Bank Apps: Make a move from Cash to Cashless
In the pandemic where most of the things saw reduction in footfall, the number of online payments had a sudden rise. Even before the threat of Coronavirus lingered on our heads, many people were already using digital payment systems to carry out day-to-day transactions. The precautions said to be taken for Covid-19 included minimal to no contact with other people, in that case, transactions through cash were avoided by many and thus masses moved towards a better option – cashless online payments. Even though most of the services were closed, delivery services were functional. People ordered and paid online by using debit or credit card, UPI services, etc.. All types of subscriptions or payments or any recharge online could be made through different bank apps. People also used such banking apps to transfer money from one account to another.
Now, every bank has an app of its own for users to make any bank payment or any other transactions online instead of visiting and waiting in the bank. Not only is it a safe option in this pandemic situation, but it also saves money. Online transaction apps offer various discounts, coupons and offers, thus, making it pocket-friendly for the people. You can set up your account on such apps in just a few clicks and get started. Many people are afraid of online fraud or do not quite trust the whole online payment bank system. Whenever you do a transaction using any of the bank apps, it is always confirmed using an OTP (One Time Password) and a password in case of UPI-related transactions or a CVV in case of credit/debit card-related transactions. Therefore verifying you during the payment and making the process much safer. OTP is very sensitive information for the security of your funds and thus, must never be shared with anyone. You also receive a confirmation message with transaction details, after your payment is completed You can always add a password to your bank app or online payment app to add another layer of security.
Due to the rise in online payments, many apps apart from the bank apps have come into the picture. Many of them started as online wallet applications but now provide features like UPI, card payment, bank-to-bank transfer, online recharge, and much more. However, bank apps provide much more control over your account. These bank apps are not only helpful for people with accounts in that particular bank but also can be used to open a new account within a few clicks. You can now open a new bank account without ever visiting the bank, just fill out the details given and submit the documents required. With new online payment apps coming to the store every day and the competition rising, apps want their customers to remain loyal to them and thus reward them with various offers now and then. Many apps are even moving towards helping their clients invest in mutual funds and various other securities.
Make use of these apps for your convenience and benefits and enter the world of cashless transactions.