Different methods of payments Essay
Today, I can use different methods of payments, which are available to me and I can use them as I like. However, I do not use all of them. Instead, I prefer to use my credit card and electronic payments. Rarely, I use cash or checks. In fact, I choose the method of payment or transaction that is the most convenient for me and I believe today credit cards and electronic payments are the most convenient because they are easy to use and fast.
As a rule, I use electronic payment, when I purchase some products online. For instance, I have bought a new camera recently and I used electronic payment to complete the transactions. At the same time, I pay my housing bills via my iPhone using electronic transactions. This method of payment is effective and fast because I just need to push several buttons and the transaction is complete.
At the same time, when I do shopping or when I just go to a supermarket, I use my credit card. This is another effective and widely-used method of payment, which I prefer. I think it is quite convenient to use my credit card, instead of using cash, for instance, because I can be certain that I always have the money to pay for the products I buy with my credit card.
In actuality, I use electronic payment widely, although I still credit cards more frequently than electronic payments. In fact, I use electronic payment as often as possible. This means that I do almost all purchases online, when I have to buy some goods or services from my home, for instance, or to pay my bills. When I want to do shopping or just go for a walk and go to a shop or a supermarket, I naturally use my credit card. These are the most commonly used methods of payment, which I use for probably over 90% of all of my payments.
I use cash rarely and I run out of cash fast because I just underestimate my needs in cash. In fact, cash is quite inconvenient because I have to know how much exactly I am going to spend, when I take the cash to do shopping, while some sellers refuse to take cash. In addition, I can use my credit card anywhere and anytime, while the transactions involving cash may take more time to be completed that is inconvenient. For instance, when I bought a book online, using electronic payment, I preferred to use electronic payment not only because it was easier and more convenient for me but also because it was faster. For instance, I had an option to use cash but the transaction would take about a day or two to be completed before the book would be shipped to me. Therefore, I naturally preferred electronic payment instead of cash.
As for checks, I use them very seldom and only when I am going to make some significant transactions. In fact, I use checks only when I make some transactions, which I am either uncertain or which are very significant because I can stop the transaction and trace the transaction more accurately and have physical evidence of all stages of the transactions.
Thus, electronic payments and credit cards are the most widely spread methods of payment because they are the most convenient and effective.
