Wednesday 19 June 2024

India Turns To Alternative Modes Of Payment Post Demonetisation

3 Modern Innovations Changing Home and Family Life

Recently, India witnessed a flow in the digital payment, backed by various government reforms as well as initiatives after the high-denomination currency notes got discontinued in the early November. People were asked and pushed to adopt using new payment patterns because of shortage of notes in circulation. India has increasingly gone digital post demonetisation.

The use of cash is now being discouraged and what initially was a reform that aimed at tackling all the problems of black money now has turned into an opportunity for the government and its various agencies initiative to take the country towards a digital-transaction environment. Many Banks and other financial service providers have joined in to promote the cashless transactions.

Use of the Unified Payment Interface (UPI), credit and debit cards, mobile/electronic wallets alongside with some other measures were being pushed by both the government as well as private players. This was all part of the move towards a cashless economy.

With extra rates for cashless transactions that were waved off for the payee for a limited time by both banks as well as several digital payment platforms, the government is hoping to encourage more and more of citizens towards digital payment. Digital payment platforms have felled and followed a similar scheme. The big player in this entire situation is Paytm, which has decided to slash its user fees until end of 2016. MobiKwik is also another digital payment platform that is growing in size.

Rise of Mobile Wallets

These platforms are basically used to pay for online mobile recharge and utility bills. These are too expanding to petrol pumps, toll plazas, and various other places. It has become a viable alternative to cash for smart phone users that have a stable internet connection.

How does Online Mobile Recharge Benefits One?

The advantages of having online mobile recharge system is that prepaid recharges can be done easily anywhere in the world. The online recharge system does not only limit itself to mobile recharges, but it also includes data card recharge, mobile bill payments, DTH recharges, landline bill payments and electricity bill payments.

Online all recharge By Single Sim is very easy and simple to do through various websites. Mostly all the websites provide you with recharge of all the network companies like Aircel, Airtel, Vodafone, Idea, BSNL, etc. All one has to do is just enter on the relevant page and fill the recharge amount and with the required items and then press submit. As the amount is submitted, the mode of payment will be the next option and according to the choice of ther customer, they can use any of the online card bank service like credit cards or debit cards or even online bank transfer. These are the few simple steps that one has to follow for online all recharge by single sim through various service portal sites.

One such online mobile recharge portal is Sara recharge, a Single SIM Multi Recharge Distributor which provides you the comfort of getting recharge done at any time by having a smart phone at your finger tips. It provides you with 24×7 services.