The digital user is quick, observant, and constantly on the move. They’re always online and eager to try out new things on the shelves. When it comes to banking, they prefer it to be quick and easy. They are always willing to keep up with the current developments that make banking easier in a digital environment that is always evolving. The same thing happened when Internet Banking and Mobile Banking were introduced. Banking has been much simpler, easier, and more convenient as a result of it.
What began with cashless purchases using credit and debit cards has now progressed to a whole new level thanks to mobile apps and Internet banking. Swiping a card at a store used to be a major leap of faith, but today everything is on your screen. Personal, up close and personal. You buy online and pay for your purchases online. You purchase movie tickets and pay for them both online. Every modest transaction can be completed without physically approaching a merchant or exchanging money. While some swear by Internet banking, others prefer to bank using their mobile apps. However, what is the distinction between Internet Banking and Mobile Banking?
First and foremost, let’s get this over with. It all began with online banking. Mobile banking is a relatively new entrant into the digital banking world. When Internet Banking first became popular, it seemed to be the go-to option for all transactions. Never before has a customer been able to check his or her account balance and make transactions from the comfort of their own home. All you need is your customer ID, and everything else will fall into place. Everything is part of Internet banking, from making credit card payments to setting up mutual fund and loan payback debits. If you needed to buy something, you could make a payment online right away and your transaction would be completed. There is no need to wait and no need to check if you have any cash in your wallet. Your login credentials were all you needed.
When you’re on the go, you’ll appreciate the convenience of mobile banking. Your mobile app is the answer to all your banking demands if you don’t have access to a laptop or computer. Whether it’s a phone recharge or a fund transfer, a mobile app can handle all of your basic utility bill payments, which used to require multiple trips. Mobile banking allows you to do business regardless of where you are or what time it is. Your smartphone app is always helpful, whether you’re commuting or waiting at the airport! You can also add beneficiary payees and locate ATMs. All of this, and more, adds to your user convenience.
The two sides of the same coin are Mobile Banking and Internet Banking. The screens have changed, the sizes have shrunk, and banking has become more straightforward. If you opt to participate, be sure to open a new online banking Malaysia account.