, including transactions, can be fulfilled. To replace the wallet with a smartphone is the future trend because daily spending, taking public transportation, or even withdrawing cash, can all be proceeded by smartphones. However, it is significant to protect your smartphone and not download any malicious apps. These are the best ways to protect you and your property.