Digital Payment

Electronic money has many names, like e-money, digital money and e-currency. It is a type of money that is digitally stored compared to tangible paper or coin currency.

Razorpay business account offers an array of features for merchants and businesses. You can use this account to pay vendors, employees, and customers. However, before you can start the payouts, you need to ensure that the RazorpayX business account has sufficient funds. To add money to your Razorpay business account, you can use any of the following two methods

If you’re a customer, using the Razorpay payment gateway to pay for an online transaction, then you don’t have to do anything to check the status of the Razorpay payment. You will automatically receive an email verifying the success of the transaction from Razorpay. Note that Razorpay is a payment gateway and only facilitates the process of payment. To get further details of your order,  you can contact the merchant.

Razorpay is one of the most innovative and popular payment gateways in India. Founded by a group of IIT Roorkee alumni, the company promises to make money management efficient and hassle-free for online businesses in India. It is backed by industry giants like Sequoia, Ribbit Capital, Tiger Global, Matrix, Y Combinator and several others.

By using the Razorpay payment gateway, you can receive online payments from your customers. However, you need to activate your account, before you can begin accepting payments.

No. Razorpay charges a nominal fee to customers for using its payment gateway. While setting up the Razorpay payment gateway for your online store, merchants can choose from two different plans.

UPI stands for Unified Payments Interface which is a real time payment system which was designed by National Payment Corporation of India. The interface is monitored by the RBI and can be used to transfer money from one bank account to another using mobile platforms.

Unified Payments Interface (UPI), developed by National Payment Corporation of India, is a real time payment system that is used for transferring money from one bank account to another using mobile platforms. The payment system is monitored by the Reserve Bank of India.

Unified Payments Interface (UPI) is a real time payment system that is used for transferring money from one bank account to another using mobile platforms.

YONO is a digital banking mobile application launched by SBI. The app is designed to fulfil all your banking requirements, shopping needs and provides insurance and investment solutions. Following are the benefits of SBI YONO app.

You do not need to pay any money to download YONO app, powered by SBI. YONO is a digital mobile banking app that lets you open a savings account, shop online for groceries, electronics and various other items, book movie and travel tickets, get overdraft facility against fixed deposit and apply for financial products. There are no charges attached for any of the services provided by YONO App.

YONO mobile application was recently launched by SBI, offering digital banking services and various other services. Meanwhile SBI Anywhere Corporate is a corporate internet banking based mobile application that helps small companies to operate their accounts on the move. It is difficult to draw a fair comparison between the two and arrive at the best one as both cater to different needs and purposes.

YONO is a digital banking mobile application that is introduced by SBI. With the mobile application, customers can open a savings account, apply for various financial products, shop online, track your expenses, choose investments, insurance schemes and conduct financial transactions. Following are some of the notable features and benefits of the newly launched mobile application.

SBI upgraded their online banking app to the YONO App.  SBI YONO App boasts of itself as a one-stop solution for all your banking needs. YONO basically translates to ‘You Only Need One.’

YONO is a digital banking mobile application launched by State Bank of India. The app is designed to fulfil all your banking requirements, shopping needs and provides insurance and investment solutions. Following are some of the impeccable features of SBI YONO app:

In India, paying to a business in the form of cash cannot be refused. However there are certain types of transactions or amounts that can’t be done in cash. Accepting cash worth Rs. 2 lakhs or more in total from a single person in a day or for a single occasion will lead to violation of the cash transaction law. Receiving or repaying more than Rs. 20,000 in cash for transfer of immovable property can land you in tax trouble or a penalty.

A cashless business is where financial transactions are not conducted with money in the form of physical banknotes, but are done in the form of electronic payments and online banking. Development in electronic payments has enabled cashless business to flourish. For businesses, managing huge amounts of cash can be cumbersome and unsafe whereas cashless options are because of electronic payments and cashless transactions.

Cashless business transactions are done in the form of electronic payments and online banking. Making such transactions are convenient and quick. There are more benefits of going cashless with your business. Cash can be easily stolen as well as can be used to make illegal transactions as there are no records of such transactions. However, with cashless businesses it’s hard to hide income and evade taxes as there’s record of all the transactions being made.

Following the demonetization, digital payment services have been on a rise in India. The central government has been pushing businesses and individuals to rely on a cash-light economy.