Mobile wallets have become the most convenient way of making transactions with a single tap of your phone. The speed and added layer of security further makes it an increasingly popular payment option worldwide.
A digital wallet runs through an application that stores your payment information and passwords. With this, you are not required to carry cash or credit cards while making a payment because it only takes one tap to complete the transaction.
There are comprehensive uses of an e-wallet, like money storage, merchant payment, recharges, and much more. The article highlights the essential features of an e-wallet and the steps of making payments through these wallets.
How to Make Payments Using Mobile Wallets?
Customers must enter their credit card information, reward card, and coupon details once they have installed a digital wallet on their smart device. For this, you can use any application like the Bajaj Finserv App. For payments, follow these steps:
- Open the Bajaj Finserv App or visit the website. After that, you can log in by entering your customer Id and mobile number.
- Once entered, go to the “bills and payment” section of the home page.
- To pay a bill, choose the one you want. For example, if you’re going to pay the electricity bill, click on “electricity.”
- The next step is to complete all the required fields and proceed with the payment.
- After this, you need to select the bajaj pay wallet for the payment. Make sure you have enough balance in your wallet bajaj, to proceed.
- Authenticate and proceed to payment.
Why Use a Mobile Wallet for Payments?
With a single tap, you may quickly and conveniently authorise payments with an e-wallet and conduct online transactions. Here are the top reasons why you must use a mobile wallet for payments:
Smooth Onboarding
The verification and onboarding process required in mobile wallet setup is very smooth, with minimal drop-offs to ensure customer retention and growth. The onboarding process involves self-registration, which consists of downloading the application, filling in basic details, completing the KYC, setting security, linking cards and adding money.
Contactless Payment
Digital wallet employs a technology known as Near-Field Communication (NFC) and other security measures, such as tokenisation, to create a user-friendly and secure payment experience. To use a digital wallet, you need to enter your debit card details into your digital wallet app.
Data Integrity
The software encrypts your personal information to ensure the security of digital payments, and the app offers all the necessary capabilities to transport data from your smartphone to the retailer. Additionally, a digital wallet has a database that records user information that is later given to the merchant.
Make a Bigger and Better Influence Through Bajaj Finserv!
Bajaj Finserv is India’s leading financial service provider with unique features like Bajaj Pay Wallet and many more. It adds convenience to your daily payments so that you can quickly transfer funds to your family and friends.
With Bajaj Pay Wallet, you can pay for recharges, including mobile prepaid, OTT, FASTag and much more. Further, the app offers easy to use interface for your convenience. For more details, download Bajaj Finserv App or visit their website.
