Virtual Wallet Businesses Prosper Post Demonetisation

Digital India and cashless India are two such terms which will undoubtedly rule India for the coming 10 years, if not less. There is technological upgradation happening every day, every second. This aims at making life easier and less hectic . Transactions occurring daily to become seamless for a hassle free experience . Payment through E-wallets is as trending as it is imperative. Following Demonetisation ,making your daily payments through virtual wallets is inevitable . Be it paying for Your Daily grocery  , booking your movie tickets on BookMyShow, paying for your cab from home to office and back home .And zillion other things .  There is a proliferating growth in the transactions volume of the Digital Payment business . Many digital wallets have entered the business in the recent  times including :  Paytm, Freecharge, Simpl, PayPal , Oxicash and many more.

These E-wallet companies have a few unknown facts which you might not know till date . Have a look:

  1. A big NO to Card payment devices: The E-wallets allow shop owners- Big or small to relieve themselves of handling payment devices such as Card scanners and saves on the extra cost of hiring a person (More skilled and reliable ) who would deal in Card transactions. Paytm enabled payments are enabled at all major and small stores . Even autowallahs are riding happy  with a Paytm Badge stuck on the vehicle’s parts.
  1. Transfer to Bank Account: The Paytm balance can be transferred to your bank account whenever you want to . All it takes is a meagre 1-2% of the transaction amount . This ensures Instant Cash availability and renders seamless mobility.
  1. Paytm a Payment Bank : Paytm is a payment bank. It is registered with RBI as a payment bank. Transactions upto 10000 is allowed even without KYC but beyond that limit , KYC registration shall be required. This ensures safety and regulated operations . A Bank registered with RBI restores confidence in the minds of the public and enables Risk-Free Payments.
  1. Cessation of Cash-on-delivery : One day after the demonetisation announcement was made , cash on delivery option was ceased . All the online firms / retailers stopped logistic operations of those customers who had opted for cash on delivery . This has lead the way to payment through e-wallets . Debit cards / credit cards is also an option but Paytm features seamless and quicker payment experience . Hence , it is preferable over other payment options. Freecharge has already tied up with Snapdeal in regard to this.
  1. Expiry Date: Your Paytm balance might be nearing to an expiry . Usually , Paytm forfeits an amount after a period has been elapsed . So , in case you had deposited in the paytm account your hard earned money, and have forgotten to use it over a long period , go check your Paytm account right away . Even Paytm wouldn’t want you to suffer a loss on account of this . These companies are highly customer friendly . This is the prime reason people are driven towards the same.
  1. Scores of Offers and discounts : If you are a Paytm user, you would comprehend this . You can call Paytm large-hearted when it comes to giving back to the payer .And nobody quotes it better than Paytm perse : – “We put your money back to where it belongs – Your wallet.” Its sorts of a Paytm bargain feature . Almost all payments are covered under this feature. Be it Uber payments , Mobile recharge or buying stationery .  UBER- Frequent Offers in which 25% of the payment is received as cashback by the customer in his account within 2 days of the ride . A promocode may or may not be required.  Offers may vary among different.
  1. Transfer to another Paytm Account :If you feel that your Paytm balance is surely going unused , Paytm wallet advantages enables users to transfer full balance to another Paytm account . Only the Registered Mobile number of the Payee’s account is required to be filled in . With a click and within a minute , the money is transferred into another account . As easy as it could ever get!
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