With the growth in digitalisation, many lenders and banking institutions offer mobile payment apps for easy recharge and bill payments. The emergence has added a lot of convenience to our lives. Gone are the days where you queued outside the outlet for hours or went hunting looking for stores to pay your bills. Now you can easily pay your bills online with the mobile app. Mobile app also provides options to pay with credit and debit card, net banking, mobile wallets (PPI) and UPI.
Here are 6 reasons why you should pay yourbills online:
1. Hassle-free payments
2. Facilitates secure payments
3. Track your payments on your mobile
4. Earn rewards and cashback
5. Saves your time
6. Eliminates paper waste
1. Hassle-free payments
With the emergence of mobile payments apps, you can now pay your bills right from the comfort of your home. Thus, making the whole process of online bill payment easy and hassle-free. You do not have to stand in long queues outside stores to pay your bills. You don't need to recall several passwords or log into several websites. Many providers even give you the option of pre-scheduling payments for their due date or a different day. You can use online mobile apps to schedule payments whether you receive your bills electronically or by mail. The banking institution would either pay those companies electronically or by check after arranging a payment.
2. Facilitates secure payments
Some Indians still have reservations about digital payments, believing that they are insecure and may lead to digital fraud. However, rest assured that banks employ a variety of security measures to ensure that each payment is completely secured and covered. A two-factor authentication device protects any online banking transaction. Even with UPI payments, you can choose your pin which will be used to authenticate your transaction. Several methods are incorporated into online bill payment services to keep your information safe, including: usernames and passwords, security layers that help in preventing outsiders from attacking, encryption processes that keeps your data hidden during electronic transit, and automatic sign off if your online session is idle for too long.
3. Track your payments on your mobile
Mobile payment apps ensure easy tracking of your bills and send reminders as well. Mobile connectivity is one of the most significant benefits of online banking. Many banks already have their own smartphone apps or a mobile-specific official website. These options allow you to make payments while you're on the go. This on-the-go payment versatility comes in handy for a variety of reasons, including paying utility bills on the way to work, shopping online while dining out, and exchanging funds. The 'watch your transactions' feature is one of the most critical online mobile banking features, whether you're trying to stick to a budget or just want to see when you last paid a bill. You can monitor all your previous online transactions, including purchases and transfers, once you log in. Additionally, the tool allows you to filter the statement by date, month, or year.
4. Earn rewards and cashback
Many mobile bill payment apps give you a chance to win cashback on your transactions. With digital payments, you can take advantage of a variety of promotional offers ranging from shopping to bill payments to ordering food. When you use your bank's Internet Banking portal to make a payment, you can save money and get a variety of other benefits.
Read Also - Top Apps To Pay Utility Bill Online
5. Saves your time
Many bill payment apps have a super-fast interface facilitating a speedy bill payment. It just takes a few minutes to pay your bills once you've set up electronic bill payment in your online or mobile banking account.
6. Eliminates paper waste
One of the most awesome advantages of doing your bill payments online is it the reduction of paper waste. So, doing paying your bill online, does not just do good to you, but to the environment as well! Paying your bills online eliminates the need for paper checks to be mailed. It not only reduces paper waste, but it also saves money on postage and envelopes.
Many banking and non-banking bill payment applications are available to make the process go as smoothly as possible. Bajaj Finserv is one of these applications. You can now pay your electricity bill, DTH, FASTag, telephone, and other bill payments using the Bajaj Finserv app, in addition to digitally tracking your loans. You can use the app to make online payments using credit and debit cards, UPI, wallets, and net banking.
