Use eWallets to make convenient payment transactions
There are millions of people that do not have a financial account like that of a bank account. They are out of the loop of financial inclusion and are unable to use banking institutions to save, take out loans, and to use for other money matters such as opening up a savings account. The advance payment solution of eWallets have usually less stringent requirements for opening up accounts like only needing a one valid ID. For unverified accounts, to use this financial service, all that is required is a mobile number.
There are a lot of mobile payment options out there for you to choose from. However, one of the most convenient ones there are online may be that of eWallets. This is because with the help of a single app, you can make a payment transaction for nearly everything under the sun without even having to pull out your credit or debit card or even bring some cash around.
A mobile wallet
eWallets are secure payment systems that enable your mobile to literally act as your wallet. You can use this to pay for gas, your bill at restaurants, and even your online shopping. Also, the use of these online payment apps aren’t anything to cause you concern especially when it comes to security. This is because of all the safety features that come along with them. There are security measures such as two-step verifications or even fingerprint logins that safeguard your eWallet from being hacked into on the unlikely event that your phone gets stolen. As long as you keep your app updated, then these features will continue to keep your money safe.
Another great feature about eWallets is that it’s a one stop shop when it comes to bills payments. You can pay for all your utility bills and even your monthly loans right through your online payment app. You can even opt to use a recurring payment option. That way, you will be able to pay for what you need on-time without having to do it manually every time the due date comes rolling in.
When you have an eWallet, you get to pay with ease, online or offline. If the retail store accepts that same payment method, you may scan the QR code to initiate the payment transaction. When the scanning is done, the amount is indicated, then the payment can be sent. In less than a few minutes, the transaction is completed using a contactless payment terminal. For online payments, there is a virtual payment terminal for the consumer to be able to checkout. The payment processing is quick and the amount indicated is debited from the eWallet almost immediately.
With the payment infrastructure
Turning your mobile phone into an eWallet means that in an area that has the payment infrastructure, you can go out without bringing cash. eWallets provide you with swift and accurate payment transactions, reducing the known risk of carrying cash. This advanced payment solution is not just handy but a highly-efficient payment method that even gets to keep record of transactions.