What is an online transaction?
Online transaction refers to the transaction process via the internet or electronic medium. The smart pay is an electronic payment gateway and donation platform and works through the internet.
How is online transaction better than the offline mode of payment?
- Don’t have to look for change and coins – You can pay the exact amount without having to look for change and avoid the last-minute chaos.
- Fast and instant transaction – online payment works with superfast internet connection and network, and hence electronic payment is much faster.
- Transaction history – online payment platforms store your transaction history, and you can view that anytime on the application itself. This helps you to have an idea about the monthly expense and regulate your spending.
- Remain updated – Online payment gateway like Smart Pay gives instant notifications about payments on your registered mobile number. This makes sure that you have instant knowledge about all your successful payments.
- Saves from fraud and cheat – The instant notifications and transaction history information makes sure that you are aware of your bank transaction activities and changes. This saves your money and provides you safety and security from any fraud and cheating. It provides 100% transparency of the bank account.
- Money safety – you don’t have to carry cash everywhere, so there is no chance of money misplacement or fear of losing money. So your money is safe with the online payment account.
- Contact-free – In the time of the pandemic working with cash can be very risky. The digital payment provides contact-free payment and transaction method. Hence, this a safer method of transaction.
- Time saviour – Online banks don’t require you to walk through the streets and visit the bank. It saves your time and works via electronic medium and devices.
The best part about online banks is that you don’t have to visit the bank physically and can do all the work sitting at home simply through your phone with the help of an internet connection. You don’t have to worry about the bank closing days or closing hours. This makes it very convenient and comfortable for the person, especially in the time of coronavirus. This mechanism saves time and labour for a person and also maintain zero physical contact, and maintains social distancing.
