Advancements in technology have played a major part in the way we make transactions across the world. Digital wallets and money transfer apps are easier to use and are considered safer than a traditional wallet. These online modes of payment typically require you to download the payment app on your smartphone. Once your digital wallet is set up on your smart device, all you need to do is learn to make payments online. Read on to know more about digital wallets and why you might want to adopt one.
Why do you need a Digital Wallet?
Digital wallets allow you to store funds, make transactions and track payment histories on your smart device. These wallets do not require a bank account or a branch. You can straightaway make payments as well as receive funds digitally. Airtel money allows you to store cash on your phone. Eliminating the need for a physical wallet, you can spend money from your digital wallet both in-store and with online merchants.
What is Airtel Money?
Airtel Money is a digital wallet by Airtel Payments Bank through which you can make payments using the My Airtel App or USSD (Unstructured Supplementary Service Data). You can use your mobile number as an electronic wallet that can be funded and used to make payments for goods and services. The digital wallet also allows you to withdraw cash to make the payment. Airtel has different types of wallets that cater to different sets of users, they are as follows:
Minimum KYC Wallets
- The KYC wallet can be activated with basic details such as name, date of birth, mobile number, etc.
- You can easily engage in credit/debit transactions
- The minimum KYC wallet is valid for a tenure of two years
- A limit of ₹9,000 is available on the wallet to make payments for recharges, utility bills and more
- Non-Airtel network users can access the Airtel Money wallet
Full KYC Wallets
- You can easily engage in credit/debit transactions with the wallet
- The full KYC wallet allows you to shop using a prepaid card linked to the wallet
- Get access to exciting discounts and cashback on movies, travel tickets, shopping, etc.
- A limit of ₹99,000 is available on the wallet
- Even if you shop offline, you can make payment using the Airtel Money Wallet.
How to Set Up your Airtel Wallet?
The following are the steps to set up your Airtel Money Wallet to make secure payments online.
Step1: Visit the ‘Airtel Payment’ page or open the ‘Airtel App’ on your mobile
Step2: Click on ‘Add Money’ and log in to your account with your registered mobile number and MPIN (Mobile Personal Identification Number).
Step3: Tap on ‘Login Securely’ to log in to your account
Step4: Select ‘Add Money’ and enter the amount and confirm it
Step5: Choose any payment option from Debit Card, Credit Card and Net Banking
Step6: Provide the details of your selected payment options and confirm them
Step7: You will receive an OTP on your registered mobile number, enter the OTP on the required section and confirm it
Step8: On completion of the process, you will get the details of your transaction on your registered mobile number
Digital Wallets have made it easier for us to make payments online. You can hold your smart device over a point-of-sale system and make a contactless payment. With Airtel money, you can make cashless payments at restaurants, buy groceries, make recharges and bill payments swiftly. The digital wallet does not require an internet connection. You can make payments instantly, irrespective of where you are and save time in making payments via the app.
