(Video/Blog) Contest results! 27 of your essays have been analysed

This past week, 27 of you submitted essays in response to our contest essay question:

Someday paper money and coins will be replaced by credit cards and online methods of monetary exchange.

Do you agree or disagree?

Below you will find a video analyzing a few of the submissions. This is followed by copies of all 27 essays. I used the IELTS Task 2 Writing band descriptors (public version) to grade the essays.

Please note that I am not an IELTS examiner and my assessment of these essays, although based on my experience as an IELTS essay teacher and the IELTS.org Task 2 Writing band descriptors chart, may not reflect the actual mark they would receive in a real IELTS examination.

Essays have been arranged in order of quality. Green essays denote submissions I feel place above a 7, blue essays scored roughly a 6 and red essays placed at various bands below 6. Please provide some feedback via a comment on this blog post.

Essay 1


People nowadays are presented with numerous ways of paying for purchases. Both the traditional paper money and coins and the much newer ways of payment, such as credit cards, are available in most establishments. However, it is argued that eventually the modern way of monetary exchange will replace the use of paper money and coins. This will be proven by looking at the advantages of modern money exchange over the traditional forms of payment.

Firstly, it is now increasingly common for people to shop online. To illustrate, an American study once showed that more and more Americans are now doing their Christmas shopping online instead of trooping to the stores to buy gifts for their loved ones. Since paper money and coins cannot be used to pay for online purchases, this example makes it clear that there are instances where traditional money cannot be used for payment. Thus, it is clear that eventually people will embrace the modern ways of monetary exchange for them to be able to participate in online commerce.

Additionally, the security features of credit cards and online method of monetary exchange give authorities the capability of tracing the use of the cards. On the other hand, if person carrying money is robbed, it is difficult to find out where the stolen money is used. It is therefore argued that the safety features of modern monetary exchange will be invaluable for people who want to keep their hard earned money safe. As this benefit is sought by many, it is clear that credit cards will be chosen by people more often as their payment method.

After looking at the above, it can be seen that modern monetary exchange has advantages over paper money and coins. It is thus expected that the use of credit cards and online monetary exchange will eventually replace the traditional forms of payment.


Essay 2


As our world becomes increasingly technology dependent, online payments and credit cards have no doubt become a much more prominent method of purchasing goods and services. It is however disagreed that banknotes and coins will be completely eradicated in the future as a result of this development. This will be proven by looking at the tangibility of modern currencies, as well as the security risk involved with virtual transactions.

First of all, the modern day paper and metal currency is a convenient, tangible medium of exchange. Unlike credit cards or electronic exchanges which often take time to transfer, banknotes and coinage have actual physical existence which provides the bearer and merchant an instant exchange of material asset. This not only will simplify the exchange progress but also allow the immediate use of cash for other transactions. Thus, the feasibility of using cash will no doubt secure its existence in society.

In addition to this, many transactions involving the use of credit cards or online payments can entail a lot of security risk. For example, if a credit card has been stolen and tempered with, fraudulent transactions can occur. The person who comes across such misfortune will most likely be charged for any purchases that someone else has made. Thus, this clearly shows that using other payment methods other than coins or paper money can be unsafe and will not be used as the sole source exchange for this reason.

After looking at how modern currency can be easier for daily use and the security risk involved with credit cards or other online payment methods, it has been shown why currencies will never be completely replaced by any other exchange mediums. It is therefore hoped that people can continue the use of modern currencies for its many benefits.


Essay 3


In this day and age, economy has been developing beyond our wildest expectation. This is apparent throughout the world. It is argued that paper money and coins will be replaced by other means of exchange, such as credit cards and electronic transfers. This will be proven by looking at the recent changes in credit cards uses as well as humans’ lifestyle.

To begin with, credit card use has been increased dramatically since the beginning of twenty first century. For instance, according to a research conducted by Canada, in 2010 there was forty five percent rise in credit card users all over the world. In addition, many developing countries are starting to use cards to daily purchases. When considering this example, it is obvious that in the future paper money and coins will not be used. Thus, credit cards will replace the paper money.

Secondly, humans’ lifestyles have changed considerably due to the technology improvements. People are always looking for an easy way to live their life. Online payment methods have attracted thousands of people. For example, nowadays, paying bills and buying goods through the internet has become the easier way compared to paying by paper money. In addition, people do not need to carry large amount of money with them because of credit and debit card facilities. When looking at this example there is no doubt that paper money and coins will go out of use.

To conclude, after analyzing the area of credit card uses and the advantages for the humans’ lifestyle. It has been fully justified that credit cards and electronic fund transfer methods will fully replace the money notes as well as the coins. It is believed that more security measures will be introduced to protect the credit card users in the foreseeable future.


Essay 4


In this era of Globalization, Privatization and Liberalization people,the world over,use various methods to shop online. Many people argue that usage of paper money and coins is dissolving because of the “plastic monies” which are secure, instant and reliable. It is hoped that this new payment method will replace the traditional one. In this essay, I shall discuss the reasons for this possible change and substantiate with examples.

First and foremost, gone are the days when people would carry a large amount of money to purchase the goods. Today, most of the business organizations accept credit cards, EFTPOS, BPAY and the Internet banking. These payment methods have made the shopping experience more convenient. The website E-bay is the epitome of this scenario. This website enables users to search a product, used or new one and upon reading the comments and reviews of the product a customer can use various payment options to buy things, sitting anywhere across the globe.

In addition to this, paper and coin monies have a risk of theft. Consequently, it is a risk while commuting an exorbitant amount of money to a bank or a shop. My friend, Michael Joe, a veteran entrepreneur was robbed when he was carrying about $5,000 after closing his winery shop in Sydney last month. Although he had an option to deposit the monies using the Internet, he opted the traditional method to carry the amount to the bank. Thus, the traditional transaction methods can put an individual’s life at stake.

To put it in a nutshell, though many people still prefer the paper and coin monies, the new payment methods are taking over the latter option. It is expected that the Internet transactions and the plastic money will completely revolutionize the exchange of finances.


Essay 5


Most people would agree there are many alternatives to pay for goods or services nowadays. It is a universal phenomenon that increasing number of people tend to choose credit card or online money transferring as main payment methods. It is believed paperless financial tools will replace traditional paper money and coins as dominate payment tools someday. This will be proven by analyzing people’s security concern and accessibility to paperless financing tools.

Firstly, there is no doubt that paperless financing measures are safer to keep and pay compared with paper money. For instance, many robberies reported in United States use to happen at nearby Automatic Teller Machines or convenience stores since cash could arouse criminals’ desire to money. Apparently, if all those transactions can be paid by credit card or online payment tools, less people will be robbed since robbers have no path to get money from a credit card. Therefore, it is clear people have intention to use paperless financing tools because of security concern.

Furthermore, online payment solutions are easier to operate and more and more stores begin to accept credit cards as a payment method. For example, Paypal is an easy-use online payment method that devised by eBay and Paypal has become fourth payment tool in United States due to the popularity of online shopping. In addition, stores are willing to take credit cards since customers would consume more with their credits in advance. Thus, people have more accessibility to use paperless financing methods and this contributes to the decreasing use of paper money.

After considering above points, it can be concluded that cash and coins will be substituted by paperless financing tools because they are more accessible and safe to use. It is expected that lower interchange and merchant fees will accelerate the development of credit cards and online monetary payment tools.


Essay 6


The way we pay for goods and services these days is different from the way we used to back in the day. Credit card or ‘plastic money’ as we call it today and online methods seem to predominate the traditional way of paying. It is agreed that new methods will replace the old ones as they are far more efficient. This opinion will be supported by looking at the advantages of new modes of monetary exchange over the traditional method.

Firstly, electronic payments make our life easier, as we do not have to worry how much money should we carry with us when we go shopping. For example, we can go in store, pick up things we need then go to cashier’s desk and just swipe the card. Even though we do not have so much control of how much we spend, this seem to be more convenient way as it is going to the bank to get cash and then spend it in the shop. That way we save some time but we certainly cannot say the same thing concerning money.

Secondly, when buying products online it is quick and easy to use online payment. Ordering from the web and then going to the bank, for instance, would be time consuming and we would have to wait much longer to get what we ordered. Furthermore, purchasing from home is also environmentally friendly and we do not spend money for petrol to drive to the trade. Thus, it is clear that this manner saves us time and money.

After looking how electronic ways of payment makes our lives more comfortable, it has been proven that paper money and coins could be a history topic in the near feature.


Essay 7


The recent shift of credit cards from the opulent wallet of the elite to the pocket of the common man has no doubt revolutionized the very concept of economic transaction. But whether paper currency and coins will one day wane away from society to be replaced by credit cards is a possibility very remote. This can be proved by analyzing the various setbacks that one has to encounter in a cashless society.

First of all, plastic money however convenient cannot be used to make small payments to individuals. For instance, paying daily wages cannot be done with credit cards as it difficult to imagine a society where menial workers and beggars would have access to internet. In the same way, lending money to a friend at a needy hour cannot be practised. Such dealings could only be done  through banks which needs to work round the clock .Thus always using credit cards in lieu of cash can be awfully inconvenient.

The fact that credit card transactions can lead to various kinds of manipulations by illegal hackers is yet another reason why people would want to keep away from using credit cards all the time. If carrying huge amount of cash is not safe, so is the use of credit cards. For example, there are special kinds of software by which hackers can break into our bank account and rob us of our money.

So to conclude, credit cards though apparently may seem to be more convenient and safer for making larger payments   can be very cumbersome for making small payments and it can be really unsafe at many times. These charges pending, it is very unlikely that paper money and coins will completely vanish from our society.


Essay 8


There are various ways an account or a commercial transaction can be settled.  Legal tender money is the traditional mode of paying a debt. However, it is argued that credit cards and internet transactions will replace bank notes. After looking at the security and economic fears associated with internet transactions and credit cards payments, this is hard to believe that paper money will be replaced by these methods of payments.

To begin with, there is always a safety concern that some one can illegaly tamper accountholder credit card and electronic account. To illustrate this, in Australia one teenager fraudulently accessed many clients’ bank accounts and withdrew two million from their accounts.  Despite the combined efforts of banking companies and legal authorities, such hackers are finding ways to access public credit cards and online accounts. Thus, there will always be a security concern for settling accounts through internet and credit card, which will persuade people to switch back to paper currency.

Furthermore, another factor which discourages the use of credit card and net banking is the financial charges involved with such accounts. For example, in Australia many vendors charge nearly three percent transaction fee if someone wants to pay by AMEX. Due to the additional transaction charges and other hefty fees for the use credit cards and operating internet banking, it is obvious that many individuals will avoid using such types of accounts. Hence, it is clear paper currency will remain the first preference of many prudent customers.

In conclusion, even though credit cards and net banking is becoming popular, the paper currency will still remain the choice of many patrons. So it is clear that there will not be a radical change in near future and paper currency will be in circulation.


Essay 9


Due to the advent of credit card and computerized payment technology, people could save the cost and time for them to settle about the price of agricultural products or clothes and so forth. This technology has also brought us the society that is considered the most convenient period for customers since the beginning of humanities history. Some people argue that online methods for paying mechanism or credit cards can not alter the present system that has utilized paper money and coins. This will be proven by looking at how it is difficult to establish other facilities enabling people to use credit cards within their communities and how such society would be placed under threat such as hackers attack.

To begin with, it will take long time for people to modify the present system entirely which use widely cash everywhere in the society. For instance, China consists of different tribal and magnificent size of lands which also could not be calculated by their researchers. Given such circumstance, it will not be possible to educate them how to use the credit cards or online methods not only in urban but also in rural. Thus it can be seen that vast size of land would not allow human beings to change their communities from paper money driven to credit cards driven.

Secondly, the rate at which a lot of countries are being damaged by hackers attacks is alarming and thus the unstable and incomplete securities in the bank networks would refrain people from using online payment methods. For instance, in Korea, the vast majority of computers associated with banks suffered from the hackers invasion were regarded one of the major problem recently as they were offering the password and identification concerned with personal bank accounts to others who are not authorized to withdraw the amount of money from the banks. The growth of hacking habit might be detrimental for customers who are like to create credit cards. Therefore, it is apparent that incomplete and unstable securities in terms of banks system might be considered one of the major sources to interrupt credit card driven communities.

After looking at my opinions, the conclusion can be drawn that limited number of appliances and incomplete securities in the networks will lead to the community which continuously use paper money. Therefore, it is hoped that expansion of appliances which can recognize credit cards as a money and stable security would play a pivotal role in altering payment mechanism to the computerized one.


Essay 10


Nowadays with the advanced technology credit cards and online method of money exchange are common. People like to keep credit or debit cards in their valet instead of coins. However it is disagreed that someday notes and coins will be replaced by credit cards. It will be proven by analyzing how technology can fail as well as the people’s ignorance of advanced technology.

Online money exchange or use of cards needs the help of technologies like computer and internet. Any failure in the technology results failure of transaction. For example, when an internet connection failed in a shop they may ask the customer to pay by cash and they put notice which saying “cash payment only “until the system being corrected. On these types of situation people need cash or coins to purchase things.Thus; it is clear that cash and coins cannot be fully replaced by cards or any other method of money transfer.

People illiteracy in the use of computers and internet causes difficulty in online transaction. For instance, older people they may not be very good at using computers and internet, this may result in the intentional deception and loss of money ,as a result especially senior citizens feel safe purchasing things by cash than cards. Thus it is understandable the importance of paper money.

Following the analyzation of the need of paper money or coins it is clear that credit card and other online money exchange will never fully replace the cash or coins.


Essay 11


In the past few decades, people are using credit cards and saving cards for their expenditure more than paper money. The reason is that this process is convenient and humans feel that this is more secure than the conventional way.  Considering the popularity of this trend, I personally believe that paper money and coins can taken over by cards and electronic means.

To begin with, credit cards and saving cards definitely assists to increase the security of people, as they feel comfortable that their money is always safe. To be more specific, if someone loses their paper money, there is no way that they can get their lost money from banks. However, if someone’s credit card is stolen, they can immediately block their cards from being used. This high security is one of the reason why I believe that plastic money will replace paper money. With reference to convenience, there is no doubt that cards are easier to use, than paper currency. Moreover, people can evade the hassle of exchange their currency while travelling abroad, as most of the credit cards can be used globally without any transformation.

Furthermore, nowadays, internet banking has also become the latest method that people use on regular basis. This system helps to save plethora of time and money for people and this method is also highly secured. For instance, most of the companies, in Australia, credit wages to their employees directly to their banks. This saves money and time for many businesses. Additionally, employees can also get interest every month on their savings account, if they have adequate money. Whereas, the convention system of cash and carry does not have any of these benefits.

Even though plastic money and internet means of exchange has many benefits, I strongly believe that paper money will still play a part in the future, but not in a huge manner.


Essay 12


There has been significant increase in usage of credit cards and online transactions. It is obvious from the fact that almost all retail chains and super market provide these facilities. It is agreed that people will start using credit cards and online methods of monetary exchange rather than doing cash transactions.  This will be analyzed by how these provide convenient, fast and secure transactions.

Firstly, an important aspect of using these plastic cards for buying items is that these are easier to carry as compared to currency notes. For example, they can be easily accommodated in the wallets without taking any noticeable space. They are also very much hassle free as you do not need to count them every time you go out for shopping.  In addition, cashiers will be able to serve customers at super markets at a fast pace, provided credit cards are used, which in turn will result less waiting time for the people in queue, which is quite frustrating at times. As a result it seems that credit cards will be used by all rather than use of traditional money.

Secondly, online methods of monetary exchange are considered to be safe and secure. This is apparent from the fact that there are a growing number of web portals and online shopping sites, which are equipped with facilities using these methods. One common example is Amazon book store which facilitates the user to purchase books online using credit cards in addition to keeping the customer details and information strictly confidential.  This is not the case with paper money as they can be easily grabbed by pickpockets. Thus, it is most likely that online methods will replace the old methods of monetary exchange.

On the basis of above analysis, it is most probable that all of the trade will require credit cards, whether buying any item in super markets or shopping on the internet, due to the security and convenience it has to offer.  It is expected that more customers will be moving towards these modern ways and thus usage of currency notes will be eliminated.


Essay 13


With its growth, technology has permeated into all areas of society.  Thus, it is little surprise that the monetary sector has also become heavily influenced.  It is argued that the use of technology driven method like credit cards to exchange money is increasing widely in lieu of paper money or coins and soon there will be no paper money for monetary exchange. This will be shown by analyzing how credit cards and online methods of payment system has become popular globally and makes life easier by saving time and dependency.

Firstly, the electronic money has become more and more popular among people to carry around worldwide. For example, during my last year visit to Russia, I paid my hotel bills as well as some of my other expenses by credit cards. Thus, it was very convenient method of payment instead of carrying that amount of paper money with me. As this sort of instant use of credit card for various payments is increasing rapidly so that there will be less use of paper money and coins in the coming days.

In addition to this, online transaction through credit cards is much more time saving and less dependency process of payment nowadays. For an instance, many people around the world use their credit cards or bank accounts to buy things like books, games, movies etc. from the online website Amazon.com without going there physically. Thus, this method of payment makes life easier and hassle free for the both parties, the buyers and the sellers. As this kind of transaction or purchase is impossible through paper money, the more and more use of credit cards can be seen.

After analyzing at how credit cards and online method of financial transaction has become popular, time saving and less dependency, it is clear that these methods of economic exchange is growing heavily.  It is expected that the form of paper money will be replaced by credits cards and online methods of financial exchange in the near future.


Essay 14


In the present age, paper money and coins are the most popular methods of payment in most countries. In some modern and developed nations, people are starting to pay their purchases and bills by credit cards and online methods of exchange. This, as a result, leads a large number of people to believe that such ways of paying will substitute paper money and coins in the immediate future.

It is fairly easy to understand why this belief is made. With the latest information technology, it is always comfortable and convenient of people to pay their household bills and ordered products on their own computer at home. In addition, using credit cards can make sure people don’t have to worry about losing money or coins any more. For these reasons, such methods of payment are very safe and time-saving.

The grounds for this belief are also based on the disadvantages of traditional methods of paying like paper money and coins. To begin with, it is the paper money that has been known as a diseases carrying thing for years. Also, it is always possible for people to lose their paper money or coins if they do not keep them carefully. This makes sense that people may want to change this dirty and unsafe ways of paying into other safer and more convenient ones.

My own view is that it is definitely necessary to replace paper money and coins with credit cards and online methods of monetary exchange. The positions for this saying are the increasing popularity of computers and people’s natural demand for comfort and safety.


Essay 15


Today every aspect of our life has been revolutionized by the new technology and the financial sector is not an exception. Therefore, the traditional ways of the monetary exchange have developed into electronic ones. Some people believe that these online payment facilities will be used instead of paper and coin money while others disagree. However, There are several pros and cons of these online methods. This essay analyzes those two points of view in this order.

Perhaps the opponents of using these automated ways put strong argument based on several reasons. Firstly, people concern about the confidential issues .For example ,through the online financial transactions many people are exposed to the fraud by the individuals and fake companies. Secondly, if the supermarkets are dealing with credit card but, what about the small shops that sell the vegetables or sandwich along the street in the poor countries.

On the other hand, the proponents see the widely use of the electronic financial services in the future based on its various merits . One of the biggest benefit of credit card is the abroad use over the world at anytime and anywhere. Take an example, the customer can use master card for shopping in Europe or Asia in any time while travelling . Moreover, this kind of payment system is efficient,paperless and easy to use. In addition to above, unlike cash, if the credit card has stolen ,only person has to report it for card company immediately will stop using it by someone else.

After analyzing the above points of view of this debate ,I believe on using online methods side-by-side with paper and coins money . Needles to say , these kind of payment methods are great tools and make life easier. However, the lack of safety in term of fraud have led some people to avoid it. Also the lack of using in some place because of poverty ,will reduce the probability of using it completely instead of traditional money in the future.


Essay 16


Since the horizon of the twenty first century and world being considered a global village, science and technology has progressed leaps and bounds in all fields. Where currency remains the common denominator in all kind of businesses, banking sector is also constantly updating and improving its services by accepting new innovations in modes of transactions and money transfer across the continentals. Thus refuting the statement that old ways of money saving and transactions will stand a place in this fast paced developing world, holds no ground. This will be proven by considering the functioning of World trade and importance of the phrase-“Time is money” all over the world.

Firstly, with every passing year more and more countries are becoming part of the world trade organization and trades between countries and continentals are becoming the backbone of a nation’s economy. Payments of such mass scale are not possible and not at all safe in cash and are totally replaced by online intercontinental bank transactions. This quick mode of money exchange is not only beneficial for the consumer but also for the banking sector as the money remain in the banks, and thus benefiting both parties in terms of interest on the capital. Thus it proves that it’s not far that even trades within a city will be done online and through credit cards.

Secondly, the argument is supported by highlighting the importance of a very common phrase “time is money”. In this materialistic world a good life style is totally dependent on money which is directly proportional to how much one toils his or hers sweat to get it. Thus people would be more than happy to adopt every possible measure where time can be saved and utilized productively.  For example if all utility bills, university fees, travelling tickets and shopping payments can be done with one click through your credit card while sitting at home, why would someone bother to go to all places and waste so much time. Therefore there is no denying the fact that online and credit cards will replace the cash money vey soon in future.

It is concluded that its not far that paper money will be replaced by online banking in future in the light of growing world trades and better utilization of time. And developing countries like India, Malaysia and Singapore are the best examples, adapting to these measures.


Essay 17


Information Age has transformed many aspects of our lives including new methods of conducting business transactions without cash. It is predicted that traditional forms of money will disappear, thus people will be using bank cards and exchange money online. This essay will discuss whether this replacement is feasible.

To begin with, it is undeniable that electronic cash has become predominant these days.  Statistics shows that there has been a significant rise in demand for electronic banking through facilities such as ATMs and internet banking. This trend is due to the convenience and increased efficiency by using online methods. For example, customers can purchase goods at their own home with the click of a few buttons instead of going to the store to complete the transaction. In addition, trading without the exchange of anything tangible helps preventing crime such as robbery. For instance, recently some shops have not kept any cash on their premises and preferred electronic payment for security purposes.

On the other hand, the shift towards a cashless society has faced some obstacles along its progress. Firstly, not everyone is familiar with exchanging money online, especially the elderly. Most of them do not have basic computer skills and internet connection at home to be able to transfer money via the Internet. Secondly, instead of making robbery a thing of the past, electronic cash has moved it to another level which is cyber crime. This happens when people’s money is stolen by hacking into their bank accounts.

In general, the use of bank cards and online monetary exchange has become more popular in the last few decades. However, this does not guarantee a complete replacement of original forms of money due to the non-acceptance among older generations and security issue. It may take a long time for the change to be completely embraced by society.


Essay 18


As the popularity of online shops has increased rapidly, more and more people start to do their shopping online, from a bottle of shampoo to a luxurious sport car. When people do the purchase online, they don’t use paper money and coins, instead, they use credit cards or other online methods of monetary exchange such as wire-transfer fund. It seems no one can resist the trend toward online shopping, and it is agreed that using credit cards and online monetary transfer will replace the physical money we use today eventually. This position will be proven in the following paragraphs.

Credit cards and electronic fund transfer makes buying things much easier and delightful. When you go out to shop or travel, you don’t need to bring a lot of money, and if unfortunately, you lost your credit card, there’s not much to worry about because you just need to call your bank and ask them to suspend the card. Therefore, you wouldn’t lose a dime and your day will not be ruined.

It can be very depressing when you find something you love but you don’t have enough money with you at the moment. The good news is, there will never be “I don’t have enough money with me.” or “Where is the nearest ATM?” again. You will always have enough money with you as long as you have a credit card, and at the same time, you are also free from those coin changes which burden your wallets or purses when traveling.

People have always been making efforts to change for the more convenient, and using credit cards and online fund transfer are on the trend. It’s inevitable that paper money and coins will be replaced by them sooner or later.


Essay 19


Credit cards have been extensively utilized nowadays since they were first introduced to the public decades ago. Credit cards are so popular that people find them convenient to use for payment instead of cash.

Before credit cards had not existed , people had to prepare enough money (including paper notes and coins) to pay for bills and other expenses. Therefore, they had to go to bank waiting in long queues for drawing money . Wasting time was the main point of annoying the people.  On the other hand, the anxiety of being robbed or stolen while keeping a lot of money in person , also, it is a heavy burden in the pocket with many coins.

Paper notes and coins still have their valuable functions ,small amount of transactions such as paying bus fares , buying newspapers and charity flags. Occasionally, cash payment will only be accepted in the supermarkets and shops in case of their computers are out of order.

In my opinion , credit cards will be the main consumption mode in the future , it will replace money in sometime when the facilities are widely set up to adapt the era of electronic currency and commerce.


Essay 20


It is a fact that in these days paper money plays an important role on changing commodities as well as saving throughout the world. As a matter of fact, people use it more frequently in their daily activities. However, thanks to advances in technologies, especially the Internet, this tendency will be substituted by some online techniques such as credit card. In this essay, some arguments related to this issue will be discussed in details so as to establish my position.

In the one hand, there are some obvious reasons explaining why such an opinion can be seen as convincing. One of the most powerful arguments in favour of it is that paper money and coins have a very long period in existence which is hard to change in mind. People are used to keep those inside their pockets whenever they buy or pay things. Another striking point worth mentioning is that the informatics infrastructure develops in different speed amongst countries. Consequently, it is not easy to utilise almost online payments between two countries, particularly if they are the developed and developing ones.

On the other hand, there are still a number of people who protest the above suggested ideas. They prove that the network of banking spreads widely over the world which helps the banks can connect together via the Internet easily. As a result, people can buy and sell all things without real money. Additionally, government will spend less budgets on issuing and controlling the amount of paper money and coins in societies if people use online payments.

In conclusion, the above idea does prove to be reasonable to a certain extent. But, it is my belief that paper money and coins still have a strong position in near future and people should be encouraged to use e-banking in their daily life.


Essay 21


In contemporary society, the payment and currency exchange has significantly changed. Although paper currency are using widely, credit cards and online currency exchange will replace gradually. This will be proven by analysing how virtual currency influence positively modern life and economy.

With regards to the convenience of credit cards, people can easily travel to any countries without worries about monetary exchange. For example, Australian people who travel to Singapore pay their purchase by credit cards instead of exchanging money to Singapore currency. A further advantage is that money storing in credit cards are protected by passwords, only authorised users have legitimate access. In wealthy countries, most residents deposit and save their money in electronic account that this method is safe and convenient. These examples indicates clearly the virtual currency play vitally a role in contemporary life.

Furthermore, the government and environment would benefit from the essential strategy which use credit cards instead of paper currency. Because the government restricts dramatically the increase of inflation, they can avoid the economic crisis. With regards to the restriction of paper and metal currency, community are protecting the environment that people are reducing the deforestation and dissertation. In general, people cut down tree for the production of paper currency and exploit metal to manufacture coins. These actions lead to pollute and destroy environment. It is obvious that virtual currency and credit cards bring permanent outcomes for young generation.

After analysing the above points, it is clearly that credit cards and online method of monetary exchange provide more advantages than paper money and coins. Therefore, this method is vivid strategy to manage and develop the economy in long term.


Essay 22


In the present age, people are using more bank credit cards in their daily life. Some people believe that in future the people may use credit cards and e-shopping may be popular in society. Moreover, they say that physical money may not available in our lives; however I disagree because they are playing role in our lives. This following essay will analyse this arguments.

A convincing argument can be made about using note and coin money is many people do not have credit cards. Many people are not eligible to receive credit card. When bank approve it for customers they check repayment capacity, past record of salary, other important data which often not fulfil for middle class and poor people.

Secondly, some people are educated afraid to use online purchase and credit cards payments in poor and developing countries. According to the Australian newspaper reported that more than 35% uneducated in Australia. It certainly true for them they would not be aware about e-money, online transaction.

My final argument is that there are many online frauds and credit cards stealing cases have been happening all over the world. According to ABC news said that then number has been increasing fraud shopping with credit cards. In addition, there is several fake websites steal people money from their credit cards. So, it is unsafe, unreliable alternative for us.

In conclusion, I would say physical money will sure exist in our lives. However, I acknowledge some people disagree with my idea they believe that it may be more convenient and safe, secure idea to shop online and use credit cards in future.


Essay 23


In our fascinating and constant changing world, technology is impacted a lot by automating many processes and provides safer way to live in society. One of the biggest examples is to use credit card and online method of money exchange while doing any money related transaction. Some people believe that someday online method will replace the traditional paper money and coins, but others think that it is impossible to replace completely as some cases paper money and coins is the only option to do transaction.

Firstly, people do not need to carry bulk cash while traveling to other countries or going somewhere to do a big money transaction. They can easily close the deal by using credit cards or any other online methods while it was unknown the volume of transaction before. In addition, online method is safer; there is no question of snatching money by robbers as you are not carrying any cash. Moreover, the banks, the credit card providers are offering many gifts, discount, points and cash back facilities to use their credit-card, so people can avail these benefits by simple using the cards. Furthermore, we can purchase the goods by availing one month interest free credit when we do not have paper money or coins.

On the other hand, paper money and coins are very handy for a small transaction. The shop-keeper should have minimum level of infrastructure like software, machine to provide the online facility to the customers. Some cases the infrastructure cost is more than the volume of their business so paper money is the only option for them. If someone wants to contribute few dollars to a beggar, all online methods are failed here. Customer or users should have minimum level of bank balance to qualify to enjoy the card or online facility whereas poor countries did not have enough money to provide this facility to citizens. Moreover, a small fault in software system can outage for an hour left option to use paper money only.

In conclusion, to consider the safety and other benefits of online method of money exchange, I hope, the online method will take a lead than paper money and coins but traditional method will continue to run in parallel like a maintaining a staircase of a building while availing elevator service.


Essay 24


With the current economic  inflation ,there is a worldwide depreciation in the value of money . Likewise , the ways in which people spend money have been changing considerably  over last few years.Some people hold the view that the traditional method of buying and selling with currency notes and coins will continue  is never going to be completely  replaced by newer techniques . However , others seem to  be confident of the capability of newer system to override the traditional ones . It is agreed that the credit cards and online banking will take over the paper notes and coins in coming years . This will be shown by analyzing the convenience these have to offer as well as longer life period and safety features than paper money .

To begin with , the ease of spending and investing money by credit cards and online facilities does not match anywhere with the hassles of taking money personally to the point of shopping . For instance , according to results from  a study in China , in 2008 , when subjects were prompted to fill a questionnaire  for voting in favour of  or against  use of internet for money transactions ,  three-fourths supported its use  . They found these to be  time-saving methods and more comfortable ;  than standing in queues for deposit or withdrawal of money . .Moreover , it allowed them to operate from the convenience of their home anytime of the day  . Altogether , there has been a shifting trend towards easier methods . Thus , the comforts of new ways of banking makes them preferable over cash money .

In addition , credit cards and internet are not as perishable as paper money and present more secure features . For example , currency notes  always run the risk of being torn , defaced rendering them vulnerable to lose value over time or unable to be used  . In contrast , these difficulties are non- existent with  credit cards . These , on the other hand , grant extra safety features like passwords or secret codes to prevent misuse in case of theft . Clearly , credit cards and online methods stand out higher than bank-notes and coins in terms of safety ,  as observed  and felt  .   Therefore  , credit cards seem to win over paper-notes and coins on account of being safer .

Overall , modern methods of spending offer more convenient and safer options than cash money . Thus , the credit cards and internet are agreed to become the major methods to invest money  in future . It is hoped that it is a better change to come .


Essay 25


The world currency system develops on the basis of humankind’s demand for commodity exchange and payment conveniences, so coins and paper money have been come out and existed for many centuries. However, nowadays cash is getting more and more old-fashionable for the growth of e-payment transactions. Therefore, I believe that credit cards and online monetary exchange will eliminate cash in nearly future.

First of all, the easy in transportation with a large amount of money is the most advantage of e-currency. Actually, each USD 100 weighs about one gram, so how much kilos a billion US dollars is? It is almost 10,000 kilos or 10 tons. Meanwhile a man wonder how can carry all these cashes, it is too simple for him to travel around the world with the amount in his American Express card.

On the other hand, there are more cases of cash robbery in a bank or on the road during transit than cases of account theft. It is obvious that paper money is not named its possessor, whoever takes it, possess it, so most thieves focus on cash. Some people argue the weakness of the online payment security caused a lot of worries. But all transactions are digitized and saved in the computing system, so it is not too difficult for surveyors to figure out traces of money transfers.

One more its important advantage helps e-money win cash is that using e-money will cut down expenses in printing paper money or mint coins.

Generally, paper money and coins had grown the last centuries because of its advantages in circulation. However, nowadays the development of high-tech has created many methods of online payment more convenient than any kinds of money humankind was used before.


Essay 26


On the advent of credit cards the usage of paper money has been decreasing. The internet and online shopping have accelerated this trend, however, real money will stay indispensable for everyday monetary transaction. Thus it is disagreed that real currencies will be replaced by credit cards and online transactions.

Firstly, credit cards and online purchases require introduction cost of infrastructure. More and more retailers have introduced credit card readers in their stores, which lowered the cost of the system, but still not all retailers can adopt that settlement method. Generally, there are so much overheads in paying small amount of money then privately owned stores will not introduce that kind of system.

In addition to this, these online settlement methods, especially internet shopping have a potential risk of cracking, a cyber attack by malicious hackers. The online security technology has been progressing while cracking technique has advanced. They are playing a cat-and-mouse game and some consumers are still skeptical about the safety of online shopping.

Lastly, the Internet and credit card shopping is expanding all over the world at an exponential rate these days, even in developing countries such as China or African countries whereas there are still more than three billion people who cannot take advantage of those settlement methods. And it is estimated that more than two billion people will stay inaccessible to those systems in 2020.

Considering all the points above, there are still range of advantages of real currencies and it has been proven that paper money and coins will never be replaced by other settlement methods.


Essay 27


Credit card is a new invention of modern science.One day it was hardly been thought about credit card.People now a days greatly use mobile phones,internet and other engine.They try to do their life more easy.Credit card is the blessings of science and technology.It is very easy to check balance inquiry and money transiption.Day by day it is become popular.However,people now carry  only some money on their bags.Because paper notes are replaced by credit cards.

In shopping mall,gold shops and also library have this wonderful device.Online shopping is good for busy people.They can buy or choose their product through online and then paying for this by credit card.Online shopping make them confident.They can order their favourate fast foods like pizza,syndwitch,burger and it is delivered on time.

On the other hand paper notes is risky to carry.So people prefer credit cards better than paper notes.Yes it is true all kind of sorts we use credit but we also foresee in future it may be use in hire a car or auto rickshaw.


About Ryan

I have been developing online IELTS training resources for over 10 years. For more information about me and how I can help your preparation for the IELTS, please email me: ryan@ieltsielts.com
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