Digital Payments in India 2017 -18 is like a boom for e-transaction but there are so many people who don’t know that what that is and how it works. Here on this single page you can get the details regarding about Digital Payments in India 2017 with some additional useful info such Definition, Types, Apps Companies comparison and so much. Read this page carefully and learn the process of e-transaction in an easier form with lots of important data and broadcast about Digital Payments in India 2017.
Brief Definition of Digital Payments in India 2017
Digital Payments is a simple and safe path to transfer the money via online mode. In this system you can receive and send money as well as. In Digital Payments, through this facility you have no need to carry hard cash for anything. Digital Payments in India 2017 become the India, more transparent to money transaction and its helps to reduce corruption and Stripping the black money in the Indian financial system. This will be very useful to fill the gaps between poor and rich people. You can say that these Digital Payments in India 2017 begin a revolution in point of view of financially gloat.
There are so many uses and welfare of using the Digital Payments. Digital Payments saves your precious time in ATM, and Banks’ long tail lines. You can transfer money and operate all financial activities from home. There are so many Types of Digital Payments in India. There are so many benefits that you can get through digital transaction such Easy and convenient, Pay or send money from anywhere, Discounts from taxes, Written record and Less Risk. We are presented the details and feature of all these types of Digital Payments are given below. You can receive & transfer money through this App after paying UPI Transaction Charges. All Indian banks like SBI, ICICI, HDFC, Axis Bank & Others Banks take some UPI Charges for transaction. Now you no need to issue Bank Challan Form in 2017. You can run your business through digital Payment and get the benefits that government provided for using the digital transaction.
UPI or unified payment interface is a gateway between bank and its account holders. By using this App you can transfers the money through your Smartphone. At present, this app is available only for android phones. If you want to use this app then you must have net-banking facility on your phone. Now a days , there are so many UPI Apps for money transfer apps are available for android that are BHIM, SBI UPI app, HDFC UPI app, iMobile, PhonePe app etc. to use this application you must install this app to your android phone and create a VPA ID.
Aadhar Enabled Payment Service (AEPS) is a Aadhar based digital payment facility. To use this App candidate must have only your Aadhar number and this app allows to bank to bank transaction, i.e. money will be deducted from your account to payee’s account automatically.
USSD is a digital payment mode which is based on mobile banking. To use this digital facility, you have no need of a Smart phone. The transaction through this app is just like that you are checking you mobile balance. But the transaction limit in this facility is Rs. 5000 per day and RBI take charge of Rs. 2.5 for per operation.
Money transaction card is provided by the bank to their holders that are use in various kinds of financial activities. There are so many cards that you can get by your bank according to your demand such Credit cards, Debit cards, prepaid cards, E-Wallets and Rupay debit card. These all types of cards are very beneficial for any E-commerce sites. You can pay the processing charge to use these cards as 0.75% – 2.0%. You can’t pay through these cards if the payee doesn’t have PoS (swipe) machine.