In today's technology customers and businesses are adapting to the online payment/receiving methods because this is more convenient and fast. There are advantages and disadvantages on the method of electronic payments. Lets' start with the advantages, it saves you time because you can pay at the comfort of your home or wherever you are through your mobile phone. Transaction is paper less especially if you enrolled to automatic payments and it avoids late payments. The disadvantages, some businesses charge a fee when you pay online. You may overlook errors from billing statements that were enrolled in automatic payments and lastly the security. It is a MUST to verify the companies that you're transacting with if there are legit and your personal information are secured. There are lots of companies that have a secured site and will protect you from identity theft and fraud. That's there number priority to secure both ways, sending/paying on customer part and receiving on the other end.