Using credit cards provides a smart way of benefiting from various offers, cashback and collecting air miles. They allow you a lead time of 45 days in making payments without any extra charge - thus helping you to manage your liquidity better.
However, the catch is, that you need to make your bill payments on time to ensure that you are not charged any interest or late payment fees.
Now, if it were just one credit card you were using, it would be easy to remember the billing cycle and make the payments on time. But these days, most of us have multiple credit cards - each providing different types of benefits. With one, you get 5% cashback on online shopping platforms, and on the other, you can collect air miles. Some cards come with excellent lounge facilities, and others allow you a higher credit limit on all sorts of payments. Having all these, however, means you have to track each billing cycle and make timely bill payments individually.
Use a Credit Card bill payment app to simplify your life and manage your finances better. The Shriram One App offers credit card payment services so that you can always keep track of due dates, stay on top of payments and maintain a healthy credit score. Download the Shriram One App now.
Key Highlights
- Credit Card Bill payment apps simplify the payment process by storing all credit card information in one place, allowing you to select the card, enter a password and OTP and complete a transaction without looking at the actual card.
- The apps also come with bill payment reminders, credit score improvement pro tips and other offers.
- However, it is essential to use these apps securely to avoid becoming a victim of financial fraud.
- By choosing apps with adequate security certifications, using private devices and networks for financial transactions and using dual authentication, you can greatly minimise the chances of cyber-financial crime.
How to Pay Credit Card Bills on Shriram One?
At Shriram Finance, we understand the importance of managing your credit card bill payments efficiently. You can easily pay your credit card bills online in a secure and hassle-free manner. Our credit card bill payment app offers a seamless experience that allows you to access all your bills and payments in one place, ensuring speed, ease, security, and convenience.
To pay your credit card bills on the Shriram One app, you need to follow this simple step-by-step guide:
- Login to the Shriram One app.
- Go to "Bill Payments and Services."
- Choose “Credit Card Bill Payment” under the category "Financial Services & Taxes."
- Choose the Biller, enter your Mobile number, Credit Card details and click "Continue."
- Review the details and click "Pay."
- Select your preferred payment method, enter the required details, and complete the payment.
Store Credit Card Information
An app for credit card payments allows you to enter and store credit card information. This means you don't have to go rummaging into your pocket to enter your card details every time you need to use it for payment.
Manage Multiple Cards
Further still, the app can store all your credit card information in one place. So when you need to make a payment, you select the card you want to use, enter an OTP, and the payment is done! It just needs a few taps on your phone!
Track Bill Payments
The credit card bill payment app retrieves the billing cycle information and helps you track your bill payments. This is done through timely reminders to pay your due bills. They also simplify the bill payment process by allowing you to log into a single app for all your credit cards rather than logging in to different credit card apps for different cards, which require entering multiple usernames and passwords.
Track and Improve Credit Score
An app for credit card payments may also help you track your credit score periodically. Some apps share tips with users to improve their credit scores using simple money management tasks.
Spend Analysis
Many credit card bill payment apps share a spend analysis report of your transactions. This is a good way to take a look at your spending habits and discipline yourself in case there is a need to. You can manage your budget better using this analysis.
Cashbacks and Offers
Many credit card bill payment apps offer cashback and gift vouchers. These offers are an additional benefit over and above the comfort of payment facilitation and other financial services.
As you can see for yourself, using an app for credit card payments simplifies your life to a great extent. They enable you to utilise all your credit cards effectively without incurring any unwanted penalties. They come with a host of additional features, allowing you to manage your finances in a more informed and disciplined way.
However, these apps hold sensitive information users use for making payments from their credit accounts. Therefore, you need to use these apps securely to avoid becoming a victim of financial fraud. Let's look at some of the tips that you must keep in mind while choosing the best app to pay credit card bills.
Choose Apps with Certified Security Features
The best apps for credit card payments comply with Payment Card Industry(PCI) Data Security Standards(DSS). These standards are laid out to ensure that the app is protected by basic security features such as encrypted transmission and firewalls to prevent your sensitive data from being hacked.
Prefer Dual Authentication of Payments
While credit card bill payment apps allow to bypass dual authentication by giving certain permissions, it is always more secure not to do so. This means, that even if someone succeeds in making a transaction using your details, the transaction cannot be completed unless your OTP is not hacked as well. This gives you an extra layer of protection.
Avoid App Usage on Public Networks or Public Devices
Do not make credit card payments by opening these apps on public computers or using public Wi-Fi. It is always safer to use these apps on private devices on a personal network such as your home's Wi-Fi.
Never Share your Bill Payment App's Username and Password
No customer service ever asks for your passwords. So if you get any call/text asking for the same, ensure you decline the call and block the senders.
To Sum It Up
The best credit card bill payment apps have features that make credit card management very convenient for you. They come with built-in security features and other benefits that add value to your financial actions. You must pick the best app for credit card payment after a careful look at its security features. Also, the best credit card bill payment app for you would be the one that meets your specific needs.
For example, while some people might want to utilise the features of budget management and payment reminders, others might want to use a payment gateway for multiple credit cards. Shriram One is one such app offered by trusted NBFC Shriram Finance. The app is a one-stop solution to all your payment and financial needs.
Not only can you make credit card and other bill payments, but you can also use the same app for purchasing investment and insurance products. So, download the app that meets your expectations and use the same cautiously. You will see how the credit card bill payment app has simplified your life tremendously!
FAQs
How do credit card bill payment apps simplify the payment process?
The credit card bill payment apps simplify the payment process by:
- Enabling you to store the credit card details thus saving you time from re-entering them.
- Storing multiple credit card details in one place.
- Tracking billing cycles and sending reminders for due payments.
- Sharing spend analysis and other reports which allows you to budget your transactions better.
- Giving offers such as discounts and cashback on some transactions.
What are the advantages of using credit card bill payment apps?
Some of the advantages of using credit card bill payment apps are:
- Quick and convenient credit card bill payment process.
- Secure payments if your bill payment app is certified and you take basic security measures.
- Cashback and discounts, such as free delivery of groceries, free subscriptions, etc.
What security measures do credit card bill payment apps offer?
Credit card bill payment apps usually come with the following security measures:
- Encryption of transmitted data - Two protocols are currently being used by most payment apps - Security Service Layer (SSL) or Transport Layer Security (TLS). If an app is certified by any of these, its transmitted information cannot be easily hacked into.
- All vendors carrying financial information should be certified by the Payment Card Industry Security Standards Council (PCI SSC). Since credit card bill payment apps also store a lot of credit card information, these apps should also be certified.
- Multifactor authentication - Most bill payment apps require dual authentication. This means that even after entering the password, a code is sent to your phone number or email ID. This means, that if by chance someone acquires your password, they will also need access to your email/phone to complete the transaction.
