Conventional monetary systems changed by technology

Pay bills and Transfer money

No more do you have to enter a bank to withdraw money or transfer it to someone. Many banks have already made transactions possible online and accessible to people everywhere. Companies like PayPal and Venmo have created platforms where people can send and receive money from any location using the Internet.

Paying bills has also become simplified thanks to technology. You can automatically schedule payments when they are due rather than having to remember to mail a check. With your cell phone and a banking app, you can manage all of your necessary bill payments online.

Setting up automated payments through a banking app is especially helpful for seniors who may have memory problems. Caregivers or loved ones can help set up recurring bill payments so there’s never a question if a bill will be paid on time or not.

It’s about Money

It’s even simple to pay for things using only your smartphone. With Apple Pay and Google Wallet, you don’t need to carry cash when you go shopping. These apps securely link your bank account to your mobile phone. The same machines you use to swipe your credit card at the store now allow mobile payments from your phone.

Keeping up with all of these innovations may seem like a hassle, but these technologies can simplify your life to help you worry about fewer things. With all of the payment capabilities available these days, you could leave home without your wallet and be just fine.