The world is moving ahead at an unprecedented pace. Advances in technology happen just as fast. While many hop onto these advances, there are many who prefer the traditional way. Now that most of the things are digital, so are banks and most of the services they offer. In times like these where minimal to no human contact is to be kept, a digital banking app sure does come in handy. If you are only getting reasons not to use a digital banking app then give us a chance to show you some reasons why you must use these apps.
Digital banking apps are used to transfer money that supports secure and instant cashless transactions. In addition to money transfer, such apps also allow you to make EMI payments, buy mobile top-ups, and pay online for gas, electricity and DTH bills. These features are especially useful in times like these, you don’t even need to step out of your house to pay your gas and electricity bills. On top of that, many small businesses have started accepting UPI money transfers instead of cash. Nowadays even auto drivers keep UPI QR codes for customers to make payment. With everybody adapting to the cashless culture, not having a UPI account at hand may become problematic in times of need.
There are multiple investment options available in digital banking apps. You can invest in a mutual fund. Most of the banks that have a digital banking app are fund houses to a few mutual funds. On top of that, some digital bank apps also offer the option of buying and investing in gold. Investing your money rather than just keeping it in the bank account is always a better option. These apps even offer various types of discounts and cashback which eventually results in you saving your money.
A virtual bank account allows you to make cashless money transfers to any bank account using the virtual payment addresses associated with bank accounts. You can scan, request or transfer the money from a UPI app by entering the UPI ID and password associated with it.
Using a UPI payment app is very useful. Not only does it meet all your payment requirements but it also provides safety and security to some extent. The app also has the ability to make instant bank transfers by simply using your mobile number and unique payment identity.