The demonetization of Rs. 500 and Rs. 1,000 notes has lead to long queues in front of banks and ATMs. No one likes to stand in queues and that's why we've come up with a few ways for you to go cashless untill everything settles down. With a smartphone, internet connection and a bank account you not only avoid queues, but also save time.
e-Wallets
Currently, the most efficient way to transfer money or to buy stuff seems to be via e-wallets and there are plenty to choose from. Funds can be transferred to these wallets via your account. The e-wallet can then be used to buy stuff, pay bills, book tickets and more, provided the service provider accepts payment via the that particular e-wallet.
Apps to consider:
Paytm, Freecharge, Mobikwik, Oxigen etc.
Food
With Rs. 500 and Rs. 1,000 notes scrapped, dining at your favourite restaurant might not be something you’ll be thinking of at the moment. Thankfully, you can order food online via many of the apps there are available and pay via your debit or credit card. You can also avail some discounts by ordering food via these services. Some restaurants have started accepting payments via digital wallets.
Apps to consider:
Zomato, Swiggy, Fasos, Foodpanda, etc
Groceries
Besides payments via credit or debit cards, almost all major grocery shops are also taking payments via digital wallets. Further, you can order groceries online via apps like Grofers, Big Basket,etc. Even Mother Dairy are now taking payments via Paytm.
Apps to consider:
Grofers, Big Basket, etc
Shopping
After the ban, You'll either have to hunt for a vendor that accepts payment via credit/debit cards, or e-wallets. Although, you might as well place an order via online shopping portals. Many such portals have even stopped offering an option for Cash on Delivery.
Apps to consider:
Flipkart, Amazon, Snapdeal, etc
Travel
Almost, all major travel services are taking payments via both money transfers and e-wallets. You can also book cabs, bus seats, train and plane tickets, as well as hotel rooms without the use of physical money. You can choose from a number of applications and services which will help you move around. For people who want currency exchanged, you might want to check out CurrencyKart
Apps to consider:
Uber, Ola, Redbus, Makemytrip and more
UPI
Unified Payment Interface (UPI) is an easier method to transfer money between bank accounts using smartphones. Developed by NPCI ,this interface uses an advanced version of Immediate Payment Service (IMPS), which allows users to transfer money to any bank account. Around 21 banks have already joined the program, with more on the way.
Apps to consider:
PhonePe, Trupay, PNB UPI, etc
Conventional methods
Your debit and credit cards are still the most reliable methods to make purchases and payments. For large money transfers you can always rely on net banking.