Digital Wallets: Everything You Need to Know
When was the last time you carried a physical wallet? In the current digital era, if you have your smartphone, you literally have everything. From all your essential documents to your money, your smartphone has it all. It works as a Digital wallet for you and tends to make every task effortless. Moreover, since the Covid-19 outbreak, people have rapidly adapted to digital technologies.
It’s been around a year now that I hardly use cash for any transaction. Be it paying the electricity bill or my wifi bill, with just a few taps on my device, I’m more than good to go.
What is a Digital Wallet?
Also known as an e-wallet, it is an online service that enables any individual or business to make transactions electronically. One can easily use it by downloading any e-wallet app on a smartphone, following which payments can be made securely, as these apps keep your information and passwords safe.
It is well-known that these digital wallets are convenient to use and much safer than physical wallets. In my personal experience, I’ve been using the Bajaj Finserv app, the best digital wallet app, and it effortlessly solves my purpose for all kinds of transactions.
What are the pros of using a E-Wallet app?
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Safe and Secure
Do you have any resources to recover your lost or stolen cash? Unfortunately, there’s hardly any chance. However, if you have an e-wallet, all you have to do is take care of your mobile. All the info of your e-money is taken care of through an untouchable provider.
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Saves effort and time
Opening your wallet and searching for the cash in it consumes your time, whereas an e-wallet only requires your smartphone. By simply scanning the QR code, you are good to go, as the transaction is processed within seconds.
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Access to rewards
When you use the best digital wallet, like Bajaj Finserv, you get rewards and cashback after almost every transaction. Now, these can be in the form of cashback or points. Moreover, you may also find discount coupons for food, fuel etc.
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Helps the small-time traders
Earlier, people often used to skip small amounts of payment or even postpone them when it came to small-time traders. But with a digital wallet app, you can even pay as low as Re 1.
How to set it up?
As I mentioned, it’s been a while since I’ve been using an e-wallet. Here’s a step-by-step guide on how to set it up –
- Download the Bajaj Finserv app on your smartphone.
- Sign up after entering your personal information
- On the home page, you’ll see the column of ‘Bajaj Pay.’
- Tap on Wallet & Set up your wallet.
- Enjoy smooth transactions
Look around you. Everyone, including you, has an internet-enabled smartphone. This is a sign of adapting to the best digital wallet to make your life easy and effortless. Moreover, please don’t consider this writeup a promotional one as I’m just sharing my personal experience for a better understanding.