Are you doing a job in the UK and want to send money to India? A digital payment world society appears to be on the horizon, which is good news for India. Digital payment systems and gateways, which are among our national priorities, will usher in Digital India 2.0 and turn the country into one of the world’s most digitized economies. India saw a massive shift towards online transactions, fueled by the unfortunate COVID-19 pandemic. This aligns with Prime Minister Narendra Modi’s vision of a Digital India. Now is the best time to create a strong economy by implementing healthy, stable, and affordable digital payment solutions.
The Reserve Bank of India announced steps to secure online money transfer channels through the proposed Digital Payment Security Controls Directions, giving the government’s Digital India initiative a push. The proposed Digital Payment Security Controls Directions focus on making India a less cash-based society while also making it safer.
Why Are Mobile Apps Most Convenient And Secure Way For Online Money Transfer To Abroad?
For a range of services, people are increasingly dependent on mobile devices. When Apple released its first iPhone in 2007, no one had ever heard of an app. In the intervening approximately 15 years, the App Store has grown to nearly four million downloads. 1st It’s difficult to imagine a smartphone without apps; they can be used for anything from ordering food to learning a new language or even for online money transfer to India and any other country. They also have hours of fun, as games make up nearly a quarter of all apps.
Mobile devices help people send and receive money, which is one way they facilitate financial services. According to the GSMA‘s latest State of the Industry report on Mobile Money, 866 million mobile banking accounts were registered across 90 countries in 2020. Per day, they handled an average of £1 billion.
Expats would find it much easier to send money to India online for their loved ones using mobile payment services because the process is quicker and more secure.
What Is Most Recommended And Popular App For International Money Transfers?
The ACE money transfer app has grown in popularity to the point that the noun has been shortened to ACE. More than just “ACE Money Transfer,” this app makes sending and receiving the money to and from family and friends extremely simple. Payments made through the ace mobile app to most debit cards or a bank account are fee-free, and ACE allows fee-free transactions for all types of transactions. You won’t have to worry about shady hackers getting their hands on your account records because it has a bank-grade security system.
The agency also provides an ACE E-Wallet, which allows you to use your ACE money transfer app anywhere in the UK that accepts credit and debit cards and receives money direct in your mobile e-wallet and receive cashback rewards on money transfer to India and elsewhere.