Use Online mode of Payment and stay safe from COVID-19

SMART PEOPLE USE SMARTPHONE, 
BUT YOU ARE NOT SMART ENOUGH IF YOU DON'T USE ONLINE MODE OF PAYMENT
 BECAUSE COVID IS SMARTER THAN YOU.

If you have a smart phone and your phone number is already linked with the bank account, you can easily migrate to mobile banking. Lockdown or no lockdown, adopting digital payments is the way to go. Steps involved are simple—download, activate and start using—in flat five minutes, if not two minutes as is claimed by many. For downloading the mobile banking package of your bank, go to Play Store/App Store in your phone. As you open the app, it would lead you to activate your mobile banking and ask a few questions to validate whether you are the right customer. It may also ask you to create a user ID and password. You will find various functionalities in the mobile banking app—including payments through IMPS and NEFT. Many banks have integrated UPI, bill payments and e-commerce links in the bank app itself. Thus, you would have all three digital payment options. They are available 24×7. Make small transfers of Rs 5-10 to your family members or friends using all three options, and choose the one that suits you best. Personally, I would suggest using the UPI option because of its simplicity and variety of use cases and online grievance handling procedure. You can meet most of your payment transaction needs via UPI—like money transfers, payment of utility bills, school/college fees, ordering home delivery of food items or buying from e-commerce market places, and even tax payments.

mobile banking app of your bank, you can manage various types of banking transactions including payments. SBI has positioned its YONO application as “You Only Need One” app, and so is the case with many leading banks. My recommendation is that you use your own bank’s mobile app, and supplement with one of the third-party packages like BHIM, GPay, PhonePe or PayTM. BHIM is managed by NPCI—the operator for UPI system itself. If you are a frequent user of Amazon, it has Amazon Pay—their UPI offering. Almost all mobile banking packages and all UPI packages mandatorily have QR code features. At small kirana stores, you can open the UPI app and pay by the QR code.

Precautions: Follow the tips regularly being sent by your bank through broadcast messages. Key recommendation is not to share your user Id, password, UPI/ATM PIN, OTP and account details with any one. Keep your mobile password protected so that no one misuses it. Look for SMS alerts for every transaction made. If you follow the bank prescribed precautions, you would not be liable even if there is a cyber-attack on your account. RBI has come out with zero liability circular to protect the customers, provided complaint is lodged with the bank within 72 hours of fraudulent transaction.