Digital Payments- The way forward to go cashless

 With the advancements in technology, today we are saying no to the traditional mode of payments and shifting to Digital payments for quick bill payments. A mode of transaction in which no physical form of money is needed and instead of that, payment is done through digital cards or mobile applications with the help of technology.

The government is aiming to create a digitally empowered economy as a part of the Digital India campaign which promotes to go cashless, paperless, and Faceless. There are several types of digital payments which include UPI Services, internet banking, E-payments, digital and mobile wallets, etc.

So, what do you think about moving to a cashless society? What are their pros and cons?

Let's have a look at that:

Pros:

● It is more convenient

- A digital wallet lets you store your money digitally to a digital wallet or mobile wallet. You no more need to carry cash in your physical wallet. You do not need to go ATM again and again for doing any purchase. Just with your smartphone ease out the process and do quick bill payments.

● Enhanced Security

- Unlike physical wallets, mobile phones have passwords and biometrics to ensure security and it cannot be stolen. Also, there will be low crime rates because of no tangible money to steal.

● Good for Industry

- It is helping in decreasing operational costs and increasing the efficiency of the workforce that in turn is leading to the growth in industries at a faster pace.

● Track your Expenditure

- The mobile applications and digital wallets have a history of transactions that will help in going your budgeting and tracking your expenses.

Cons:

● Dependency

- Everything will only be possible if you will have your smartphones with you. Your stored money in a digital wallet will be useless if your phone battery dies.

● Security and Threats

- Online transaction is prone to many cybercrimes. Hacking, phishing emails can take your data unknowingly and make use of it. 

Everything in this world comes with its merits and demerits. So, Always using it wisely is the option let with us No doubt Digital wallets are great for quick bill payments but they have their own weak points also. Before switching, get to know everything about it and be safe! Visit https://tezzpay.in/ for more information and details. 

3 Prime Benefits of Online Money Transfer Services For Businesses

 In today’s times, most of us live either overseas to earn money or to get our further educational degrees from reputed universities. Globalization has been made possible due to the online money transfer across different continents. Business owners can now easily move large amounts of money between themselves. No one can underestimate the importance of online money transfer. By technology and growth poured into online money transfer services, companies have till now made billions of dollars. We'll give you a brief rundown of the benefits of using these services.

Transfer Validation

Normally, while you're making an offline transaction, you will have to wait for the bank to confirm your transaction or the people will have to pay a bank for getting updates regarding the transaction. However, the digital payment simplifies the system even more efficient as the transaction is completed easily.

Fewer Service Charges

The service charges imposed by banks can be so huge that sometimes they may feel too heavy for a business. If you equate the online money transfer service charges to the nearby bank charges, you can find that online services will charge very fewer service charges.

Online Availability

When you're about to transfer or accept funds from others, you would need to adhere to a strict plan where you plan your payments. By using online money transfer services, you will not experience any difficulty as you can use them 24X7. This is very important for you as you always want to take up these services at your comfort.

No paperwork

Previously sending money used to include a lot of paperwork and documents. But now with the help of online money transfer, you do not need to hustle for any paperwork.

If you are also looking for any online money transfer services for your business, then you can visit Tezz Pay on their website. You can get in touch with them at https://tezzpay.in/ and enjoy a relieved and secure transaction. This will not just be convenient and cost-effective for you but will also benefit you in the long term.