#neft | Explore Tumblr Posts and Blogs

ifmfincoachinfo · 1 year

Text

Digital Payments In Today’s World

Since the time of the stone age, we have witnessed several changes in all aspects of life forms. The oldest form of commerce, the barter system involved the exchange of goods and services between two or more parties without the use of money.

Later, the currency system emerged where the elites of Lydia and Ionia used stamped silver and gold coins to pay armies.

The Evolution of Money - Barter to Cryptocurrency

Throughout the years, like all life forms, economics and payments have seen a drastic change. From the barter system to the currency system, humankind has successfully adapted innovative technologies.

Today, we are witnessing the era of digital payments. The current payment methods are already a key indicator of our progress. They are powered by cutting-edge technology and boast our current technological advancements.

In fact, a number of countries like Sweden, Finland, the UK, China and Norway have already moved to a completely cashless society or are on their way to becoming one.

The concept of a cashless society is increasingly becoming popular. Payment methods like UPI, NEFT, Point-of-Sales terminals, and mobile wallets are preferred as they are single-click authentication.

Digital Payments in India

India has shown the world that they are a real-time digital payment by almost 40 per cent of all transactions. As a matter of fact, Prime Minister Narendra Modi praised UPI - Unified Payment Interface and the fintech sector on the occasion of Independence day.

According to the latest data, India’s digital payment market is expected to rise more than triple to $10 trillion by 2026. At the same time, digital payment methods including UPI transfers and credit card transactions will likely reach saturation point in India by FY27.

However, the cash flow will still be used. Such a transformation of the financial landscape will definitely observe intense involvement for business, society and government.

Having said that, let's have a look at the benefits and drawbacks of digital payments to understand why countries need to be even more adaptive to such payments soon.

Benefits

Digital payments provide better transparency in the transactions, which reduces the instances of money laundering & theft.

Extremely easy to track all the payments you make accurately and in real-time.

Digital payments can massively reduce the time and cost used to handle & store physical currency.

Faster transactions, making it easier and more convenient for both the retailer & the customer.

Tradition banking transactions charge some handling fee. However, Online Transactions are usually free, making transactions less costly.

Drawbacks

A potential risk of personal & financial data breach, in case the websites don’t have high-security measures in place.

Digital Payments rely upon internet connectivity heavily. So, when the internet connectivity is not there or the servers are down, it will be challenging for people to make transactions/payments.

Instances of impulsive buying may rise since you have to swipe or click to complete the transaction without needing to check your balance.

Taking all the benefits and drawbacks into consideration, digital payments come as a boon and have made our lives much easier than before.

At the same time, online retailers have a wide variety of security tools, For example - they encrypt data on the systems, Pay Pal’s security has a second authentication factor, SSL certificates, firewalls and regular system scans.

On the consumer end, there’s an option of creating strong passwords, sign up and anti-virus software up-to-date.

However, many still prefer to be more inclined toward traditional transaction methods. Ultimately, it all comes down to the personal preference of the person making the transaction, whether they want to go digital or stick to cash transactions only.

The Rise of Ecommerce

For all the reasons outlined above, online transactions are safe and secure. The shift in E-Commerce also played a pivotal role in promoting the use of digital payments, If data is to be estimated, there are around more than 289 million buyers buying things online. At the same time, it is expected to grow at a rate of 9.5% per year.

The more the use of E-commerce websites the more digital payments. Furthermore, it is also related to the strong accessibility to the internet.

Millennials are raised with internet usage and online shopping. This generation spends more money online than any other age group. Clearly, online payments are clearly the way of the future. But, the only concern that needs to be taken care of is security.

However, all cash is not the solution. So, where are we leading? Is a cashless society the future? Let’s move to the conclusion to know about the changed behaviours and alternate payment options.

Is a cashless society the future?

Today, technological innovation has made financial transactions seamlessly possible on computers and mobile devices. Now it is taken for granted, going forward.

Clearly, caution should still be exercised. Yet experts in a post-pandemic world say that it is likely that digital payments will become increasingly popular.

At the same time, with our transactions quicker, faster and better, caution should be taken regarding vulnerable people around us.

#ifmfincoach #ifm fincoach #digital currency #digitalcurrency #crypto #cryptocurrency #upi #neft #online currency

9 notes · View notes

gulgunsubhanburhanli · 2 years

Text

7 notes · View notes

nagarjun33 · 1 month

Text

We Accept All Payment Modes

With Domestic and International Credit and debit cards,(Credit/Debit Cards & Cardless), Netbanking from 58 banks, and 8 mobile wallets, Instamojo Pay, UPI Phone Pay, WhatsApp Pay, Paytm, Google Pay, and Amazon Pay, provide the most extensive set of payment methods. you can make the payments in an easy way

Contact :

Call: 9080 845 845

IVR: 080 - 41507898

Mail: [email protected]

Head Office :

#3/869-A, Ground Floor, Moolakadai,

Nochipalayam Pirivu, Palladam Main Road, Veerapandi (Po),

Tirupur – 641605, TAMILNADU,INDIA.

Ph: +91- 421 - 4333009

Corporate Office :

#13, Ground Floor, K.V.R Arcade, 2nd Main Road,

3rd Block, Behind Gokuldas Images, Goraguntepalya,

Bengaluru – 560022, KARNATAKA, INDIA.

Ph: +91- 80 - 41507898

youtube.com/c/NagarjunInternationalTradingCompany

#AcceptAllPaymentMethod #netbanking #RTGS #NEFT #starfish #nagarjunitc #15yearsofnagarjun

0 notes

sourabhmag · 7 months

Text

Unity Bank: NEFT Transfer App

Say hello to Unity Bank with our digital-first mobile banking app! In this digital era, all your banking and financial needs can now be addressed at your fingertips. You can also become our customer by creating your savings account in just three minutes with our app!

As a bank, we aspire to provide the best-in-class and new age products that ensure access and ease of banking for all.

Here are some of the features that you can enjoy on the Unity Bank’s mobile Banking App: • Banking on the Go: Every financial transaction you can think of can now be taken care of from any corner of the world with just a few taps. • Fixed Deposit and Recurring Deposit: Get easy booking for Fixed Deposit (FD) and Recurring Deposit (RD) in just a few taps. Use our Fixed deposit (FD) calculator and Recurring deposit (RD) calculator to plan your investments better. Pre-mature withdrawal of FD/RD is available for flexibility. • Open Savings Account: Start a journey of savings with us. Opening a new savings account is now as simple as a few taps on your screen. With Unity Small Finance Bank’s Digital Savings Account, -Create mini statements and detailed statements of your savings account. -Quick money transfer through NEFT, RTGS or IMPS • Payee Management: Managing your payees is now quicker and safer. Enjoy seamless and speedy transactions without the need to register a beneficiary. • Money Transfer: Experience the ease of conducting all your financial transactions on one platform. Transfer money from one account to another seamlessly and securely. You can transfer your money through NEFT, RTGS or IMPS. • Video KYC Facility for Easy On-boarding: Forget the long waits and numerous visits to a bank. Our Video KYC feature makes the on-boarding process smooth and time-efficient. • Cheque Book Request: In just 3 taps on our app, you can request for a cheque book and save the time and effort of visiting a bank branch. • Account Balance Maintenance: Check your account balance anytime, anywhere, and request detailed statements with complete transaction history for better money management. • Profile Details: Ensure that your bank records are up to date without the need for a bank visit. Update your profile details like contact information, address, and more, instantly through the app. • Nominee Additions: Secure your finances by adding a nominee all done seamlessly within the app.

Our Unity Small Finance Bank app seeks the following permissions: • Location: This assists to access your approximate location. • Camera: This allows you to access your gallery or capture a new image for uploading your signature while creating new account and change your profile picture. • Phone: This helps us provide you with access to our customer contact centre.

Note: We rely on multi-level security and encryptions to ensure data safety with us. We do not share your personal information with third parties or other companies. Your savings account is fully secured with us.

Documents required: All you need to begin are your 1) Aadhar card details. 2) PAN card details. 3) Pen and blank piece of paper (to upload your signature).

Ways to Login: To keep your account safe and secure, you can login in the following ways: 1) Login using password 2) Login using biometric 3) Login using Easypin

Experience faster, and smarter mobile banking today with Unity small finance bank’s mobile banking app. For any feedback, queries, or issues related to the app, reach out to us at [email protected] or call 1800 209 1122.

#neft #neft transfer app

0 notes

payg-payment-gateway · 7 months

Text

epayg.in/important-features-of-imps-rtgs-neft-and-upi-for-your-business-payments.html

Important Features of NEFT, RTGS, IMPS, and UPI for your Business Payments

Online fund transfers like NEFT, RTGS, IMPS, or UPI are reliable, fast, and convenient for the business payments. Using these services, you can transfer funds easily without having to wait in long queues to withdraw cash

#importantfeaturesofIMPS #RTGS #NEFT #UPI #businespayments #impspaymentmethod #impspaymentsystem #impsvsneft

0 notes

privoapp · 7 months

Text

NEFT vs IMPS vs UPI - Digital Payment System Comparison

NEFT vs IMPS vs UPI: Unveiling the Digital Payment Landscape

Digital payments have revolutionized the way we transact. But which one suits your needs the best? Dive into the world of NEFT, IMPS, and UPI with our comprehensive comparison guide.

Why Read Our Comparison?

Understanding the Basics: Get a clear grasp of what each system entails.

Transaction Speed: Learn which method is the fastest for your urgent transfers.

Transfer Limits: Discover the limits imposed by each system to manage your finances effectively.

Security Features: Ensure your hard-earned money is protected with insights into security measures.

Availability and Accessibility: Find out which system aligns with your convenience and device.

Cost Considerations: Stay informed about any charges associated with your transactions.

Make Informed Choices

Your financial transactions deserve the best-suited platform. Don't miss out on making informed choices that can impact your financial well-being positively.

Read More: NEFT vs IMPS vs UPI Comparison

[Note: Privo Financial Services is dedicated to your financial awareness. Always consider your unique needs and circumstances when choosing a digital payment system.]

0 notes

news4nose · 8 months

Link

In the rapidly evolving Digital Payments scenario, India has emerged as a global leader in electronic payment systems. With a booming digital economy, the country opts four specific ways to transfer funds. Do you know how to make the best choice for transferring funds and what factors to consider?

#digital payment methods #NEFT #RTGS #UPI #IMPS #electronic payment systems #digital economy #finance #BANKING #internet banking #economy #transfer funds #funds #digital payments #blogging #financial tips #financial knowledge

0 notes

roshnijane · 8 months

Text

when it comes to NEFT transfer, one of the frequently asked questions is about the NEFT timings, NEFT settlement time, and other restrictions to sending money via NEFT payments. So to help answer this and other questions you may have about NEFT, continue reading to find out!

#nefttransfer #neft #razorpay #paymentgateway #payment

0 notes

mirrorreview · 1 year

Link

Bank of Maharashtra is one of the oldest public sector banks in India headquartered at Pune, Maharashtra. It has a total of 2022 branches along with 29 million customers. It provides services in both consumer and corporate banking. Let’s have a look at the Bank of Maharashtra timings.

#bank of maharashtra #NEFT #RTGS #IMPS #oldest public sector banks #corporate banking #BOM

0 notes

corporategenie · 1 year

Text

NEFT RTGS Change Rules

In 2020, the Reserve Bank of India (RBI) announced some major changes to the National Electronic Funds Transfer (NEFT) and Real-Time Gross Settlement (RTGS) payment systems in India. These changes were implemented to make the payment systems more efficient and secure, and to encourage digital transactions. One of the key changes was the extension of NEFT and RTGS availability hours. Now, customers can transfer funds through NEFT 24x7, which means they can initiate and receive transactions any time of the day or night. Similarly, RTGS timings have been extended to 24x7 from 14 hours on weekdays and 6.5 hours on Saturdays. Another significant change is the reduction in transaction charges for NEFT and RTGS transactions. The RBI has completely done away with processing charges for NEFT and has also reduced the charges for RTGS transactions. To enhance security, the RBI has also made it mandatory for banks to incorporate additional security features in their payment systems, such as multi-factor authentication, and to put in place adequate fraud prevention measures. These changes have had a positive impact on the payment ecosystem in India, making it easier and more affordable for customers to make digital transactions. The extension of NEFT and RTGS hours, the reduction in transaction charges, and the focus on security are all steps in the right direction, and will help to drive India's journey towards a more digital and cashless economy.

#Neft

0 notes

metbuat · 1 year

Text

ENI fevral ayında LNG yüklərini Pakistana çatdıra bilməyib, fors-major elan edir

KUALA LUMPUR, 26 yanvar (Reuters) – Eni (ENI.MI) çərşənbə günü bildirib ki, fevral ayına planlaşdırılan mayeləşdirilmiş təbii qaz (LNG) yükünün Pakistan LNG Limited-ə çatdırılması fors-major hadisə səbəbindən dayandırılıb. İtalyan mayorunun 2017-ci ildən 2032-ci ilə qədər Pakistan LNG-ni ayda bir yüklə təmin etmək üçün 15 illik müqaviləsi var. “Fevral ayında LNG tədarükünün dayandırılması ENI-nin…

View On WordPress

0 notes

techukthi · 2 years

Text

NEFT क्या है NEFT Full Form In Hindi (NEFT और RTGS में अंतर)

दोस्तो आप लोगो में से बहुत लोगो ने पैसा भेजने के लिए NEFT का इस्तेमाल किया होगा और ऐसे भी बहुत लोग है जिनको अभी तक NEFT Full Form In Hindi, NEFT क्या है (what is NEFT in hindi), NEFT कैसे काम करता है, NEFT से पैसे transfer कैसे करते है, NEFT के फायदे और नुकसान क्या है, इन सबके बारे में सम्पूर्ण ज्ञान नही है, क्युकी बैंक के नियम हमेशा बदलते रहते है, इसलिए आपको इसके बारे में जानकारी प्राप्त करना बहुत जरूरी है। Read more

#neft #neft kya hai #neft full form

0 notes

nagarjun33 · 4 months

Text

We Accept All Payment Modes

With Domestic and International Credit and debit cards,

(Credit/Debit Cards & Cardless), Netbanking from 58 banks, and 8 mobile wallets, Instamojo Pay, UPI Phone Pay, WhatsApp Pay, Paytm, Google Pay, and Amazon Pay, provide the most extensive set of payment methods. you can make the payments in an easy way

Contact :

Call: 9080 845 845

IVR: 080 - 41507898

Mail: [email protected]

Head Office :

#3/869-A, Ground Floor, Moolakadai,

Nochipalayam Pirivu, Palladam Main Road, Veerapandi (Po),

Tirupur – 641605, TAMILNADU,INDIA.

Ph: +91- 421 - 4333009

Corporate Office :

#13, Ground Floor, K.V.R Arcade, 2nd Main Road,

3rd Block, Behind Gokuldas Images, Goraguntepalya,

Bengaluru – 560022, KARNATAKA, INDIA.

Ph: +91- 80 - 41507898

https://www.nagarjun-itc.com

youtube.com/c/NagarjunInternationalTradingCompany

#AcceptAllPaymentMethod #netbanking #RTGS #NEFT #starfish #nagarjunitc #15yearsofnagarjun

0 notes

sciencetopics · 2 years

Text

What is a Wire transfer (Large Value Payment System)?

The Wire transfer is basically a type of Electronic fund transfer that makes the movement of money wirelessly and spontaneously. It can be simplified as a direct bank-to-bank transfer either domestically or internationally. For domestic transactions, each country uses its own wire transfer methods. One of the important country-based wire transfer services is RTGS (Real Time Gross Settlement), which involves secure and fast transactions of the amount over the country.

#paymenttrends #barter #fiatmoney #wiretransfer #moneytransfer #RTGS #NEFT #Banks #Swift #clearinghouse #edtech #finance

0 notes

vinaygargofficial · 2 years

Text

#rtgs #neft #imps #banking #fund transfer

0 notes

linguist-gone-rampant · 2 years

Text

Neft(on) > Nibling

I hate the word nibling. this is ok to say cause some random guy created it

so we should use neft as the gender neutral nephew / niece instead

I have reasoning for this,

1. It is extremely similar to the Old English word nift (niece)

2. It isn´t just a play on words with (N)ephew/(N)iece and s(IBLING)

3. I made it from the PIE root h₂népōt and tried to evolve it down into

sort of old french/ old english and created Neft from it, so it has the same

etymology (sort of) as niece and nephew

4. it doesnt sound like you're eating your neft, like nibling does

(not the smilarity with nibbling)

pls use neft instead of nibling

#linguistics #imademytumblraccountforthis #neft #nibling

1 note · View note