Mobile Wallets or e-Wallets have been one of the biggest beneficiaries of the government’s demonetization move, with India suddenly waking up to the convenience they offer. The e-wallet industry is said to be adding over 1 million customers each day after the announcement on November 8.
Paisabazaar.com brings you the biggest advantages that a Mobile Wallet offers today:
- Easy accessibility –Using a mobile wallet for day to day transactions is really simple to begin with. Downloading the app and creating a user ID and password is all you need to do here. It is as simple as logging in to your Gmail or Facebook account from your smart phone.
- Simple to load money– You can add money to your wallet in easily via net banking, credit card or debit card. Being able to store these details saves you from the hassle of entering these details every time you make a transaction and saves time.
- Range of uses– Starting from bill payments for DTH, postpaid, data card and broadband to buying air, bus or train tickets, you can use an e wallet for a variety of transactions. From paying at your local kirana stores to paying for your utilities like gas, water and electricity, the reach of mobile wallets has gone far and wide.
- Split bill facility– Being able to split expenses with friends is another big advantage. Freecharge and Mobikwik users can split their bills simply by entering the amount and the number of people who are expected to pay their share. These wallets will automatically generate a link which you can send to people who owe you money.
- Ensures timely payments– You can also make use of the auto pay facility to make future bill payments automatically, from your wallet balance on a pre-determined date.
- Incentives and Promotions– Each wallet comes with its own set of incentives. E-wallets give plenty of money saving avenues through discounts, cashbacks, offers and free gifts. You can benefit the maximum by going through their offer section and making optimum use of promo codes.
- Quick transfer of funds– Money wallets have made sending and receiving money quick and easy. And on the top of that, currently there are no transaction charges levied for transferring money anywhere, anytime, thus making it a more preferable option.