How Using UPI Payments Can Save Your Time & Money

A unified Payment Interface, popularly known as UPI, has revolutionized the finance industry and how we pay our bills and make transactions. It is a more convenient way than the traditional ways of making payments. This service is faster, more comfortable, hassle-free, and much more used by people who are more into online shopping as it allows them to win exciting rewards. It has many advantages, like not carrying limited cash when accessing UPI.

Today UPI is used and accepted in many countries worldwide and is growing daily. More and more people are adopting this platform of UPI payments. In this short guide, you will explore how we can save time and money using UPI Payments. So let’s get started.

Perfect choice for online shopping

UPI has been used a lot in online shopping platforms. You can select the products you want to purchase, add them to your cart, fill in your UPI id or payment details, make payment, and be done. Now, how is it more convenient than cash on delivery options? So, when you use UPI payments, you can make the payment anytime and complete the transactions within seconds.

You can even use apps like Magicpin and Fave for your online shopping to earn rewards and discounts on gift cards.

Minimum steps

Unlike the other ways of making money transactions, UPI payments have fewer steps where. You can pay just by entering your pin in a few seconds. It is faster than traditional payment methods, like using a card or ATM. It also saves time as you don’t have to go to banks and stand in long queues to withdraw cash.

You only need to scan the QR code of the person to whom you must send the money, enter your security pin, and be done. That’s it! If you don’t have the QR code of the person to whom you want to send money, you can also use their UPI id/ number to send the money. But their mobile numbers (to which you send cash) should be linked to their bank accounts.

No need for a fast internet connection

The UPI payment apps like Fave & Gpay we generally use don’t require a high-speed internet connection, as these apps are very light and efficient. You can make payments easily, even with low-speed internet. The shopping done through UPI payments does not switch between many channels and pages, reducing the overall waiting periods.

Earn rewards/discounts and cashback

Today, almost everyone is enjoying UPI payment services and saving time and money. The more you use UPI payments, the more you get rewards and cash backs. Any brands and products offer cashback every time you make a payment. You can also win gift vouchers from payment apps like Gyftr and Fave; you can use these gift vouchers to shop next time and get good discounts.

Carrying cash all the time is challenging, as you have to count them and keep track of how much you have spent and how much is left manually. The problems that might arrive here are many. Besides, it is a different hassle altogether if you lose your money. Hence, using UPI to make payments is a good option to save us money and time.