How to use technology in trying times of demonetization and after.
We have all means to transact using plastic money or technology; yet, we use cash more often than required. Only after the demonetization did we realize that yes, there is real-time technology to sustain our lives. We know it is just a matter of old habits dying hard. But if we dig deeper, we will realize that how money-by-technology or spends-by-technology can make a real difference.
So, How do we do it?
It is really not rocket science. All it offers is convenience and ease of payment. Also, you will be surprised to learn that how tech can benefit us in our day-to-day transactions. It is all about changing times, changing mindsets, and acquiring new habits. We bring to you a few highlights of digitization in trying times of demonetization.
Now we are familiar with many mobile payment apps. It is just a few quick steps to download the app, transfer money using a debit card or credit card in your m-wallet and then arrange money, to transact at convenience. But did you know that your m-wallet can be used at many common PoS. Your day-to-day transactions of grocery shopping, auto rickshaws/taxi, milk booths, parking, street food, can all be done using m-wallets. Use it just like your physical wallet, and experience the difference.
Use it more often. It is a secure gateway, and one can choose to go for the OTP mode (on your mobile). By all means it is 100% secure, and can be used for transferring huge sums of money at convenience. You will require time of at least 24 hrs to add a new account, for the purpose of transferring money. There are more things to do with net banking-for example, you can view your account statement, mini-statement, make utility payments, etc. You can even transfer money to the maid, by using the (maid’s) Jan Dhan account details.
Some of us are still not used to, to make our payments using plastic money. Try it out this time. Most of the merchants/vendors do not charge anything extra using the card. That is really old school, though you may just ask politely if there is indeed a need. For examples, your bank may have joint offers with a petrol pump (service providers and not a service station). In that case, it is very convenient to use your card for purchasing fuel, as it has no extra levy. There are many PoS being added every day to provide convenience to the customers. So, please do inquire.
Debit and Credit cards
EMI options using debit/credit cards
If you are planning to purchase a household item, then you may opt for the zero-interest EMI payout. For example, if you are buying a new TV set, then go for easy EMI’s of a worked-out period. EMIs are available for 6, 9, 12, month’s duration. And yes, there is no monthly interest.
EMI option on debit and credit card
Customized merchant wallets
If you are a movie buff and book tickets on bookmyshow, or use cab services like Ola regularly, then there is customized option for you. These big specialized merchants have an option of personal (exclusive/functional) e-wallets, which you can use to book a ticket on bookmyshow or Ola cab service only. Special offers may also be available as a part of their loyalty program offers.