More Options To Fund Your Organisation NotchHR Account
What is an E-Wallet?
The E-Wallet is exactly what it sounds like: an electronic wallet. It is a pre-paid account, in which a user stores his/her money to be used for online transactions. The E-Wallet is quite similar to that of a credit or debit card, as they are encrypted by a passcode and need to be linked with the individual’s bank account to make payments.
With the help of an E-wallet, Users can easily make payments for utility bills, online purchases, and flight tickets, to mention but a few, via their mobile devices.
But what does it mean to own a NotchHR E-Wallet?
First, let’s use an example.
As an admin, imagine after setting up a NotchHR Account for your organisation. You discover there’s a funding hurdle and you don’t have a debit card or a means to transfer directly. Thankfully, with NotchHR E-Wallet, that’s no problem! The wallet helps you fund your account without a debit card. Great right? but there’s more.
With a NotchHR E-Wallet, you’ll be able to:
- View your account balance
- Access transaction history
- Pay Employees’ salaries through the wallet
- Transfer from Bank to wallet
- Make deposits or withdrawals wherever and whenever you want
It’s great because:
It’s customised for you
No two wallets are the same. You can feel rest assured that your wallet was built to perfectly suit you. As an added bonus, your account number is yours for life! Meaning, you will not have to worry about it being reallocated to someone else.
It makes your payroll process easier
With the ease of access and versatility of E-Wallet, payrolls can be completed anywhere, and from any device, as long as you give your full authorization. It even allows you to be able to perform same-day salary payments!
Convenience
Mobile wallets enable transactions to be completed instantly. With a few taps here and a few clicks there, you’re done. No more waiting in long lines or going to the ATM to withdraw cash. There’s nothing more satisfying than paying your bills quickly and conveniently.
Easy & quick
When you use a mobile wallet, you don’t need to keep entering your card number, expiry date, CVV code etc. every time you make a payment. Once you enter your details, they are stored, and with a click, your payment goes through. It’s that easy!
Easily accessible
With all your card details in one place, your daily transactions become easier to process. Plus, your phone is always easily accessible, meaning all your cards are as well!
Never miss a payment
With your hectic and erratic schedules, you may tend to forget the date on which your bills are due. The e-wallet will come to the rescue in such times. Set up autopay and the app will automatically pay your bills on the specified date. This lets you go about your days hassle-free.
Security
Your physical wallet can be stolen, but your mobile wallet cannot. Even if you lose your phone, your mobile wallet has strong security settings that ensure only you can access it. So, no one can just reach in and grab your debit card. Moreover, when data is transmitted via a mobile wallet for making payments, the account number isn’t communicated. Instead, encrypted payment codes are used to ensure security.
Contactless Payment
Contactless payments have started to grow in popularity over the last few years―especially with the recent pandemic―and many people want the ability to pay without contact. Using a digital wallet gives you the ability to make contactless payments, even if you don’t have a contactless card. In fact, using your digital wallet is exactly the same as paying with a contactless card. Using a digital wallet is also faster than paying with a card. Simply pull out your phone and use touch or Face ID to confirm the payment. No more fumbling to find the right card and typing in your pin. Your digital wallet truly makes checkout stress-free, contact-free and, most importantly, germ-free.
Low Costs
Employing the use of digital wallets removes the need for intermediaries, in a variety of forms. The removal of intermediaries greatly reduces operational costs making it cheap and more cost effective than traditional payment methods.
NotchHR E-Wallet is however not a replacement for your bank accounts. It is simply a versatile attachment that makes accessing your funds much easier than before.
But really, why should you use NotchHR E-Wallet?
With this new update, you can view full transaction details from your NotchHR E-Wallet. Nothing is hidden anymore. Unlike the older methods where you have to either use your debit card or make direct transfers, all these features are easily accessible from your mobile phone.
How to get your unique Account number?
This is very simple. Every employer who signs up, or has signed up on NotchHR, automatically has a wallet account.
You can find it on the dashboard and the payroll creation page. If you need to top up, all you need to do is make a transfer into the wallet account and voilà, the wallet is funded.
That’s it! You have successfully used a NotchHR E-Wallet.
