Financial data can be easily recorded when processed electronically

When you use an e-payment service such as a mobile wallet, the settlement is processed digitally. This means that there is a record of the transaction. As such, financial data can be compiled seamlessly and efficiently. For instance, the direct operator billing adds payments to phone bills. The advantage of this is two-fold. First, buyers will be able to oversee and regulate their expenditures since they have a record of their purchases. Secondly, governments and researchers do not have to spend time and money conducting periodic samplings and surveys to gather data of real-world transactions. They can easily access this information to deal with issues such as black money and other activities.

Records of financial transactions can be accessed easily