Mobile wallets are here to stay! While India is still getting used to the idea of digital wallets, we are actually witnessing more and more service providers like cabs, restaurants etc.tying up with wallet providers to make payments more secure, quick and hassle free.
Mobile wallets are a good sign for the dream of Digital India. But before we just go out and start using them, remember to note some of the risks involved with mobile wallets and how to avoid any hassle during usage. Just take these precautions and learn to use mobile wallets. After all, the future is all about going digital, isn’t it? Before we go to the tips, let me tell you some of the best mobile wallets in business are Paytm, Mobikwik, Oxigen etc. Get your Mobikwik wallet and get attractive cash backs for bill payments, ticket payments and so on with Mobikwik coupon codes right here.
Choose a good wallet provider
While a number of wallet providers exist in India to date, get one that is compatible to the apps you use most. Also, check out for wallets which suit your needs like the maximum amount credit limit and so on.
If you often eat out at a restaurant or shop at a particular site offering maximum cash backs on a chosen wallet, it makes sense to choose that particular one.
Secure your device
If you lose your mobile, there are high chances you might lose the money in your wallet too. The person who steals your phone can use the money available on your mobile wallet. So, it’s important that you secure your phone with strong passwords and don’t leave your phone around unattended.
Avoid Vishing/Phishing fraud
This often happens with our bank accounts but it has even extended to mobile wallets. Never, ever share your PIN or OTP password with any caller. Fraudulent persons might call you asking for PIN/OTP numbers or initiate a transaction from your password.
Don’t fall for these age-old tricks and always be on the alert.
Carefully choose the apps you want to link
Since you will be linking your wallets to apps, make sure the app you use is trustworthy and reliable. So we urge you to read reviews about different apps and then download them for using your wallet.
Use digital wallets for one click/small payments
Now that you have got a digital wallet, the question arises, when and where you can pay with it? The most important thing to remember is, they can be used for daily convenience bookings like cabs and recharges which are super simple.
Also, remember, these wallets are best when you make small purchases.
Track your wallet usage often
Digital wallets are pretty comfortable and once you get a hang of it, you will be using them more often since they are convenient, fast and come with a host of offers. The only catch is that this may make you overspend. Always have a tab on your spending through wallets at periodic intervals.
Use your wallet regularly
Remember to use your wallet regularly! If you have an unused balance which lies in your wallet without transactions for more than 6 months, your wallet will be treated as expired and the amount will be forfeited.
Hope you benefit from these tips the next time you use mobile wallets.