Digital payments have surged dramatically since the pandemic. According to data from the Reserve Bank of India (RBI), debit cards became the preferred payment method, with 69.6 million cards issued between April 2020 and March 2021. However, cash remains essential for many small transactions, particularly for merchants like flea markets and street vendors who do not accept card payments.
But what if a business accepts both cash and card payments? Which option is better? Here are some scenarios where using a debit card is advantageous over cash:
Debit Cards often make you eligible for deals when you shop. They can be in the form of CashBack or Reward Points. More expensive items will make you eligible for more reward points. This is not an option when paying directly by cash. Besides, stores dealing in expensive items usually have tie-ups with Debit Cards from major banks, so they sweeten the deal further with more perks.
Most movie screenings happen in theaters today and plays usually feature a singular company or troupe. One can avail of many deals by using a Debit Card to book tickets for these events. For instance, HDFC Bank Debit Card offers a great Saturday deal – buy one ticket on the card and get another free!
Everyday grocery items can be bought with cash from the local store, but when making bulk purchases that cost over Rs 2000, it is advisable to use a Debit Card. Banks and stores start offering deals and offers at such a level of spending. Some big supermarkets give discounts of up to 10% on grocery purchases on select days if you pay with your HDFC Bank Debit Card.
It is advisable to use a Debit Card to purchase airline/railway tickets and to book hotel accommodations as the kickback received is no small amount. Besides, airlines offer many discounts and perks for regular customers, and the most obvious way they establish your loyalty is by checking how many times you have paid them using the same Debit Card. So, in this case, it pays to use a Debit Card, not cash.
This should be a no-brainer. Online vendors wish to retain customers and always seek ways to reward them. If you make purchases on a Debit Card it allows them to make a quick inventory of the purchases you have made over time and are more likely to offer you incentives and discounts. Banks favour this too and will often give cashback and other offers if you use their Debit Card to make purchases.
In addition to all the above instances, using a Debit Card for any type of payment right now with the pandemic is prudent. It helps minimise contact and the risk of contracting the virus. It is safer than handling cash because there is no exchange of change.
If you own an HDFC Bank Visa Contactless Debit Card, your payments are even more secure. There's no need to swipe your card or enter a PIN; you tap it on the machine, and your payment is completed instantly. Additionally, the Reserve Bank of India has recently increased the limit for contactless transactions from ₹2,000 to ₹5,000 for UPI or recurring payments, enhancing convenience even further. The HDFC Visa Contactless Debit Card is ideal for safe and seamless transactions, especially when social distancing is essential.
Read more about the different types of Debit Cards available in India.
Applying for an HDFC Bank Debit Card is as easy as a single click. New customers can get a new Debit Card by opening a new Savings Account while experiencing hassle-free banking with HDFC Bank. Existing HDFC Bank customers can get their Debit Card reissued within minutes here. Thanks to our Cardless Cash service, you can get instant cash at an HDFC Bank ATM without needing a physical card – the power of 24X7 uninterrupted shopping is now in your hands.