The traditional way of bill payment required a lot of effort. The consumer needed to physically visit for bill payment and spent a lot of time in queues. Some people used to delay the bill settlement because of the fear of standing in long lines, although today, things have changed due to technology. The invention of smartphones has led to the most significant milestone in modernization. It made many daily-complex tasks convenient, and another other invention that contributed to this development is UPI apps. It has contributed widely to evolving the nation as a cashless economy. According to a source, UPI payment apps in October 2021 recorded a transaction of 4 billion worth Rs 7.71 trillion.
UPI has shown immense growth within a short period and is preferred by a large population. All local vendors to high-five businesses started adapting to this new payment method. This way of payment benefits not only businesses but also consumers. Users can do instant transactions from around the world with a click. It is the main reason for switching to UPI apps for postpaid bill payments. Stay with us to know more about the shift from offline postpaid bill payments to UPI apps.
What Are the Consequences of Postpaid Bills Offline?
- Not Convenient-Customers need to visit the office directly for offline bill payme They may have to wait for hours in the queue. Above all that, they have to carry money in cash. Which creates the risk of theft.
- Limited –Consumers didn’t have many options for payment. They have to carry either money or a debit/credit card.
- Slow Process – The transaction is carried out manually. People need to wait in queues for paper bills. Hence a customer has to spend an entire day behind it. It is also a reason for late bill payments. It may even cause the consumer penalty if he forgets to settle the bill on time.
Advantages of UPI Apps
The limitations of the offline payment method are resolved via UPI. Here are a few advantages of UPI which make it widely popular.
Cashless Economy – UPI allows customers to transfer money directly from their account to the merchant’s account with a single click. For example, suppose the customer wishes to make a Vodafone bill payment via the BHIM UPI app using the payment option. In that case, the user can transfer money to the merchant’s account, which will be deducted directly from the user’s bank account. In this way, the burden of carrying physical cash is lowered. The UPI app replaces the conventional-cash based payment collection with online payment. Hence, this makes the payment simple and contributes to the nation’s growth.
- Makes online payment simple – UPI apps are more convenient than other online payment options. In the case of UPI, the user’s bank account is linked to UPI apps. Hence, customers need not enter account details every time to make a transaction. Even paying the merchant’s account user doesn’t require their account info. They can quickly settle the postpaid bill by scan and pay option. Digital payment also makes the service provider’s work simple and manageable.
- Security – Many people are afraid to use UPI apps due to safety concerns. However, UPI pays special attention to safety measures while making online transactions. UPI has initialized 2-factor authentication and end-to-end encryption, which makes online payment safe and secure. It allows the customer to do postpaid bills freely without fear of hacking. However, it is also the user’s responsibility to follow specific safety guidelines.
- No more delay in settlement – With the help of reminders, customers can avoid the risk of late payment. For example, users can schedule reminders one week earlier in the BHIM UPI app. Thus, it helps the customer to pay the postpaid bill on time at their convenience without waiting in long queues.
- Bonus – Users can expect cash-back offers and rewards every time they make the transaction. However, the reward may differ depending on the user’s UPI app. It also gives the customer opportunity to put money back into their pocket.
Another Payment Option
Similar to UPI apps, MobiKwik is another payment option that is as flexible as UPI apps. It is a growing payment platform that allows customers to pay all their bills with zero transaction fees. Users can use MobiKwik either as a web version or as an app version. On top of it provides add-ons like cash-back, super cash, and discounts in every transaction. Users can pay the bill across various operators. For example, users can make Vodafone bill payment or Airtel on the same platform.
The flexibility and simplicity offered by UPI apps are the reason for grabbing more attraction. However, it is always the customer’s decision to choose what means best for them.