The Emergence of Mobile Wallets with Smartpay Options To Ease Digital Transactions

The Emergence of Mobile Wallets with Smartpay Options To Ease Digital Transactions

Smartphones have made our life fast and easier. You don’t need to go to a nearby store to get your mobile phones, DTH, gas, electricity and other connections recharged.

You can also pay for multiple fees related to Government services like PAN Card, Passport and more right from your smartphone. It is now helping people to save their time and efforts as paying for multiple services are an easy thing to do while being on the go.

After India was hit by demonetization 2016, the country has switched to digital transactions in a huge way that before. And smartphones have made it simpler to pay for multiple services and products via the SmartPay options.

2019 is now turning out to be the year of mobile wallets. People are now flashing their smartphones in offline stores to pay digitally via these wallets. Offline retailers are also accepting these payments on a bigger scale, even in tier II and III cities. What’s more, the same mobile wallet is being used for making online payments.

These wallets are attached to the bank account numbers of the customers. When someone makes a transaction, the amount gets deducted from their bank accounts. SmartPay wallet providers are also offering attractive cashback deals on making transactions via the mode.

Yes, from petrol pumps to cafes to leading restaurant chains to your neigbourhood provision stores to online shopping, digital payment looks like the future for India.

According to data released by CISCO, there will be a total of 829 million smartphone users in India, which will be about 60% of the total population. With so many people using smartphones, the use of mobile wallets is increasing as you read this.

As per the data by eMarketer, India had around 73.9 million users relying on mobile wallets for making payments.

What are the advantages of using mobile wallets?

  • Ease of accessibility

The use of a mobile wallet for daily transactions is super easy. All that you need to do is download the app and create your profile or connect with your Facebook or Google account. Once done, you can use it anytime and anywhere wherever you have an active internet connection. In market as well, from small to large vendors prefer the digital transaction. With digital transaction it is easy for payer to money without holding a large amount in their pockets at the time of purchasing.

  • A range of usages

Mobile wallets work like an all-rounder like Kapil Dev and Ravindra Jadeja. Yes, you read that right! From bill payments to DTH, data card to credit card, air ticket to cinema ticket booking to buying digital gold and mutual funds is possible via a mobile wallet. Even bank also decided to lesser down the setup of ATM machines as people feel it easy to transact, credit or debit easily with digital transaction and smart pay options.

  • Amazing cashback and discount offers

Leading mobile wallets such as GooglePay and PayTM provide you with multiple cashback and discounts in every successful digital transaction. They do tie ups with multiple numbers of brand for that and while purchasing for particular product or services, paying for it will allow to grab this facility. Hence, you can enjoy cashback, incentives and freebies.

What are the leading phones that support digital transactions?

Nowadays, from phones under 10000 to more, almost all phones across brands can let you access mobile wallets and digital transactions. The only condition is that you need to be on the faster 4G mobile network of a leading telecom company to enjoy all. Here is a list of phones under 10000 that you can buy to start using digital payments:

Redmi Note 7s

  • 3 GB RAM + 32 GB ROM, expandable up to 256 GB
  • 3 inch FHD+ DotNotch display
  • 48MP + 5MP dual rear camera
  • 13MP front camera
  • Qualcomm Snapdragon 660 AIE processor
  • Splash Proof – protected by P2i
  • Quick Charge 4.0 support
  • 4000mAh battery

Price – Rs.10,000.

Vivo U10

  • 3 GB RAM + 32 GB ROM, expandable up to 256 GB
  • 35 inch FullView display
  • 13MP + 8MP + 2MP AI triple rear camera
  • 8MP front camera
  • Qualcomm Snapdragon 665 AIE processor
  • Triple card slot
  • 5000mAh battery with 18W fast charging

Price – Rs.9,000.

Realme 5

  • 3 GB RAM + 32 GB ROM, expandable up to 256 GB
  • 5 inch HD+ DewDrop display
  • 12MP + 8MP + 2MP + 2MP Quad camera
  • 13MP selfie camera
  • Qualcomm Snapdragon 665 processor
  • Fingerprint sensor
  • 5000mAh battery

Price – Rs.10,000.

However, 10,000 is an amount which could be easily afford but there are most of people required as well as prefer the finance support to buy it. So for them, buying any of these phones under 10000 could be done easily as you can spread the price over a suitable tenor and pay only fixed EMIs only on the Bajaj Finserv EMI Network.

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