Different Ways You Can Pay Online

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The nature of payments and transactions has transformed significantly over the years. From the simple trade-based barter system used thousands of years ago to the dawn of currency and cash transactions, and to today’s ever-evolving digital currency.

Why waste your time and energy running to an ATM to withdraw cash for your everyday financial transactions in this fast-paced, wholly digital world? Due to technology becoming widely available to the masses, the idea of a cashless economy has become prevalent and convenient. But with so many digital payment options available, how do you pick the right one?

Understanding how online payments work and selecting one based on your requirements go hand-in-hand. Let’s run through a few of the most widely used ways to pay online today:

As part of encouraging cashless transactions, several modes of digital payments are available. Understanding how online payments work and picking which means work for your requirements go hand-in-hand. Here are a few most widely used digital payment approaches that are trending today:




This is one of the most popular ways to pay online. UPI (Unified Payments Interface), is a system through which you can send and receive money from anyone holding any bank account. The facility permits users to seamlessly link more than one bank account on a UPI app on their mobile phones. E-wallets, like Google Pay and Phone Pay to name a few, also allow users to send money without a bank account number or IFSC code. All one needs is a registered mobile number associated with a bank account or a virtual payment address (VPA).



Buy Now Pay Later

Buy Now Pay Later (BNPL)

The concept of BNPL is not a new one, particularly in a country like India. Paying for groceries at the end of the month, using the Khaata system (or a tab)  has been a fairly common practice for years. BNPL is simply a new, digitalised app-based version of the age-old Khaata. This form of payment has been rapidly gaining traction across the country in recent years, especially since BNPL providers also offer instalment based payments, such as Simpl’s Pay-in-3.


Read More: What is Simpl ‘Pay-in-3’?



Mobile wallets

Mobile wallets 

Mobile wallets are here to help you avoid the tiresome practice of entering card information every time during online payments. Now users can effortlessly pay through their mobile wallets instead. These wallets store your bank account, debit/credit card, or bank account info in an encrypted format to permit secure payments. It allows you to make transactions with a single tap, saving time. Some of the frequently used mobile wallet applications are Paytm, Mobikwik, Freecharge, Airtel Money, Oxigen Wallet, and mRupee, among others.



Debit and Credit Cards

Debit and Credit Cards

Banking cards are one of the oldest and most commonly used ways to pay online. They offer a host of various features and benefits, such as secure payments, convenience and rewards. Your bank provides debit cards upon opening a new account, and you can avail of a credit card based on your bank’s criteria. They help you purchase anything at any time with just a swipe or tap. You can shop for all your needs and pay with your card, from your local grocer to leading restaurants and online shopping portals.



Internet Banking

Internet banking 

Going to the bank can often be a struggle, especially when they’re usually closed during your free time. With internet banking, also known as online banking, you can carry out transactions online without visiting the bank in person. This can be done either through your bank’s app or their website. With an internet connection, you can now transfer funds, view your account statement, open a new fixed deposit (FD) or recurring deposit (RD), close an account, etc. Internet banking also supports fund transfers via NEFT, RTGS, or IMPS.



Digital payments are rapidly gaining popularity due to the speed of the payment and the security they offer. We will continue to see the growth of various alternative payment methods, and before the transition settles, several new trends will appear and disappear. With technology taking precedence and improving convenience, online paying options are only set to expand further.

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