Digital payments have become a common way to pay at shops and transfer money. Apart from UPI, users have several other options, including Digital Rupee, contactless card payments, mobile wallets and bank transfers.
These methods can be useful for people looking for alternatives to regular UPI payments.
Pay Using Digital Rupee
The Digital Rupee is the digital form of currency issued by the Reserve Bank of India. It can be stored in a mobile wallet and used for digital payments.
Unlike a private cryptocurrency, the Digital Rupee is legal tender issued by the RBI. It can also be used by scanning a QR code.
The payment works through a digital wallet rather than a normal bank-to-bank transfer. According to the information provided, Digital Rupee payments are free for customers and merchants.
To use it, users need to download and activate the Digital Rupee app provided by their bank and maintain funds in the wallet.
Use Contactless Card Payments
Debit and credit cards with NFC support can be used to make contactless payments. Users simply need to tap the card on a compatible POS machine instead of inserting or swiping it.
Contactless card payments can be convenient for everyday purchases. The information provided states that payments of up to ₹5,000 can be made using this method.
Users can also make UPI payments through eligible credit cards where supported. The information provided states that UPI payments linked to credit cards are exempt from merchant discount rate charges.
Save Your Card on a Phone or Watch
Another option is to add an eligible debit or credit card to a supported digital wallet. Samsung Wallet and Google Wallet allow supported cards to be stored digitally.
Once the card is added, users can make contactless payments by tapping their phone on a compatible POS machine. This means there is no need to carry the physical card for every payment.
Smartwatches with payment support can also be used in a similar way. The information provided mentions payment support on Samsung Watches and says Apple Wallet support on Apple Watch is expected by the end of the year.
IMPS and NEFT for Bank Transfers
IMPS and NEFT are other digital payment options, especially when making larger bank transfers. Unlike a QR-based UPI payment, these methods require details such as the recipient’s bank account number and IFSC code.
They may not be as simple as UPI for everyday shop payments, but they remain useful when a direct bank transfer is required.
Before choosing any payment method, users should check the applicable limits, availability and charges with their bank or payment provider.