Demonetization proved to be a boom for mobile wallets. Cashless is the new buzzword in India. It will not be an exaggeration that mobile wallets are one of the synonyms to become Cashless. In my post, Cashless Payments - 15 ways to become a cashless person i shared that mobile wallets are one of the convenient ways to go cashless. To be very honest with the readers, till date i have not come across a single post discussing mobile wallets and income tax angle. Though it might not be relevant in all the cases that we will discuss later in the post. I thought of sharing my views on the same ... Read More
UPI or Unified Payment Interface – 15 Imp Points You Should Know
Finally a post on UPI or Unified Payment Interface :). In last 3 months, i received numerous requests from the readers of the blog to share my views on UPI. Honestly, i was waiting for the dust to settle down and launch of HDFC Bank's and SBI's UPI App. As i mentioned in my "About" page that i will share what you don't know. Therefore, i took some time to came up with a dedicated post on UPI. In my opinion, UPI is sort of financial revolution. Wherein you need to remember only a virtual private address to make or receive payment. It is truly a step forward towards a cashless economy. You need ... Read More
Cashback Offers – Five Points to Check Before Purchase
Cashback offers are raining this shopping season. It is a new form of discount contrary to direct discounts offered by E-Commerce players. Cashback offers are offered by Mobile Wallets and Credit Card Providers. These mobile wallet companies are now eyeing a pie of e-commerce space. It is a logical horizontal extension for them to complete the value chain. When mobile wallets were launched, i shared a post, Mobile Wallet - Convenience or Inconvenience. At that time, my personal opinion was that it is more of inconvenience. The money gets locked but the only advantage was security i.e. you need ... Read More
Long Duration Pack of DTH – A Personal Finance Case Study
Recently one of the DTH provider heavily promoted Long Duration Pack. The key message was that usually husbands forget about month recharge of DTH. Therefore, Long Duration Pack is best suited for busy families. It's like fill it, shut it and forget about it. I was quite impressed with the family Ad of the DTH provider. Tough i always recharge my DTH Connection on time but due to prepaid nature of the service, i thought of giving it a try. A couple of days back, i told my wife why don't we opt for Long Duration Pack of our DTH provider. My wife was not convinced. She said that there is no ... Read More
Should i opt for Social Media Banking?
Social Media Banking or Social Media Money Transfer is the new buzzword in the Banking Sector. Banks are trying to tap the growing popularity of social media. Mobile Money Transfer is future. Currently, in Mobile Money Transfer space 4 major experiments are happening simultaneously. These are Social Media Banking, Mobile Wallet, Mobile Banking Apps and IMPS. There is possibility of some overlap between 4. We discussed IMPS - Immediate Payment Service in my previous post. Predominantly, IMPS is the backbone of Mobile Banking as most of the new experiments are utilizing IMPS. Mobile Wallet, We ... Read More
7 Tips to Save Money on Mobile Recharge
When i bought my 1st mobile, Incoming calls were chargeable. Mobile Recharge was sponsored by my father :). Share of telecom spend in monthly household expenditure was controlled/limited. Internet access was mainly through cyber cafes. The best friend of any household was good old landline phone. Gradually, after getting habitual to use of mobile phone the spend on mobile recharge slowly became price inelastic in relative terms. In short, there is no impact on demand (read: usage of mobile phone) with change in cost / higher mobile recharge value. Today i was reading a news article that mobile ... Read More