What are the alternatives to cash payments?

Moving on from cash payments may not seem easy, but once you realise how convenient it is, there's no turning back

Some of the biggest names include Paytm, MobiKwik and Freecharge.

Add money instantly to these wallets online and get additional benefits such as cash backs and discounts.

Most banks provide a debit or credit card when opening a bank account.

These cards can be used at ATMs or on Point of Sale devices at various outlets, and offer attractive rewards such as bonus points.

Net banking credentials and a unique PIN are required to access these services.

Banking apps and mobile banking allow users to carry out various transactions like check balance, pay bills, transfer money etc.

Users can send and receive money immediately through their phones using just a mobile number and a virtual payments address.

Bank account details are not required for these transactions. BHIM, Tez, PhonePe and Paytm are some popular UPI payment options.

Users can access all banking facilities on the go through the internet. However, they have to activate the net banking feature for their account first to make transactions.

Money transfers, checking statements, adding and managing beneficiaries and more can be carried out without visiting the bank.