A Step-By-Step Guide to Online Bill Payment and How To Avoid Common Mistakes

When was the last time you visited your nearby market in person to recharge your smartphone or deposit your electricity bill? It’s been quite a long time, right? In the current digital era, we depend on our internet-enabled smartphones for almost everything. One right application can make your life super easy. The first time I made an online electricity bill payment, I was happy because now I could use the same time I spent visiting the official site to pay the bill elsewhere.

Digital technologies have been adopted by humans to make life easier and more convenient. It’s not only about bill payments, but many other factors and conveniences fall under the umbrella of digitalisation.

What is an online bill payment?

As the term implies, it is basically a service offered by banks/financial institutions that allows individuals and businesses to pay bills or services online. When adopted, it eliminates the need for the use of paper, as such payments are made mostly via a website or a mobile application.

Due to the accessibility that smartphones offer, most of the payments these days are done via applications only. However, once the accounts are linked with the app, one can easily make payments, track payment history, and receive payment alerts and reminders. Also, digital payments are often secure and much faster than traditional payment methods.

What are its advantages?

● Convenient

Digital payments come with convenience as one can initiate payments from wherever and whenever. Moreover, one doesn’t need to visit any financial institution and just needs an internet-enabled smartphone with the right application.

● Affordable

An online payment is very cost-effective. One doesn’t need to spend money for in-person visits to the recharge centres. This saves a lot of fuel, ultimately saving money. Moreover, when you pay via applications, there are no fees for using their services.

● Instant processing

Did your parents ever believe that online electricity bill payment can be cleared within seconds? With online payments, the dues are cleared within a blink of an eye with just a few taps on your smartphone. Digital payments don’t let individuals to wait for days for a check!

How to make online payments?

It’s been around one year now that I rely entirely on digital payments. After using several applications, I finally used only one app, i.e. Bajaj Finserv. Believe me, I’m not promoting any application, but this app is one of the best applications you can use. You just have to sign up by using your mobile number.

Further, not only mobile recharges and bill payments; this app has a lot to offer. Apart from recharges, you can also make investments here or even opt for a home loan.

How to avoid common mistakes while making an online bill payment?

● Network connection

Avoid using public wifi networks as they are not secure. Using them for digital payments might put your information at risk. So, it is always beneficial to use a mobile data connection or secure wifi network.

● Phishing Scams

You may receive emails or text messages that appear to be from your bank/financial institutions. Avoid clicking on such links or entering any information in response to them.

● Passwords

Always use unique and strong passwords for your online accounts. Using a similar password for multiple accounts is not a good idea.

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