March 15, 2017

Intro on Digital Payments

Digital Cashless INDIA !!!

The Digital India program is a flagship program of the Government of India with a vision to transform India into a digitally empowered society and knowledge economy. “Faceless, Paperless, Cashless” is one of professed role of Digital India.

There are various methods available for digital banking. Here, I have listed only powerful and efficient method for it.
(1) UPI
(2) Internet Banking
(3) Mobile Banking
(4) AEPS - Aadhar Enabled Payment System
(5) POS - Point of Sale & Micro ATMs
(6) Moblie Wallets

Now, We will go through brief introduction of above all.

(1)UPI - Unified Payment Interface.


This service is launched by Government of India , recently and nowadays most popular also.

UPI is a system that powers multiple bank accounts into a single mobile application (of any participating bank), merging several banking features, seamless fund transferring & merchant payments into one single app. Each Bank provides its own UPI App for Android, Windows and iOS mobile platform(s).

Recently, There are so many apps in Market i.e PhonePe, BHIM, Chillr, Axis Pay UPI, Cent and many more...

I have no bios on any bank or its app , but according to my experience,observation and research,

If you new to this then BHIM is the best and if you want go advance in this then PhonePe is good choice. Please click on below links.

How to use BHIM ? 

How to use PhonePe ?

The service of UPI is faster than any and it is ideal for routine functions of banking.


(2) Internet Banking


Internet Banking is a feature that brings bank into your Desktop or Laptop. Internet Banking provides all functions like fund transfer, nomination, payments, fixed deposit, demat account, etc. which one can do by going to bank.

Internet Banking is for advanced users and it is complex than all other ways. A great care must be taken while doing this.

So. I recommend you to kindly contact your bank.


(3) Mobile Banking


We can say Mobile Banking is a younger brother of Internet Banking. Mobile Banking is an app based banking which brings bank to your Smartphone or tablet.

You can do most of banking activities by mobile banking.

If you are new to digital era, then using mobile banking is little bit tough for you.

So, I suggest you to contact your bank or your family member who has knowledge of  mobile banking.

(4) AEPS - Aadhar Enabled Payment System


Government of India is rolling out this system. Through this system, People of India who don't have smartphone or internet will be able to use thier Aadhar card and fingerprint to make payments.

Now , this system is on its primary stage. So, I don't have much info on it.


(5) POS - Point of Sale & Micro ATMs


This system is used for payment to merchants. This can be done by Banking Cards like Debit, Credit, etc.

We can make paymetns by using 4-digit ATM pin or OTP pin from your registered mobile number. It does not require Internet or Smartphone.

(6) Moblie Wallets


Nowadays, Mobile Wallets are booming the market. Mobile Wallet is an utility app that is used to recharge DTH, mobile, pay bills, and many more.

PayTM, Freecharge, MobiKwik, Citrus, JIO Money, PayZapp and many more are very popular wallets.
Some of UPI apps also provides wallet facility like PhonePe, Chillr.


I hope this blog will help you in understanding basics of Digital Banking.

Please go through this Link :

How to use UPI vai PhonePe ?

How to use BHIM ?

Click here to see all the methods.

Comment below if any question.

Please Like and Share. Thank you.

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