India has seen tremendous growth in digital payments. Online transactions have grown high, and more and more customers are following the cashless trend to reduce the weight of bulky wallets from their pockets. Here are some mobile wallets that tweak the list of the best mobile wallets in India.
Trending mobile wallets in India
1.PayTm
It is one of the widest accepted mobile wallets that helps you to make prompt payments. The app was introduced in the market in 2010, and gradually it became the best app in the mobile world.
With this app, the user can make payments to the retailers, book flights, movie tickets, do shopping, invest in stock and mutual funds, recharge your DTH connection, pay the credit card bill, etc.
The mobile wallet company also helps users transfer the money directly to their friend’s bank account at a low charge. The process is known as Immediate Payment Service. It is a secured platform to store money and make quick payments.
2.Google Pay
Earlier named Tez, Google Pay is scaling the mobile wallet ecosystem base to a new high. It is one of the top online payment systems to send money to friends, pay utility bills, recharge your account and transfer the money to the bank account.
The best part is that you don’t need to recharge your mobile wallet every month to keep it afloat. The wallet is tied up with your bank account, which means the money stored is safe. You don’t need to fill up any additional KYC forms to get started.
The app also offers you buy-back rewards, scratch cards, and when you make the payments. All these features contribute to its popularity.
3.MobiKwik
It is an independent mobile wallet platform that helps users make payments for mobile recharges, data cards, utility bills, piped gas, insurance, credit card, landline, etc.
The digital wallet is one of the competitive players in the market that helps you store money and helps you with wealth management and credit facilities.
You can opt for mutual funds, instant loans, money transfers, and other services too. It provides you assistance to select the right mutual funds and helps you to build a strong investment portfolio.
The mobile wallet also allows you a credit of Rs 30,000 at a zero cost, thus helping you manage the cash crunch situation. It is available on both Android and Ios.
There is a record option in this app that stores the information about your purchase. Additionally, the app comes with UPI-based payment, which means you can directly transfer the fund to the bank account holder. The account needs to be KYC verified to leverage the benefits.
4.Phone Pe
This online payment started its journey in 2015, and in 2016, it was acquired by giant e-commerce seller Flipkart. The app is popular for the seamless interface that it offers to the users.
It helps the users to do online recharges, money transfer, make online payments, etc. It is one of the fastest and reliable apps that offers an utmost experience to the user.
With this digital wallet, you can send and receive money through the UPI method. You will also get an opportunity to split the bills with your friends and other family members, which is impossible in PayTm or other mobile wallets.
The wallet helps the users to connect with various bank accounts like savings, current. The distinguishable feature of the app is it provides excellent protection to the users; you can make payments for municipal tax, insurance and buy gold with this wallet. Also, you can win money and rewards using a QR code.
5.Freecharge
It is yet another popular mobile wallet app that has revolutionized digital payment systems in India. This wallet is targeted towards teens and offers discounts on data recharge.
It is an excellent app to store money and get rewarded. The company was established in 2010 and was originally offering mobile recharges, and slowly it transformed its business.
Every time the mobile user makes the payment through it, he gets amazing discount reduction coupons. Snapdeal acquired the company; however, it sold it to save its cash reserves. However, the wallet helps you pay the electricity bills, make mobile recharges, do DTH recharge, etc.
You can also join debit and credit cards with this payment program. It is available both on Android, Windows phone, and ios. It can be used to make both online and offline payments.
Various shopping junctions like Hypercity accept it, fast food joints like Mc Donalds, entertainment centers like Cinepolis, Shoppers stop, Crosswords, and much more.
Wrapping it up
With an intent to make India a cashless society, many companies have launched mobile wallet apps.
However, only certain apps have been able to catch people’s attention due to their features like instant payments, security, cashback, discounts, and rewards.
We have mentioned the best among them. Each mobile wallet comes with its own set of features. So, choose it wisely and start heading towards Cashless and contact less Digital Payment Solutions.
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