My Experience of Making online Payments during Travel

Making payments through digital mode is not just convenient but also a better option and best of all I do not need to carry any cash. I also need not visit the ATM and withdraw some money for such expenses because all I can do is use my mobile phone to make the payment in a few seconds. I have been using these payment wallets for quite some time and I like using them. I hardly visit ATMs to withdraw cash because that seems an inconvenient task for me.

I did travel to Rajasthan this Sunday and this is the shop where I stopped for a short break on the way near a fuel station. I had along with some snacks. This small shop is run by an uncle and he also hatPaytmytm wallet. For those who do not know what Paytm is I would like to mention here that it is a wallet. This wallet can be accessed through phone and we can make the payment using the bank account through UPI. We also have the option to talk about the balance in the wallet and can make the payment just by scanning the QR. This type of your you can't find easily every shop. I prefer to stop at a fuel station where I get some shops around so that I can buy some stuff while getting my car refuelled. There was a time when I used to run towards the ATM before travelling to any place because cash was the major requirement and I always tried to have enough of it and about 20% extra from my budget whatever I planned for. Now this situation has gone another way around and I hardly carry any cash in my wallet because I carry my cards and the phone which is loaded with a couple of wallet applications primarily Paytm.

The Paytm wallet is also connected with my fast tag so I do not need to manage cash for toll payment. This is a very small shop and you get very limited things in this shop but I think this is good enough for me which I can buy so I bought some snacks and a few drinks which I can consume on the way. made the payment using my Paytm wallet by scanning the QR as you can see in the photo. Its a digital era where things can be done using smartphones and technology and undoubtedly the fintech companies have done fantastic hello work to enable this infrastructure. banks are a traditional form of institutions that are not so good on the innovation side. in India the wallet culture was started by Finter companies and later on

Although I use a couple of wallets Paytm is my preferred wallet for various reasons. First, the accessibility is great for this wallet and they have got a bigger presence across the country. I have travelled to multiple states in India and everywhere I get at least a Paytm wallet to make digital payments. Secondly, it is integrated with my fast tag in the car. Fasttag is a way to make auto payments for tools in India and no need to pay cash. This tag is scanned by the scanner at toll and money is deducted automatically which saves time. Below I have shared the photo of the fastag. This is integrated with Paytm and I don't need to recharge it deducts money from my wallet and I just need to maintain my balance in my wallet. this is my use as Paytm has also provided me a limit that I can use and it is very helpful because in that case I do not need to keep the money involved and credit helps to process all the transactions. I can pay back the outstanding in a month without any extra charge which is a good feature and I use it quite often. these are some of the reasons why I prefer to use Paytm more than any other wallet it makes life easy in different places and this is why I think that technology is making things easy and we should adopt it on time.

India is doing great in digital segments where the payments are automated or revolutionised through different forms of Technology. it's not just individuals but businesses that are also impacted positively because such small shops can accept online payment without any complicated setup of cards or anything. They just need to keep this Q R at the shop and this is enough for them to get the money in their bank account. the process is super easy for the merchants as well as for the users and of course safe because there is no risk of losing the money since everything is managed by the technology. It also saves time for users as no need to deal with cash and visiting ATMs for the same so logistic expenses are also reduced for the fiat currency management and technically the manual intervention of the bank is also reduced.

Now even if you visit any tier 2 or tier 3 city OR even rural area, you are going to get these payment options so if you have a wallet with you then it is enough for you to pay for goods and services with ease. UPI is the payment option that has done pretty well and it is also improving more because different versions of UPI have also been launched recently. I'm not sure how things work in different countries in terms of wallets but in India, it is making life easy and I hope this will improve even more in the coming years.

Thank you

Posted Using LeoFinance Alpha