Soon it will be almost a month since NaMo went no more on the 500 and 1000 rupee notes. Considering how those denominations accounted for most of our cash transaction, the country has been rendered cashless for three weeks now.
The new month has come by and our bank accounts have been refilled but the cash crunch still leaves most of us as broke as we were before payday.
While certain aspects of life are still affected, a tech upgrade can overcome basic difficulties and allow you to carry on with your daily business. By having the right apps, such as these, you should be able to navigate your way without worrying about the demonetization set back.
While a local bus and train traveller might not need a Rs. 500 and Rs. 1000 note on hand to travel every day, the cab-takers will surely get stranded. To beat this travel problem, having a cab service app like Ola cabs and Uber might save the day. You can make these payments via bank or mobile wallet transactions.
You don’t have to go hungry if you don’t have cash. With apps like Zomato and Foodpanda, you can enjoy a hearty meal from any of your favourite restaurant and pay through their online payment options. There are also other food services in many cities where you can order food via a debit or credit card.
For everyday items like vegetables, bread, rice, sugar, and toiletries you can rely on grocery apps like Grofers and Big Basket. They usually have discounts and coupons when you buy via the app. So, stop worrying about having no cash because going cashless just saved you a few bucks in the bargain.
Mobile wallets were always a handy service to have around but with the demonetization they just got a lot more useful. Add money to wallets like PayTM, Mobikwik , PayUMoney and use it to pay for food, cabs, movies, groceries etc. These days even your cigarette guy and rickshaw walla accept wallet money, which is helping a lot of us cope during this cash crunch situation.
Most mobile wallets also give you a direct option to pay all kinds of bills including, mobile service, MTNL, electricity, DTH etc. You can also use it to recharge your pre-paid phone. Not only does this cut all the trouble of standing in lines, but you also get a lot of cashback and discounts when you pay via these wallets.
In light of this demonization move, the Government of India has been encouraging its citizens to use digital payment modes. Earlier this year they introduced the Unified Payment Gateway (UPI) app which works as a digital wallet. You can use it to make payments at supermarkets and vegetable vendors too without involving your debit or credit card or even cash. Every bank comes with their individual UPI app where you must register yourself with your bank account and mobile number. Once you’re verified, your virtual ID is created you can pay via this app from your phone. The Government is getting all banks and the public to register with this service so that all transactions are made through it and we’ll be less dependent on cash.
Unified Payment Gateway: Banks have UPI apps of their own, so, open play store and look for your bank name with UPI. For example PNB UPI.