Question

State with reason whether you agree or disagree with the following statement:

Money can be sent anywhere through electronic means.

Options

• Agree

• Disagree

Answer 1

Yes, I Agree with this statement.

Reasons: 

1. Plastic Money: Due to advanced technology, plastic Money is easy to use in transactions. Debit cards and credit cards are used as plastic money. Further innovation in smart transactions led to the introduction of electronic money.
2. Electronic Money: E-money or Electronic money is a monetary value that is stored and transferred electronically through various means, i.e., mobile phone, tablet. Smart card computer etc. It is backed by Central Bank.
3. Digital wallets: Electronic money used for purchases and transactions globally. Digital wallets are also a form of stored electronic money.