Our Situation
When the year 2020 started, nobody thought that this year will not only prove to be a difficult for our physical health, but also for our financial health. The impact of COVID-19 situation in our lives and lifestyles will last for long. While masks and sanitizers have become a new normal, social distancing norm has also restricted the usage of paper currency to make payments for daily essentials such as groceries, utility bills like electricity, water, phone, and loan EMIs.
The Challenge and Risks
With a nationwide lockdown, we heavily relied on the delivery of essential items. While most of us were used to pay in cash for deliveries, going to an ATM/Bank to withdraw money is no longer considered to be a good idea. For some of us who had cash in hand before the lockdown, it was not sufficient to last for such an extended period.
Also, using cash or cheque is being considered a major cause of concern due to the risk of contamination and transmission of the Coronavirus from one person to another.
What should we do?
Digital payment modes, once a convenience have become a necessity helping us to access goods and services while maintaining the social distancing norms. It also helps to take a loan by opting for Direct Debit or pay loan EMIs through Debit Card, Net Banking, UPI or payment wallet
For your loans with Home Credit, you don’t need to worry about withdrawing cash from ATMs/Bank branches and travel to partner shops to pay your monthly instalments. Just tap “Pay Now” button on the home page and pay your instalments with few clicks from the comfort of your homes.
Advantages of using digital payment modes
- Make EMI or bill payments anywhere and anytime
- Practice social distancing thus keeping safe from COVID 19 spread
- Fast and convenient
- Safe, secure and easy to trace
- 24X7 availability from the comfort of your home
- No need carry cash or visit an ATM, further reducing the risk of contamination
Do’s & Don’ts of Digital Payments
- Never share your PIN or OTP with anyone
- Be aware of your transactions, online and offline
- Always ensure that the online payment sites are secured
- Beware of phishing attempts
- Inform the authorities immediately if you spot an unauthorised transaction