The decade of the 2010s witnessed cheaper smartphones and greater accessibility to fast internet services everywhere in the world. This, in turn, accelerated the demands of the consumers to move to digital payment methods from the traditional cash payment methods. Access to faster internet means consumers can now tap into ecosystems that weren’t entirely available to them until recently. Moving up to the decade of the 2020s, and we are likely to witness a rapid deceleration in the growth of cash in a lot of economies, including cash-centric economies too. With everything available on our fingertips, payments online is a smart choice in 2020. Owing to the tremendous growth of online bill payments has led to an increase in the demand for online wallets as well. An E-wallet not only saves you precious time but also aids you to save big bucks. Within a few seconds, a user can enjoy payments online while relishing a myriad of offers and deals.
Features and benefits of online bill payments:
1. Bill payments are convenient
One of the primary advantages of online bill payments is their utmost convenience provided to the customers. You do not need to log into several websites and remember your passwords. A lot of providers also offer an option of pre-scheduling your payments on your due date or any other day you want to choose. This means that you do not miss any deadline.
2. Bill payments are secure
Financial institutions now use the best and the latest security protocols to secure their customers’ transactions. Several methods are incorporated into online bill payments services to keep your information safe and secure. These include usernames and passwords, numerous security layers like verification and OTP (One Time Password), automatic sign-off if your session is idle for too long, and encryption process- which keeps your data hidden during an electronic transit. All that’s said, online bill payments are entirely safe and secure.
3. Bill payments keep you organised
Paying bills the traditional way can make your organizationally challenged. This means you can easily lose focus on your finances. Electronic payments help you organise your finances. With all your bills and payments at a single place, you can easily determine if something is posted incorrectly or if you might have missed on an entire bill payment.
4. Bill payments save your precious time
Paying your bills with the help of an online wallet or debit card or even credit card saves you a lot of your precious time. Also, you can also automate your online payments for ease in a transaction and hassle-free payments, despite your busy schedule.
5. Bill payments help save green
When you pay your bills online, be assured that you’re doing your part towards saving the Earth. Though small, but it’s a significant step towards decreasing the use of paper, and thus, saving trees. Also, less mails and fewer envelopes to open also mean less hassle and less paper waste.
Now, with Indiabulls Dhani app, a personal loan app by Indiabulls Dhani, you can now make instant online payments and live a hassle-free life.