PayWiz is a Unified Payments Interface (UPI) Mobile Application that has been developed to make the life of an IDBI customer easier. It can be a real hassle to carry a large amount of money in hand when you do decide to go shopping, to clear any bills at merchant payment platforms or at Point of Sale (POS) terminals. This app provides a helping hand to customers to help them to go cashless. PayWiz can be downloaded from the Google Play Store and can be used by anyone.
Registration for the App
There are certain steps that we will have to follow when registering for the PayWiz app:
- You will have to visit “Google Play Store” and download the PayWiz app on your smartphone device.
- Once you have completed the download process for the app, you will then have to select a specific language of your choice (Only English is provided as an option for now but the company is working on integrating Hindi as well). Once this is done, you will have to click on the “Sign” option which appears on the next screen. The application on your phone will then send out an SMS which consists of encrypted data for security purposes.
- Select the mobile number that you wish to register (in the case of dual SIM phones). Once this is done, you will have to ensure that the mobile number that you have selected has been registered to your account in the bank’s records.
- You will then have to create your Virtual Payment Address (VPA) which will become your default VPA. Set the login password to your account. This login password should either be 4 or 6 digits in length. After this, you will have to read and accept the “Terms and Conditions” document by clicking on the “Next” option to start using the app. Select a security question and provide an answer for it. Keep in mind that this security question has to be answered by you in case you have forgotten your password. The security question is asked to ensure that your account is not used by anyone else but by you alone in case your mobile phone is stolen.
Features of PayWiz
- Transfer Money: An individual can now transfer money from one account to another by using the account number along with the IFSC code, by using a VPA or by even using the QR code of the beneficiary. The transaction limit or pre-transaction cap is Rs.1 lakh.
- Linkage of Multiple Bank Accounts: An individual can link multiple bank accounts that they have with IDBI Bank as well as with other banks that are participating in UPI. These accounts can be accessed at any time to either withdraw money or make a deposit.
- Merchant Payments: An individual can clear any number of payments or bills with merchants using the PayWiz app with the help of the latest QR Code technology.
- Gather Money: An individual can send a reminder or request to the contacts on their list to collect any money or to clear any bills that are due.
- Easy access anytime, anywhere: Customers can gain access to their accounts at anytime and place. Customers can also use the app on their smartphone. This service does not cease and will continues to function on public and bank holidays as well.
- Secured Payments: Customers do not have to worry about the safety of information related to their account or their transactions. Payments are easy to make with a single click. PayWiz has been certified by the NPCI and this application adheres to the safety and security guidelines that have been established by the NPCI.
- Track your Transactions: A customer can track their transactions that have been carried out using the app. A customer can also raise an inquiry into any disputes or suspected irregular transactions that have been made.
In summary, the PayWiz app by IDBI Bank proves time and again that going cashless can be a lot more convenient by using this app to make any transaction that you desire. The app is easy to download and register and is easy to use. You will also ensure the safety of your hard earned money by minimizing the amount of money that you carry around. PayWiz can be downloaded easily from the “Google Play Store” app by a customer of IDBI or any other individual who intends on taking the cashless route.