Long gone are the days when cash was considered the king in this economy. Now, the time is all about digital! Especially after the COVID-19 outbreak, digital payments have witnessed a significant upsurge in India, pushing cash backwards with time.
This shift is quite evident when it comes to bill payments, such as online electricity bill payment or mobile bill payment. It is pertinent to mention that mobile applications have completely transformed the way people manage their finances. These platforms tend to offer convenience and security, as well as features that go beyond simply paying regular bills.
Today, let’s dive deep into online bill payments, their advantages, and the top three innovative platforms that are revolutionizing them in our country.
What are online bill payments? Why is it more trending than the traditional methods?
It refers to the process of settling bills through digital platforms rather than traditional methods like cash. This typically involves using a computer or smartphone in order to access a secure website or application provided by a financial institution.
Long gone are the days when people used to worry about carrying, their wallets every single time. Nowadays, It is all about a smartphone in your pocket!
- Easy Accessible
Online payments offer easy access and convenience. One can quickly settle bills anytime and literally from anywhere, as long as they have an internet connection and a device capable of accessing the payment platform. Especially when it comes to mobile bill payments like airtel bill payment, accessibility plays a major role.
- Enhanced Safety and Security
Online applications often have advanced security features, such as encryption and authentication protocols, to protect users’ sensitive financial data. Moreover, there are certain other ways like two-factor authentication to prevent unauthorized access.
- Cost-Efficient
When you go digital, firstly, you cut down all the physical visits to centers. This reduces the administrative burden on both consumers and businesses. Furthermore, online payments typically clear faster than traditional methods, allowing individuals to send/receive funds much more quickly.
3 Innovative Apps Revolutionizing Online Bill Payment
- Bajaj Finserv
It is one of the leading applications in the current times! It’s been around two years that I’ve been using this application, and from my property tax online payment to even other types of bills, I totally rely on this application. Moreover, the user interface is quite easy and easy to use. The application is available on the Play Store (Android) and App Store (iPhone). Highly recommended!
- Freecharge
This is another application that allows users to recharge their utility bills and more. It offers discounts and cashback rewards for transactions and is more appealing than traditional payment methods.
- Amazon Pay
It is another major player in bill payment in India and is backed by e-commerce giant Amazon. One can easily link an Amazon account with Amazon Pay and pay a variety of bills. For users who regularly shop on Amazon, it offers a convenient way to manage payments.
Conclusion
All in all, there is no doubt in the fact that the online bill payment landscape in India is flourishing with innovative applications. Be it your online electricity bill payment or any other kind of bill, people have literally forgotten the traditional methods. One of the most reliable applications is undoubtedly ‘Bajaj Finserv’, and tons of people in our country rely on it.