Major kudos to technological breakthroughs that provide a simple, quick, and fast mode of payment. Using these apps is easy, and they are available in different vernacular languages to make them accessible to all consumers. You need a bank account, smartphone, and internet connection to make online transactions. Like your wallet, these apps are digital wallets through which you can send and receive money. With these digital wallets, you can pay for your mobile recharge, utility bills, bus booking, train booking, fast tag, shopping, etc.
People are still extremely cautious of using their phones to make payments because they assume their information will be undermined, but this is not the case. These apps are designed with stringent security in mind to protect your data. For example, before you make a transaction from your bank wallet app, it undertakes multiple security checks. Besides that, your bank information is encrypted, adding an extra layer of security if your phone gets into the wrong hands.
How do these online payments apps work?
Traditionally to make a payment, you needed the receiver’s bank details like account number, IFSC code, account type, bank name, name of the branch, etc. This process is complex and hectic, but now online payments apps like an easy pay app have made the process much faster, easier, and hassle-free. In the app, add your bank details for once. The app will provide you with a UPI ID, and now you do not need to put all your banking information again and again. With these online payments apps, you can make various payments like shopping, traveling, electricity bills, mobile recharge, fast tag, etc.
You can transfer using the UPI payments app in four ways:
- Using a mobile number
Select a contact, then, send and receive money from anyone on your contact list or any valid mobile number.
- Scanning the QR code
You can also use UPI to send money to any vendor by scanning the QR code, entering the amount, and paying.
- Entering your UPI ID
To pay using UPI ID, enter the receiver’s UPI ID, enter the amount to be transferred, and complete your transaction with a single click.
- Using bank account information
You can also use UPI to make payments using traditional bank details. You can also use the online payments app to make an online bank transfer.
How safe is it to use the UPI payments app?
The main obstacle to adopting payments apps is the questionable security of the apps. But these apps consider the security and safety of their customers as their main priority. They have two-factor authentication to safeguard the transactions. You require a password to open the app, and at the time of making payment, the UPI Bhim app will need you to enter the UPI PIN, which is a four or six-digit number set up by the user himself to protect confidentiality. UPI payment applications like the Bhim app offer additional security features.
The UPI Bhim app has made it possible to transact at any time anywhere in an instant.