Are Online Payments the New Revolution in India?

Immediately after the demonetization declaration, the nation almost became helpless in terms of hard cash! Banging crowd in the banks and the long queues in front of the ATMs’ became a not so unseen scenario. The decision was undoubtedly a strike on the roots of black money but, it has also made some drastic changes in the routine life of the common people.

The country is shifting its focus towards another medium to make money transactions but without exchanging cash. Here comes the catch, Online transactions! Paying and receiving money online by the various mediums like credit/debit card, net banking and mobile wallets. It is yet a tough time to deal without cash but, the options are not less, managing without the hard cash cannot be considered that challenging when we wish to opt for digital medium of money transfer.

How can online payments contribute in convenience?

• Increased services - The introduction of online payments can contribute in getting the user’s/ customer’s need fulfilled. Basically you are providing the customer your open online portal for 24 hours, your business may grow as the user can access anytime they feel comfortable. They have the ability to pay and receive online.

• Automated messages are effective than paper oriented invoices - Automated messages can be a way more convenient than the invoices which can never be kept secure. The digital medium may provide the customers quicker services and convenience of time to the people handling the business.

• Reduce risk of loss and theft - With everything being documented, the risk of loss or theft is totally eliminated. The transactions are secure and your documents as well.

• Reduced fee of operations - With the online payments, the fee of the operations is reduced and thus benefits in the online sales of your product or services.

• User friendly - The interface is usually smooth and understandable for the users and that is the major benefit in the aspects of saving money & time.

Is there a medium for Healthcare services too?

Yes, of course! Healthcare being one of the most crucial matter amongst all, there are online medical wallets which are basically functional for providing ease in medical related payments. These online healthcare wallets are a mediator between the customer and the vendor providing the services.

One such medical wallet is Care Wallet, exclusively for making the medical payments for the service like medicine order, buying wellness products and booking diagnostic tests. Care Wallet is the easiest way to pay money either for the services or transferring to your friend having a pre-installed Care wallet in his smartphone.

Where are the loop holes? We see the literacy rate in India is 74.4%, the left out people are not even aware of the basic usage of smartphones and other internet related services, there could be a trouble for them in such case.

Concluding the same, the digital money transfer is undoubtedly a revolution which is taking the nation forward towards a cashless and convenience friendly community. Yes, it does carry some of the negative effects for the ill-literates but, is indeed a revolutionary act which inspires everyone to go easy and secure while making payments.

Veraaj is a wrtier in Heycare, an online pharmacy in India offering a wide range of healtcare services with healthcare app in india.