June 17, 2024

Notification on financial transaction. Laptop with electronic receipt. Online payment confirmation via SMS. Vector illustration in flat style.

All the effort to get out of your comfort zone and move out to pay your pending bills has been resolved since the online bill payments came into existence. You have your internet-enabled smartphone in your hand, and you are more than good to go. For instance, electricity bill payment online nowadays is as easy as ordering groceries online. 

Go back in time. Do you remember how transactions were done a decade ago? Well, there has been a significant change as people literally hesitate to carry cash nowadays. Instead, they just take out their smartphone, scan a QR code and are more than good to go. Moreover, when it comes to mobile, electricity, water and broadband bill, etc., everything can quickly be done on your smartphone if you use the right application.

In recent years, smartphone penetration has witnessed a major hike among all age groups due to easy and cheaper access to the internet. This has undoubtedly contributed immensely to the ‘Digital India’ revolution. 

What are online payments?

Payments done via the internet network for goods and services purchased online or offline are known as online payments. UPI (Unified Payment Interface) is one of the most common methods to facilitate online payments and is widely used across the country. 

Further, it is a real-time payment platform produced by the NPCI (National Payments Corporation of India) that enables online transactions between bank accounts via a single app.

What are the benefits of online payments?

  • Available 24×7

Online payment can be made at any time of the day from anywhere. So, you don’t have to worry about the operational hours of the electricity department as online electricity bill payment can be made anytime as per your comfort. 

  • Secure

When it comes to online payments, encryption is used here to keep each and every detail safe. This same thing isn’t possible with all the other transaction methods, so these payments, without any doubt, offer the best security for transactions. 

  • Rewards

Do you ever wonder why more and more people are inclined towards online payments? Yes, they are convenient to do, but every time you make a digital payment, you are rewarded. Now, these rewards can be in the form of cash, coupons etc. 

  • Time-saving

Instead of counting cash and carrying it everywhere, you just have to do a few taps to make a transaction online. For example, when it comes to my airtel bill payment online, I receive a notification about my bill cycle, and within seconds, I pay my bill. 

Which app to use for online bill payment?

Please don’t consider this write-up a promotional one, as I’m just sharing my personal experience so the readers can easily understand. I’ve been using the Bajaj Finserv application for around five months now, and all my payments are being done via it. It is available on both Play Store and App Store and has a lot to offer. Go and explore it! 

Leave a Reply