Banking Options for Online Rummy

Online Rummy websites offer various payment options which explain the user compatibility of these sites. Providing multiple options may help the players in depositing and withdrawing cash easily. Because of an increase in money transactions, the popularity of online rummy sites is improving and there are multiple registrations every day.

Here we are going to discuss E-Wallets and Net Banking which are the modes of making and receiving payments on RummyPassion.com.

E-wallets

E-wallet is quite different to the wallet you possess in your pocket.  Your pocket wallet is insecure; anyone can steal it. Digital wallet is an electronic transformation of your money. Everything happens online and there are little chances of theft. There are various types of e-wallets popular in Indian ecommerce.

• RuPay Card- This is a substitute for visa and master card in India. It was introduced in 2012 by National Payment Corporation of India with the approval of Reserve Bank of India. Almost all government and non government (banks) organizations allow money transactions through this wallet.
• PayUMoney- This online payment solution was started in the year 2011. You need to have a savings bank account and identity proofs for your PayUMoney account. You can make and receive payments even if your business is not registered. After the documentation, the activation of your wallet is completed within 48 hours.

Advantages of using E-wallets- These wallets are beneficial for the Indians as the transaction details will not pass outside India. There is security as the customer is informed through SMS after every transaction. As the online transaction can be managed with low cost, these wallets are reachable to people residing in rural areas as well.  Their use is possible through mobile technology, ATM, and cheques.

Disadvantages of using these wallets- There are scenarios when you want cash in hand. Wallets convert your money which is not usable everywhere. If you are travelling abroad you cannot use these wallets.

Net Banking- These are the online services provided by the banks to its customers through emails, SMS, ATM’s, Phone banking, online banking and so forth.

Credit/Debit Card- The only difference between a credit card and a debit card is that of borrowing money. Credit card holders can borrow money from the bank on interest basis but with the debit cards cannot do the same. Both credit and debit cards are handy while making online payments. You can purchase goods in the market while using these cards. They are the safest modes of protecting your money. The banks offer their services 24/7 through these debit and credit cards, which is a matter of convenience for the account holders.

Conclusion

All the above mention modes of making online payments are equally good.  The users are registered with the E-wallets and the banks with appropriate KYC documents. There is little chance of a fraud; it happens only if your passwords are stolen. To protect yourself, you should change all your passwords from time to time.