Final answer:
Banking on the road refers to the use of mobile or online banking services to conduct financial transactions while on the move. Some applications of banking on the road include mobile banking apps, online banking platforms, and contactless payment systems. The advantages of banking on the road are increased convenience and time-saving benefits.
Step-by-step explanation:
Banking on the road refers to the use of mobile or online banking services to conduct financial transactions while on the move. Three applications of banking on the road include:
- Mobile banking apps that allow users to check account balances, transfer funds, and pay bills using their smartphones or tablets.
- Online banking platforms that enable users to access their accounts, make money transfers, and manage investments through a web browser.
- Contactless payment systems such as mobile wallets or payment apps that allow users to make payments at stores, restaurants, or online without physical cash or cards.
Two advantages of banking on the road are:
- Convenience: Banking on the road eliminates the need to visit physical branches, allowing users to manage their finances anytime and anywhere.
- Time-saving: With banking on the road, transactions can be completed quickly, saving time compared to traditional banking methods.