06 June, 2023
Online payment methods can offer many advantages. However, they also pose some disruptions. Technical issues, such as server downtime, slow connectivity, software bugs, etc., can disrupt online payment transactions and cause inconvenience to users. They also have a limited reach. Not all users in India have access to the internet, making it difficult for them to use online payment systems. This is why an offline payment system is the need of the hour.
The HDFC Bank has launched a new OfflinePay facility that enables customers and merchants to carry out transactions even when they lack access to the internet. Find out more about this service and why you should opt for it.
What is OfflinePay?
OfflinePay is an on-device offline wallet. It allows you to add funds to the wallet and use them to pay for goods and services in an offline mode. Customers and merchants can use it to send and receive funds from their phones when either or both of them are offline.
How can customers benefit from OfflinePay?
Here are some benefits of using the app that can help customers:
Wide usage:The offline wallet has the potential to surpass the outreach of digital payment systems like Unified Payments Interface (UPI), Debit Cards, Credit Cards, NetBanking, etc., as it caters to a broader group of customers. The wallet offers utility and ease to rural areas where the internet may still not be present in all areas.
Increased convenience:The wallet can be downloaded on a mobile phone and used anytime and anywhere to allow customers convenience. It is similar to a mobile payment app or mobile banking, except for the fact that it offers an offline mode.
Suitable for urban areas: Apart from rural areas and small cities, the offline wallet can also be used in some establishments in urban areas. For instance, malls may experience poor connectivity, posing a problem for customers. Parking lots and underground floors may also lack connectivity. Customers can depend on the offline wallet to make payments in these areas.
Ideal for high-density areas:High-density areas, such as concerts, sports arenas, markets, etc., may experience network clogging. Customers can rely on the offline wallet at these times.
Ease in travel:The OfflinePay app can be used when in transit, such as in trains, ferries, aeroplanes, etc. The app ensures that customers are never out of options to make payments and do not have to carry around cash.
Helpful in emergencies:The offline payment system can also be beneficial if the bank’s online payment mode is down due to maintenance or failure. Natural disasters like floods, earthquakes, etc., can also disrupt services at times. The offline mode can be used in any of these situations.
How can merchants benefit from OfflinePay?
Here are some benefits of using the app that can help merchants:
Broad customer reach: Merchants can appeal to a wider customer base by offering additional offline payment modes for greater ease. They can now attract customers who may like to make the payment through their phones but do not have an internet connection.
Undisrupted sales:Many a time, merchants may have to let go of a sale due to server issues or maintenance. These issues can now be eliminated.
Secure payments:The offline payment system offers a safe and trusted payment method to help merchants and businesses carry out their daily sales without any hassles.
Empowering merchants:With a special focus and benefit on the rural and smaller towns of the country, merchants can set up businesses and experience contactless payments even in the remotest corners of the country. This is likely going to help people be financially secure and contribute to making India a truly digital economy.
Offline payments have been a trusted and reliable mode of payment for both customers and merchants. Despite the convenience and speed offered by online payment systems, offline payments have several benefits that make them a better option for many individuals and businesses. Offline wallets such as OfflinePay provide greater security, control, and privacy while also reducing the risk of fraud and technical issues.
Offline payments also offer greater accessibility to those who do not have access to the internet. With these benefits, it is not surprising that many customers and merchants still prefer to use offline payment, click here to learn more about offline pay wallet and locate your closest merchant that offers this.
Read more about the steps to loading money to an offline wallet here.
*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circ*mstances.
