Mo­bile Wal­let It lets you go cash­less

Consumer Voice - - Bfsi Guide -

Imag­ine a sce­nario where you have no ac­cess to banks and all fi­nan­cial trans­ac­tions hap­pen only with cash. You pay in cash and get paid in cash. And if you have to pay or col­lect a pay­ment from some­one far away, you have no op­tion but to travel. With such en­cum­brances, you will also be in­vent­ing safe ways to store your money. That in­vis­i­ble pocket in the trousers, a tif­fin box buried deep in­side the rice-stor­age drum, or a jar on the top­most shelf in the kitchen… Imag­ine. It is chal­leng­ing, and risky too. In such a sce­nario, the in­tro­duc­tion and adop­tion of this thing called mo­bile wal­let can make all the dif­fer­ence, since it makes it con­ve­nient for a per­son to make cash­less trans­ac­tions. Of course, one does not need ex­treme sit­u­a­tions like the one just men­tioned to find util­ity in the mo­bile wal­let – the sheer con­ve­nience of it will let it sell it­self. Read on to un­der­stand the con­cept and its util­ity bet­ter. This ar­ti­cle also at­tempts to clar­ify any haziness around mo­bile wal­lets and as­so­ci­ated ap­pre­hen­sions.

The mo­bile wal­let is an online plat­form that al­lows a user to keep money in it, just like a bank ac­count. One may see it as the dig­i­tal equiv­a­lent to the phys­i­cal wal­let in which we carry money. You can use your credit or debit card or Net bank­ing to let the wal­let hold your money in es­crow, from where you can make pay­ments to dif­fer­ent ser­vices. Those who don’t have a credit card or a debit card can go to their near­est wal­let recharge kiosk and get their wal­lets loaded against cash.

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