In a technology driven world, everything is controlled virtually. Funnily enough, virtual is the new reality. And as tech freaks, we aren’t alien to the concept of virtual money or as in lay man’s words – credit/debit cards but the term liquid money has taken a whole new meaning with the introduction of mobile payment technology and Digital wallet.
Projected to further growth, the market for this newbie has never looked better. With the current lifestyle, we are susceptible to be callous to a certain degree when it comes to money. I’m sure, the Gen Y agrees!
Digital wallet’s slick and streamlined functioning enables the user to perform in an efficient and organized manner. Traditional wallets did more than just being currency/cards carrier. For many, it was often a chaotic affair with little notes and tickets with fond memories stuffed hastily. A passport photo perhaps and the receipts which, let’s face it, we never knew why we stored them in the first place! Not surprisingly enough, when questioned people on the five things they carry with them at all times, wallet usually topped the list.
There comes the quintessential question, why the need for digital wallet? It’s an all-in-one technology which quite literally enables you to travel, shop and explore hands-free. One smart-phone and you’re good to go. No need to hassle around hunting for change in your wallet and pockets. One swipe and your payment is easy breezy with digital wallets.
The ever booming market of smartphones is undeniable and their collateral, apps market has made everything smooth sailing. There’s an app for every possible need including shopping, lifestyle, food…you get the drift. Mobile wallet is no new player in terms of app. Most of the Digital wallet giants have launched their own app.
Paytm and Mobikwik are some of the major mobile/online payment systems available. They let the consumer manage his budget and be more cost effective. With their information storing feature, it helps you a great deal for future transactions.
Most of them such as Paytm make coupons cutting great deals available to their customers which prevents them from burning a hole and availing the amazing facilities. They let you scout for the best of the deals and bring them to you. You, honestly, couldn’t ask for more.
While many may still be rather apprehensive when it comes to Digital wallet given the security issues but that too has been well taken care of. Several Mobile data security software have come up which give your mobile an all around protection including the private data stored in it. If you are vouching for the upside then you got to look for the downside too. Who knew technology was this fast-paced?