There was a time if you wanted to update a passbook to know your balance on your account that took ages. For trivial issues, we had to call customer care we had to wait for ages before that call gets connected, if we say to stop payment, they use to ask us back what is a stop payment which was the height of the customer service. For small basic transactions for depositing money in someone’s account, giving money to the vendor, sign loads of cheque to do the client payment. This all is history now.
With the advent of the BHIM app, Google Pay, Phone Pe, Amazon Pay, Chillar app, Dhani app, PayTM, Mobikwik, HDFC PayZapp the banking scene has changed drastically for the good of the people.
Importance Of These Apps
All credit goes to the BHIM app for changing the current banking scenario. Suppose there was a medical emergency you have to take your relative to the hospital they ask for a deposit, you are not carrying so much amount. BHIM app is there for your rescue you can just scan and share the money with that hospital instantly. There is no need to carry cash in your pocket that also such a big amount. The bank is traveling with you in your pocket what more can you expect from this app. Similarly, your want to transfer fees to your younger sibling’s account so that he can pay the fees instantly. Doing business has become efficient now as we do not have to wait for ages to receive the money. Like in earlier cases they use to give a check we have to the bank deposit it, wait for 3 to 4 days to get it clear. Wait if there is some mistake in the name the check might bounce and our waiting period goes for toes also are patience. There are chances of both the person getting penalized for it. With this option in an blink of an eye, money is transferred to the account of that person.
Additional features:
A lot of similar apps have come up in the market and they are loaded with additional features. Anything or service which you want to have that has been included in that app.
Suppose you forget to pay your phone bills, use Amazon Pay to pay your bills. Your mother wants to watch her favorite serial DTH recharge needs to be done. Just use the Amazon Pay app to recharge your DTH account. You can pay credit card, bill, pay your insurance amount, loan amount, pay landline bill, recharge your prepaid phone, also recharge of your FasTag can be done here. book a cylinder, pay your property tax, water bills, and many more. Here if your decision to invest in Gold you can buy it instantly and sell it quickly. The most important thing is that all the services are available round the clock.
Conclusion:
Life has become very easy with the use of technology, our visit to banks has been stopped now. People are using less cash now and digital transactions have grown exponentially.
