IELTS essay: Will credit cards replace traditional currency?

Essay topic

The usage of Credit cards and Debit cards seems to be a growing trend. Will plastic money completely replace the currency notes and coins used at present? Do you think this is a positive development?

 Sample essay

The popularity of credit and debit cards has increased tremendously over the years. This is definitely a positive development because cards have eliminated the need to carry cash in our wallets. However, I don’t expect cards to replace paper currency in the near future.

If credit and debit cards are popular, that is because they are very convenient. Carrying huge amounts of cash in one’s wallet is not very safe. Cards eliminate this need. What’s more, credit cards allow people to buy things even if they don’t have any balance in their bank accounts. Cards have also made online transactions possible. If there were no credit cards, the e-commerce industry would not develop at this pace.

On the flip side, data security is a concern when you make payments using your cards. Hackers are after your credit card details and security breaches can wipe the entire amount in your bank accounts. However, banks and card companies are working hard to fix this problem. And thanks to security measures like two-factor identification card payments have become much safer over the years. Still, I don’t think that cards will completely replace cash.

Many small businesses do not have the technology required to accept cash payments. If you buy things from a roadside vendor you will have to pay cash. I don’t think that they will be in a position to accept cards any time soon. In addition, we are emotionally attached to paper currency. This may also prevent the total adoption of cards.

To conclude, the growing popularity of credit and debit cards is indeed a positive development. However, even today security concerns prevent many people from making card payments. This might change in the future, but until everyone has the facility to accept cards, they are not going to replace traditional currency.

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Manjusha Nambiar

Hi, I'm Manjusha. This is my blog where I give IELTS preparation tips.

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