By Jaelyn Larry
Mobile phones and technology have played an essential role in allowing us to have almost anything we want with just a few clicks, from food, clothing, medicine, and even banking services. Today we have a portable bank with us because of the smartphone. In the past, nobody would have conceived that it was possible to send money from one mobile device to another, and today we can do the same, and we like it more than the conventional way of exchanging paper money.
Banking through mobile would have sounded absurd years ago. Still, now we love it as it has made it so convenient for us to dodge going to the bank for every other banking service and countless trips to the ATM.
The term “mobile banking” refers to the products and services offered by banks and other financial institutions that enable their clients to carry out financial transactions remotely using mobile devices like smartphones, tablets, or laptops.
At the time of the pandemic, when the world was under complete lockdown, it helped continue the financial transactions across the globe. Mobile banking was still on the rise before the pandemic, but the pandemic gave it a huge push and accelerated its growth exponentially. People used the UPI transfer service aggressively because we had to complete all transactions remotely during the pandemic. In addition, because of the pandemic, mobile banking transactions skyrocketed as we had resources to continue banking from home with internet connection and electronic devices. Nowadays, having a smartphone is equivalent to carrying a bank in your pocket.
These net banking apps are a boon for our financial lives. They are simple to use, efficient, and useful. These apps make the customer’s banking experience convenient and straightforward. They offer all the services in only a few clicks. The complete documentation process has also been more accessible, and you must now upload your documents to the application at the very least. You can also utilize mobile banking for any bank account, such as a current or savings account.
Don’t worry about its security; you can entrust the mobile banking apps with your financial information. Mobile banking apps are safe, protected, and user-friendly; they typically have multiple layers of security to protect your information. Before any transaction, two-factor authentication is used. Facial recognition, PINs, and fingerprint scanning are a few additional security measures that you can add. Customers who use mobile banking regularly keep a close eye on their bank accounts and immediately notify the bank if they notice any fraudulent activity.
Mobile banking apps are more convenient than going to the bank. This process is now more efficient, thanks to mobile banking apps. You must enter your information into the mobile banking app and have your online bank account ready, you can start using the UPI payment feature to pay bills, recharge, and send money.
If you try mobile banking, it is guaranteed that it will become your preferred choice of banking in no time.
Say hello to mobile banking with the BHIM UPI app.
