Currently, credit cards have fortified their prevalence in the digital spectrum and, ever since, have become an indispensable part of our lives. The impeccable command, convenience, and unparalleled pack-back options enable its users to enjoy exceptional consumer services and user interface. Now the brick-and-mortar system has completely vanished. The sudden outbreak of COVID-19 has taught us the significance of virtual cash payments and seamless online transactions.
Crux About Credit Card Bill Payment and its Benefits
A credit card is conceived as a plastic or metallic component issued by the various banking financing, servicing, and insurance (BFSI) institutions. The main agenda of these cards is to enable the user to borrow funds to pay the bills, services, and products obtained from merchants. The credit card further aids consumers in purchasing several services aligned in a row without investing immediate money in the sale. As an alternative, an individual can pay on a monthly billing cycle for charges accrued as of the balance. Since there is higher penetration of electronic gadgets, users can easily facilitate online credit card payment from their smartphones and desktops. Lastly, the credit card bill payment option includes various ways to pay the bill like NEFT, Auto Debit, UPI, RTGS, and IMPS.
- Convenience is one of the key factors fueling credit card utilization across the globe. You can pay any amount with a single swipe. There is no requirement to indulge in check writing and amount tracking procedures after taking some time out of your hectic life schedule. Well, now you can also link your card with a digital wallet. Secondly, you are free to set and make any recurring transactions, such as phone, electricity, and gas bills. Now you will never cross your due date, which led you to pay unnecessary penalties due to disconnection or other unforeseen scenarios in the past.
- Security is the key parameter that should be considered, and Axis Bank credit card payment services ensure that. When you drop your money somewhere, there are higher chances of uncertainty and pocket-picking, but if you left or lost your credit card, you will be notified by the bank for replacement.
- Last but not least, you receive extra bonuses and advantages after receiving your credit card. For example, if you possess any eminent bank credit card, you might receive burglary protection, accidental death cover, and many more benefits. Further, you might get insurance also by just having minimum spending needs.
Various Credit Card Bill Payment Methods
- Internet Banking is an unmatchable mode to pay credit card bills effectively and efficiently without facing any hitches. So, if you have your bank account in any prominent bank, you have to register your credit card to deploy a net banking facility. Then you are eligible to pay your bills directly. If you don’t have a bank account, it is highly recommended to approach your bank account issuers and ask them to create and equip you with an online banking account.
- NEFT stands for National Electronic Fund Transfer, enabling users to transact bills via a net banking account. You have to incorporate several beneficiary credit card account details for transferring money, such as bank name, account number, IFSC code, credit card number, cardholder name, branch details, and many more. The additional procedure of the beneficiary might normally complete within 30 minutes, but some banks take 24 hours.
- UPI refers to a specially designed interface or system that can hold several bank accounts on a single smartphone application. It allows integration of various banking additional features, business transactions on a single platform, and smooth fund routing. In line with this, it also encourages peer-to-peer accumulation, organized and paid as per your urge and expediency. It is one of the safest ways of credit card bill payment.
- IMPS Firstly, you should register/log in to the mobile banking application by enrolling in credentials. Then select the bank account. After selecting the account, an individual will directly land on the IMPS tab then select the merchant payment option. Other than this, enter necessary essential credentials to get debited. Then you are free to choose a credit card number under its reference and pay the amount as per your preferences. Lastly, confirm your transaction.