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Home/Questions/How has the rise of digital money impacted traditi...

How has the rise of digital money impacted traditional systems of payment?

Class 7Social ScienceFrom Barter to Money

Verified Answer

The rise of digital money has transformed traditional payment systems by providing faster, more convenient alternatives like mobile payments, credit and debit cards, and online banking.

· Digital money has made transactions quicker and more accessible, especially for online shopping, reducing the need for physical currency. It has also expanded financial inclusion by allowing people in remote areas to access banking services through smartphones and the internet.