The yesteryear scene of a customer and vendor counting the wads and fumbling for change is disappearing fast to be replaced by the quick, efficient and easy digital transaction methods. More and more transactions are now going digital seeing its tremendous capabilities and soon cash payments will be a rare sight. The tectonic shift in the payment behaviour of customers happened post the invasion of smartphones into the day to day activities of our life and it is high time we tapped the potential of technology to simplify our financial lives.
Let’s take a look at some ways digital transactions are gonna make our lives easier and more rewarding.
Convenience factor Starting off with the most obvious one- the ease of doing various payments right in the comfort of your couch. There’s no more need to carry wads of cash or stand in queues at counters or ATMs. Since digital transactions can be carried out anywhere, anytime, you can put good use to the time which would otherwise be spent carrying out tedious transactions.
Multiple bills, one payment solution
Digital payment apps have progressed to be the one-stop destination for paying up all kinds of bills be it electricity, phone, mobile recharges or any other utility bill for that matter, with ease and efficiency using a smartphone.
Tracking payments and easy budgeting A great benefit of carrying out transactions online is that it is all recorded under the history tab for your convenient perusal later on. No more bundling up of the old bills anymore. Every transaction, big or small is recorded online for future reference and this takes us to the next advantage of digital payments- easy budgeting. Tracking your online expenses makes it easy to realise where and how you’re spending your money and in turn, budget accordingly. Reward points and discount coupons What if you earn while you pay? Going cashless helps you accumulate reward points while you purchase online or swipe cards at POS terminals. Get cashback offers, discounts and coupons solely based on transacting online as well! Security of going cashlessTravelling around with cash in your pocket can be both difficult and risky. Under the circumstances of theft, you can easily lock your card or app and prevent any fraudulent transactions from happening!
Well those are some striking advantages of going digital! The habit of transacting digitally is climbing at breakneck speed compared to earlier times and we urge you to join the squad asap and experience the joy of simplified payments!