COVID-19 pandemic has led to a surge in the adoption of digital payments in India. More and more people are into smartphones using an online payment method to purchase goods or services and pay utility and credit card bills. The country is moving towards a digital economy with more people shifting to Internet banking.
According to a survey carried out in 2020, about 80 percent of people in India used digital payments to pay off someone or their bills. With a banking app, you can carry out simple transactions, like transferring funds, receiving notifications, checking account balances, and viewing account statements. It also helps you make quick payments through the UPI money transfer anytime. The other option is through net banking using various digital payment methods.
IDFC FIRST Bank helps you use different digital payment methods on its mobile banking app.
- Paying through debit or credit cards
When it comes to ebanking, cards are one of the commonly used payment methods accepted online. IDFC FIRST Bank offers both debit cards and credit cards to customers. These cards come with amazing offers, discounts, and premium features. Depending on your requirement, you can apply for:
Debit Cards like FIRST Private, FIRST Wealth, and FIRST Select and Visa or RuPay Signature, Platinum, and Classic.
Credit Cards like FIRST Millennia, FIRST Classic, FIRST Select, and FIRST Wealth
You can pay using any debit or credit card. With a credit card, you can utilize the credit limit for 40 or 45 days and pay after that either in full or a certain percentage of the due amount. The mobile app allows you to store the card information to make cashless payments.
- Paying via UPI
A real-time payment system, Unified Payments Interface or UPI helps you pay or transfer funds to someone. IDFC FIRST Bank mobile banking enables you to make and accept payments through a UPI app. You can use the app to send reminders and schedule payments. The UPI money transfer requires you to have a bank account.
- Making payments through net banking
The other option for making a digital payment is through NEFT, IMPS, or RTGS. You need to complete the net registration process to use NEFT, RTGS, or IMPS and make instant payments or transfer of funds by adding a beneficiary. The mobile app from IDFC FIRST Bank permits you to manage your bill payments by scheduling them before the due dates.
- Use ‘Pay to Contact’
You can pay or transfer funds to anyone in your contacts using the IDFC FIRST Bank UPI app. All you need to do is to log into the Mobile Banking App and click on UPI Payments. Then, choose ‘Pay to Contact’ and enter the payee’s mobile number. After that, select the UPI ID, enter the amount, and click the ‘Submit’ button. It will ask you to type in the 4-digit PIN. Once you have entered and submitted it, the UPI money transfer is successful.
Today more and more people are using digital payments, and if you looking for a reliable app to transfer funds or make payments, download the IDFC FIRST Bank mobile banking app now.