The Indian economy is heading towards a cashless economy. The government efforts are clearly evident from the steps, like demonetization, taken for the purpose. Now, it’s people’s efforts that will ultimately count. There are numerous ways to send money online. These online payment methods are recognized internationally. When you utilize one of the ways to send money online, you are bound to receive plenty of benefits.
First of all, you save your time by transacting online. You don’t need to stand in the queue at the ATM’s. Secondly, you are doing a valid transaction as every transaction is recorded. Thirdly, you can save money by receiving cashback offers and lucrative discounts. Let us explore different ways to send money online.
Online Transfer Methods – RTGS, NEFT, and IMPS
Cheque and Demand Drafts are becoming obsolete methods of payment. Online transfer methods are gradually replacing them. When a user has an option of paying the amount from the comfort of his home, why would he adopt cumbersome methods? NEFT and RTGS transfer form one of the most suitable ways to send money online. Both of these methods are comparatively faster and reliable.
Apart of these, IMPS is also a feasible option for small transactions. The money is credited to the credit account. You just need the account details such as account number, account holder’s name, and IFSC code. Surely, IMPS method can be counted among the ways to send money online.
Credit and Debit Cards
People often associate debit cards for withdrawing amount from the ATM’s. But due to awareness initiatives, debit cards are being used to make online payment payments and POS payments. Instead of carrying cash, users prefer carrying debit cards. Most of the merchants have the provision of accepting all major debit cards.
Credit cards provide convenience to the users because they don’t need to worry about the amount they have in their account. Moreover, most of the merchants and e-commerce sites provide EMI options on credit cards. Banks are willing to provide lucrative credit facilities to their clients. With so many benefits, users should consider credit card payment as one of the most convenient ways to send money online.
E-Wallets and Mobile Wallets
To simplify various ways to send money online, e-wallets have evolved as the most convenient option for both the merchants and the customers. Whether it’s a flight ticket or the grocery bill, you can pay the amount with just a few clicks. Once you have credited your e-wallet with money, you are free to shop anything, anywhere in this world. E-wallets are peculiar to a particular merchant or organization.
Mobile wallets are similar to e-wallets. The only difference is that they can be used for payments at various outlets, both online and offline, allowing transactions from international borders to India. Some of the most renowned e-wallets are Android Pay, Apple Pay, PayPal, etc.
Like e-wallets, gift cards are also peculiar to particular merchants and e-commerce sites. They have a fixed amount associated with them. The users can buy these cards for shopping purposes. Every time you shop at a particular store, utilize the power of your gift cards. Moreover, these can be used for gifting purposes as well. This is the reason they are called gift cards. No doubt, these can be counted among the best ways to send money online.
Various banks have come up with their unique applications known as UPI (Unified Payment Interface) apps. This is an excellent payment mode and therefore, it deserves to be counted among the best ways to send money online. The banks offer these services to their clients. But, the clients can use this UPI platform to make payments from different accounts. These accounts can be associated with different banks. The crux of the statement is that the UPI app acts as a medium for payments from different bank accounts.
Remittance Companies, Money Transfer Operators
Money Transfer Operators are organization with ground locations or online presence that specializes in sending money for clients from one location to another, even between countries. This service is ideal if you need to send money internationally on an urgent basis. They usually offer these services both online and at street locations through various branches around the world. Transferring money abroad with these services can be performed both online and offline. Countries like US, UK, Russia and Australia are widely using remittance companies for international money transfers. These services are very fast, efficient and reliable. Like if you want to transfer money to India from any foreign country, like Australia, then this can be one of the cheapest option to do that, making your money transfer experience more hassle free.
Your quest for the easiest ways to send money online ends here. You can utilize any of these online payment methods to simplify money transfer experience. Stop worrying about the security of cash in your wallet. Adopt any of these ways to send money online for faster and secure payments from overseas to India.