• 15-Dec-2016
• Written by Jaydeep Goswami
• Tagged as | Online Payments | Wallets | Cashless India | Paytm Payments

Hello Friends, 

        Either We all are very much aware or have very little knowledge about Online Payments. Before the decision of Indian Government for "Digital India" and "Demonetization" of old 500 & 1000 rupees notes it was okay to be unaware about Online Payments (i.e., Ways / Methods / Usages). But Now after this bold decision of our beloved government, it feels like it has become mandatory for every individual citizen of our country to have enough know-how about the technologies available and how we can pay / transfer money online to support India become corruption free.

Don't Worry friends i would like to help you through all the possible ways to perform online transactions and contribute to this good decision of our government. 

Now coming to the topic straightaway. There are many ways to Pay / Transfer Money Online. Most of them are listed below:

1. Card Swipe POS Machine

2. Using e-wallets

3. Paytm Payments

4. Using Payment Gateways

1. Card Swipe On POS Machine

       According to the present scenario in our country, POS Machines are the widely used medium to accept payments using Debit cards or Credit Cards. This is one of the most easiest way to pay or transfer the money to seller or merchents directly. But here in this case we must have to carry a Debit/Credit Card along with us, without this we can not perform the transaction. 

Steps to pay money by Card Swipe Machine are damn easy as that which mentioned here next.

• Swipe the Debit / Credit Card with Machine as shown in above Picture.
• Enter the Amount to be transferred.
• It will ask you for the 4 digit ATM PIN given by Bank. Enter the same PIN.
• Press Green Button.
• Collect the Receipt. 

That's it! You are done. If your transaction was successfully completed, you'll get the receipt. or if it was interrupted than reason could be anything like Incorrect PIN, Insufficient Balance or Connectivity Issue of device. 

2. Using E-Wallets

What is E-Wallet?

E-Wallet is a feature exclusively for customers who have registered and established a profile on E-wallet provider's site. E-Wallet allows you to store multiple credit card and bank account numbers in a secure environment, and eliminate the need to enter in account information when making your payment. Once you have registered and created E-Wallet profiles, you can make payments faster and with less typing.

How does E-Wallet work?

E-Wallet provides the ability to store multiple credit cards, debit cards and back account information for making faster payments. You can create many separate profiles for both credit and debit cards, and many separate profiles for checking and savings accounts. You can edit and delete these profiles as needed. When making a payment after logging in to E-wallet's My Account, you will save time by having your credit or bank account information filled in automatically.

Benefits of E-Wallet

E-Wallet saves your time because you don't have to look for your credit card or bank account information every time you make a payment. The payment information from your Primary account is conveniently pre-filled during the payment process, and you can quickly select another payment account if you have more than one set up.

There are many service providers who provide Wallet Services in India Some of them are Paytm, Freecharge , Mobikwik , Jio Money Wallet , Oxigen Wallet and many others.

3. Payment using Paytm QR Code

        Paytm has recently taken a very good initiative towards letting people accept and transfer money online with very ease and it is also one of the fastest growing method among all other methods available. Here in this Merchants or sellers register their businesses with Paytm by providing them the basic details and can get the QR code to accept the payments as shown in the above picture.

Lets have a look at the simple procedure to transfer or pay the money by using Paytm payment option. 

• Download a Paytm App
• Register or Login with Paytm account
• After Logging in Select the Pay option from the Home screen
• You'll see Pay or Send Money Screen. There you can Pay or send money in 4 ways
  1. Scan Code : Here camera will turn on and you can than scan the QR code of the seller as shown in the above picture and make the payment.
  2. Mobile No. : Here instead of scanning QR code you can directly transfer the money by entering the registered mobile number of the seller, Amount to be paid and (optional) name of the commodity.
  3. Show Code : Here Payee can pay the money by giving the Bar Code / OTP generated to the merchant or seller and Seller upon can process the code and receive the Payment into their account.
  4. Payment Request : Seller here can request the payments from the buyers or can resolve the pending payments here.
• In the above methods, 1st and 2nd Method is used by buyer to Pay the Money where as 3rd and 4th method can be used by seller to accept the Payment.

While Paying money using Paytm, Money will be deducted from the Wallet of your registered account. If there is no money available in wallet than upon payment, money first will be added to your wallet and than will be transfered to the Paytm Sellers account.

4. Using Payment Gateways

        A payment gateway is a merchant service provided by an e-commerce application service provider that authorizes credit card or direct payments processing for e-businesses, online retailers, Ecommerce sites. The payment gateway may be provided by a bank to its customers, but can be provided by a specialised financial service provider as a separate service.

Many of us have seen it while Shopping Online, Recharging Mobile phones or Paying taxes Online. After choosing the services we want, we are redirected to the Payment Options. Several Payment options will be availabe to choose from, like Debit Card, Credit Card, Netbanking, Wallet etc. 

Select the method by which you want to pay the money, Enter your card / Netbnking account details, Proceed with the secure pass and your transaction is finished.