Here’s What Makes Digital Banking Apps So Convenient for Payments


The popularity of contactless payment has increased the use of mobile banking apps. The advanced features like interoperability and instant banking services have further strengthened their use. Being interoperable, the digital banking apps allow customers to link their other bank accounts and make payments easily.

Online Banking Apps Make UPI Payments Easier

With the Unified Payment Interface (UPI), you can link your saving account and make digital payments easily. The steps explained help you initiate the UPI payments journey with an online banking app.

  • You need to go to the Google Play Store and download the relevant bank app
  • Log into the app by following the steps and link your bank accounts to it
  • Click on the option ‘UPI’
  • Next, choose ‘My Profile’ from the menu in the ‘Manage’ tab
  • Create your UPI ID or choose from the suggestions and proceed after checking the availability
  • When you give ‘Submit’, you have your UPI ID created.

The integration of the UPI payment app facilitates easy online money transfer, as well as request funds from anyone through virtual payment address anytime. The app also enables you to send reminders to make payment and set deadlines for the payment. Merchants can use the reliable and user-friendly app to accept payment by generating a UPI QR code in the menu on the UPI app.

Once it is generated, you can download your unique QR or UPI code, print and display it at the cash counter of your store. Your customers who want to make the payment can choose the ‘Scan and pay’ option on the app and make the payment using the UPI PIN.

Use the Digital Banking App to Set Up ‘Collect Payment’ Request

Being interoperable, a banking app also permits you to set up a ‘Collect payment’ request by selecting the ‘Ask’ tab. This asks you to enter the payer’s ‘Virtual payment address’ (VPA) and the amount. Once you have entered the required details, you need to submit your request. The payer receives the request, and when he or she authorizes it, you will get your payment credited to your digital savings account. Through reminders or by setting a time limit, you can make the payer pay quickly.

Various Ways of Making Credit Card Bill Payments on Banking Apps

Your credit card bill payments are made easier on a banking app in several ways. The option ‘Autopay future bills’ will help you to initiate an auto-debit instruction through registration. With the Internet banking facility on the app, you can pay your credit card bills going through a few steps. The other option is to pay through UPI or BHIM app.

It is not just the bill payments; a mobile banking app also helps you make payments by investing in mutual funds and initial public offerings (IPOs). With a 3-in-1 trading account, you can trade on equity and commodities making and receiving payments in your account in any of the payment methods mentioned above.

If you are still not into mobile banking, it is high time you register with a relevant banking app.