Since the demonetisation took place on November 8, 2016, there has been an increase in the usage of mobile payment app. Many apps have emerged as the biggest gainers during the demonetisation period. They have built a stylish interface, have made them more user-friendly, and are constantly updating their apps with new features. The mobile apps are adding over 1 million users each day after the demonetisation event.
But what makes these payment app unique and stand out from the traditional banking experience? Following are the benefits and features of using them:
1) Accessibility: A mobile payment app is really easy to use, for starters. All you have to do is go to your phone’s app store and download the desired e-wallet. You then have to create a user ID and password to login to the app. You can then transfer funds, pay utility bills or recharge your phone, on the move.
2) Moving of funds to bank account: Apps like Payzapp, allows you to transfer funds in 4 simple steps. You have to:
- Click on pay/send option
- Select the bank icon
- Enter the recipient’s account name, account number, IFSC code, amount and account type
- Your payment is made in just a click
3) Reloading cash: It is also easy to reload some money using the net banking, credit card and debit card. You can also store these details in your mobile payment app, which makes the process hassle-free for further use. You can also make a transaction instantly that way.
4) Split bill: Some payment app has the split the bill feature. You have to enter the amount, the reason and the phone numbers of the people with whom you will split the bill. A payment link will be sent to the number of people you have added, and they can pay it off through their app.
5) Flexibility: The best part about mobile payment apps is that you can recharge your DTH, mobile phone, broadband, buy air or bus tickets, etc. You can also use the apps at your Kirana shop for purchasing your day to day things. Indeed, mobile payment apps have come a long way.
6) Chat messenger: You can also chat with the customer care via your payment app. Some are also connected with WhatsApp and Facebook Messenger. That makes it easier for you to transfer money through your WhatsApp contact list. The format for it is: type ‘150FC’ to the concerned beneficiary’s number and INR 150 is transferred to the person.
7) Incentives: Another important benefit of a mobile payment app is that you can avail of the discounts and deals which the app runs on a regular basis. They also have cashback offers in association with some banks. Make optimum use of the promo codes.
With hosts of benefits and features, there is no second thought on why you should not have a payment app on your smartphone!
But what makes these payment app unique and stand out from the traditional banking experience? Following are the benefits and features of using them:
1) Accessibility: A mobile payment app is really easy to use, for starters. All you have to do is go to your phone’s app store and download the desired e-wallet. You then have to create a user ID and password to login to the app. You can then transfer funds, pay utility bills or recharge your phone, on the move.
2) Moving of funds to bank account: Apps like Payzapp, allows you to transfer funds in 4 simple steps. You have to:
- Click on pay/send option
- Select the bank icon
- Enter the recipient’s account name, account number, IFSC code, amount and account type
- Your payment is made in just a click
3) Reloading cash: It is also easy to reload some money using the net banking, credit card and debit card. You can also store these details in your mobile payment app, which makes the process hassle-free for further use. You can also make a transaction instantly that way.
4) Split bill: Some payment app has the split the bill feature. You have to enter the amount, the reason and the phone numbers of the people with whom you will split the bill. A payment link will be sent to the number of people you have added, and they can pay it off through their app.
5) Flexibility: The best part about mobile payment apps is that you can recharge your DTH, mobile phone, broadband, buy air or bus tickets, etc. You can also use the apps at your Kirana shop for purchasing your day to day things. Indeed, mobile payment apps have come a long way.
6) Chat messenger: You can also chat with the customer care via your payment app. Some are also connected with WhatsApp and Facebook Messenger. That makes it easier for you to transfer money through your WhatsApp contact list. The format for it is: type ‘150FC’ to the concerned beneficiary’s number and INR 150 is transferred to the person.
7) Incentives: Another important benefit of a mobile payment app is that you can avail of the discounts and deals which the app runs on a regular basis. They also have cashback offers in association with some banks. Make optimum use of the promo codes.
With hosts of benefits and features, there is no second thought on why you should not have a payment app on your smartphone!
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