Question

New passive monitoring systems allow us to pay tolls automatically or simply show our phones equipped with systems like Apple Pay. Convenient, for sure. But these systems also eliminate the transparency of the connection between the stimulus and the response. As a result, we don’t think as much about the costs when we use them. Is this a problem for consumers?

Answer 1

These digital payment systems have changed the way we look at such costs. Earlier when we happen to pay by cash, a consumer used to think about the altralterna usage of the cash. But, with the coming of new advancements we see a change in the way people make payment. The response time has gone down. People don't think if ihe associated costs. It has to a certain extent increased the liquidity of money. Due to which we seldomly take into account of our sending.

This has benefited the consumer in terms of better, faster and secured method of payment.

On the other hand it has also increased the number of transactions per consumer.