There was a time when the metal strips on the credit cards used to be the most futuristic technology people had seen in terms of convenient payment methods. But the strips wore out, and the cards snapped in half to give way for the much more futuristic and revolutionary, the online payment wallet.
Why would one go through the trouble of entering that sixteen‐digit number when they can easily transfer the money to their e‐wallet by one click and use it to make the payment by another.
Here are few ways the e‐wallet payment is bound to benefit the e‐commerce giants:
1. Convenience: this is obviously the first point that comes to mind when you think about the e-wallet.
There were days when we had to look for an ATM in order to get some cash in hand, then came the days when carrying a credit card could do all the work, and today all you need is a smartphone with an internet connection. Moreover, the purchase platform has also been increasingly shifting to the online giants since the e‐wallet payment has surfaced. This makes people trust these online transactions much more than they used to, a decade ago.
2. The usage of mobile apps has reached new heights: from flip-kart to itzcash, every website has a mobile app today which makes it much more convenient for the consumers to access their websites and make the purchase. But the real usage of these apps only started with the advent of online payment wallets. Previously, every customer had to fill in two pages of specific forms and have a brilliant internet connection on their mobile phone in order to make a payment on such an app. But with the e‐wallet, today the customer only needs a couple of taps on the mobile screen to make that purchase. Obviously, with the increase in usage of these apps, the sale of their products has also increased to an all‐new level.
One technology giant that uses this technology is itzcash.com. This website is one of the most popular online recharge and bill payment websites of the country, which not only allows you to use this convenient technology but also makes sure that you don't end up spending too much by providing round the year discounts.
By Kiran Mehta