Question

It is much less risky to steal online as opposed to a physical store because of the ability to be anonymous online. Generally, stealing online often requires a virus of some sort, so it is much more difficult to do, as it is to get caught as well. Stealing at a physical store also leaves evidence such as being recorded on camera.

yur opinion please

2- Zelle is the major banks method of using peer to peer payments. Apps like venmo are a peer to peer payment system as well, but it’s a third-party company where payments take multiple days to hit your bank account. Zelle was created after apps similar to venmo became so popular. The reason Zelle took off so fast was due to the fact that it is directly tied to your bank, which made consumers think it was safer. Another reason it became so popular was because Zelle payments hit your bank account almost instantaneously. The reason that the digital wallets supplied by apple, google, and Samsung are not growing as fast as expected is because consumers are hesitant to adopt the new method of payment. This payment is not handled directly through their bank, so they have some trust issues

. your opinion please

3- wallets haven't taken off as big as assumed due to people being used to carrying around their debt/credit cards. Also many people may feel unsafe putting the information on their phones and then having their phone possibly stolen. your opinion please

Answer 1

Answer 1.

Stealing in physical is much easier as you do not need any technical knowledge like the one you need for stealing online. You directly approach the store/location for physical and rob it. To get covered from camera, you can wear masks. While stealing online is more stealthy because you can do it from any part of the world and hence lesser chances are there for your arrest. Only drawback is that you need to master the technicality for coding virus etc.

So for a quick stealing, physical is preferred while for stealthy & smart stealing online is preferable.

Answer 2.

In the given scenario, I would say that wallet is the thing in which you need to add money and then use it for payment. As the online fraud cases are rising, the more time taken for confirmation of payment made or received, the more one feels insecure about the platform. Zelle giving instant confirmation about payment status bring trust into using the system and hence user base increases. Thus we can say that trust and safety with prompt information sharing is key in any financial transaction app which was lacking in other wallets and thus did not pick up fast.

Answer 3.

Wallets were not accepted as big due to their acceptance across the nation. Also you require at least how to operate the application and payment methods for different wallets. While it is like carrying your phone as wallet, in case of damage to phone you are left without money. As a security, thus people still carry debit/credit cards so that where wallets are not available due to any circumstances, people still can make payments or have access to their cash in case of emergency. While wallet apps are not secured as it should, anyone can open the app and access the information feeded making you vulnerable to the situation. So these are the things if addressed by the wallet companies, a spike can be seen in the usage for the same.