Convenience and efficiency

Digital payments ensure convenience and efficiency in making transactions. Users of digital payments no longer need to be burdened by having to bring physical cash with them at all times and waste valuable time queueing for counter services to manage bills.

Security

In terms of security, keeping or carrying large amounts/values of cash or cheques makes individuals vulnerable to misplacing them or becoming victims to theft. Digital payments reduce these risks thanks to the controls that technology enables. Trusted digital payments adopt security measures, such as identity verification of customers and access control.

Easy tracking and financial planning

Digital payments can also assist to facilitate record keeping and better financial planning, i.e. budgeting, active savings through direct debit instructions, etc.