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5 ways to make digital payments, for a seamless transition to a cashless life
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5 ways to make digital payments, for a seamless transition to a cashless life

Digital payment methods have become a necessity, post demonetisation. With more vendors going digital, it is time that we too embrace the digitization drive.

Here’s a list of digital payment methods you can use.

Digital Wallets

Digital wallets are one of the most convenient options to make small payments, and make an efficient alternative for cash. To use these wallets you have to first load your account through online payment which at times becomes a bit confusing and involved different steps. Citi recently introduced a functionality, enabling its clients to recharge their registered Paytm wallet directly from their Citi account in 3 easy steps. You could also charge your account with cash at select stores.

USSD transfer

The USSD transfer system of transferring money is universal to all phones regardless of their specifications. It can be used even if you don't own a smart phone or have no access to internet. You can access various banking options by merely dialling a USSD code from any phone with a SIM card. The only prerequisite is that your mobile number is registered with the bank. This service is available in 11 regional languages as well.

UPI

UPI allows you to pay directly from a bank account to various merchants without having to key-in your credit card details, IFSC code, or net banking/wallet passwords. As you will be using a unique user name to send money, your transactions are also secure. It is as easy as sending an email. You can use UPI to make purchases at both online and offline stores.

Net Banking

A preferred option by many, net banking helps you can keep track of your account transactions, transfer money, check transactions, manage beneficiaries, apply for various banking privileges and more. You will have to first activate net banking and create a unique name and password. When you are shopping at an online store, you can choose the Net Banking option to make your payments.

Credit/debit Card

Credit and debit cards have been go-to modes of payment since demonetization, for many. And this is certainly not a surprise. Both credit and debit cards come with privileges which reward users with cashback, air miles and other rewards for payments done using the cards. A lot of people have started using their cards for the first time due to the ease and benefits of using them. And with the multifactor authentication, your digital transactions are even more secure.

Though cash has ruled our economy for long, digital transactions offer an alternative that is convenient, fast and secure. The inevitable shift to cashless transactions is just a click or swipe away.