Link of the news article:Cashless Buying Poses Financial Risks for Those Without Self-Control
Still worrying about leaving your wallet at home and realize it when making a payment? We have several new payment methods coming out now, which provide more convenience through some useful apps on smartphone used to make payment more easily. However, before we adopt these payment methods in our life and enjoy the convenience they offer, there are still some problems for us to consider.
There is no doubt that the popular cashless payment systems such as ERPLY and TabbedOut make the payment process a breeze and reduce the possibility of losing the wallets and plastic cards, potential risks still exist during the payment process without considering about the budget. By promoting rewards and pushing advertisement on customers’ payment account, retailers thereby attracting more consumers to encourage more transactions on the account. Simultaneously, problem arises because it’s harder for customers to track their expense when enjoying the efficiency and convenience the digital tools are bringing them. Thus, improvement should be carried out to make up for the potential risks. Except for simply defining the problems by translating decision problems into research problems, more potential problems which would most likely arise without recognition should be figured out. In other words, it is important to break out the limitation of problems definition in marketing research. Furthermore, it would be advantageous to roll out certain systems which would facilitate the management of the online bank account linked to the cashless payment systems.
Information about some useful mobile payment systems:Mobile Payment Systems
Work Cited: