How to accept digital payments during coronavirus outbreak?

Stick with us to know how to accept digital payments during coronavirus outbreak and its importance during pandemic!

digital payments

Accepting digital payments during coronavirus outbreak going to play a very important role, the Reserve Bank of India (RBI) has currently asked consumers to use digital banking facilities as far as feasible in order to ensure the safety of civilians. According to reports, in daily routine handling physical cash can be the biggest cause of concern owing to the risk of an epidemic. It is believed that the virus can stay on different surfaces in its fully active state for a number of days.

Also, the World Health Organization (WHO) in a statement said that it's "advisable to use online payment options to reduce the risk of infection.”

What is a digital payment?

Digital Payment can also be termed as cashless or contactless payment. It is all about making the transactions for purchasing the goods and accepting payments online i.e. through the electronic medium. Some examples of online payments are NEFT/IMPS transfer via an app or any bank’s website (SBI, Federal, etc ), Paytm transaction, Other payment gateways like Gpay app, Payzap, Phonepe, Freecharge and so on.

Why digital payment is better than cash?

As per the expert's suggestion, digital payment should be applied as a careful measure to avoid the transmission of this deadly virus.

Under these situations when folks are still coming to terms with social distancing to prevent community transmission of deadly COVID-19, digital payments technologies of tap-and-go payments are the way forward to conduct businesses without exchanging currency that may have been touched by various affected civilians, they say.

As indicated by Rajesh Mirjankar, overseeing executive and CEO, InfrasoftTech, "In contactless installments, the utilization of tap and pay, NFC, QR codes and so forth., guarantee that payees don't must have contact with some other gadgets other than their own (NFC empowered) cards or their cell phones utilizing QR codes. Computerized installment modes, for example, UPI to guarantees frictionless online ongoing installments. "
These will ensure bank customers maintain social distancing, which is the need of the hour to stop the spread of the coronavirus.

How do digital payments work?

The most ideal approach to do the tap-and-go (contactless) payment is by utilizing cell phone applications like Google pay, PhonePe, Paytm or diverse bank applications," says Mandar Agashe, MD and author of Sarvatra Technologies, a monetary mechanical organization.

While shopping at a store use - QR code. If you don’t have that option, you can use ‘tap and go’ also termed as a contactless card, which is now available in almost all the debit cards. The advantage of touch and pay would be that you don't have to punch in a PIN in the retail location machine, and installments up to Rs 5,000 can occur without a PIN.

You could likewise utilize different methods of payments like IMPS, RTGS, and net-banking to encourage other enormous exchanges.

Discussing different measures to forestall the spread of Coronavirus through money notes, Agashe recommended that physical money ought to be sanitized before giving to clients.

Also Read: How is the financial sector affected by a coronavirus

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