Babaria Media - List of top 7 mobile wallets in India to go Cashless

List of top 7 mobile wallets in India to go Cashless

 

Demonetization has led the of e wallet industry towards a new path. Ever since it happened many e-wallets came into limelight and are doing a good business.

India is now moving towards cashless days. In today’s time, many people are relying on mobile wallets to make everyday purchases and for other finance related transactions.
The mobile wallets in India are easily making their place in the lives of a common man owing to its hassle-free usage and easy substitute to the cash along with debit/credit cards. It allows you to make purchase without getting involved into the cash matters.

Now you must be thinking why not to use the internet and make online transactions using the cards. The foremost difficulty that you face is remembering the cards credentials. It becomes really difficult to remember the card number, CVV and other mandatory details. Furthermore, you will have to get access to the registered mobile number to validate the transaction using the OTP.

However, using the digital wallets in India is going to make your life much easier. You simply have to open the app and enter the amount. Confirm the amount and you are done. Look how easy and time saving it is. You do not need to remember the details and enter them.
Also if you follow the traditional online transaction method, poor connection makes your task more difficult. You will have the hard time confirming the purchase as the connection connectivity must be good to make traditional internet transaction.
Even if you ignore the above facts, the bank charges on the transaction that you make over the internet. You lose a lot of money to bank in the term of internet transaction fee.

Online wallet follows the simple model of transaction. You have to just load the money into your wallet from your bank account and you are free from remembering the card details. Make payments to the merchant using these wallets without getting your money deducted as online transaction fee.

           

Now let present to you the list of top 10 mobile wallets in India. This is going to guide you in selecting the wallet you can use to make all your future transactions related to money:

E wallets in India - List of best mobile wallets in india 2017

1. Paytm

This is the name that even a child knows. This mobile wallet in India gained its popularity during demonetization.
It is the most widely used wallet with the user base of over 200 million. It made the record of 1 billion transactions in 2016. Not only this, Paytm has 2 million registered merchants on its platform.

The service allows you to recharge your mobile, get tickets, pay bills, make deals, pay fees, and you can even make your EMI payments. The large number of merchants covers almost all the sectors which include: fashion, electronics, luxury, hotels and much more.
Paytm provides you the virtual marketplace where you can shop without leaving your home and pay instantly after you buy the product or service. Moreover, it is a preferred payment method in most of the applications such as bookmyshow, , Uber, Foodpanda, etc.
The user interface of Paytm is much like the ecommerce platform. You can see your profile, track your order, change the settings and much more. Not only this, you can even check your wallet balance, add money from your account to the wallet, check the balance and even see the most popular and best deals at the bottom.
Most used services such as recharge and e-commerce facility are on the top and on sidebar. You even get the payment options from almost all the private and nationalized banks of India.
Paytm wallet also provides you the cashback facility in your wallet. You get the cashback after almost every transaction you make and pay from the wallet.

2. MobiKwik

This app provides one of the best user interface but lacks in many other important features.
The main feature that lags in this app is the inability to schedule the transactions and transfer the money to the back account.

The major benefit of using the MobiKwik app is the 0 transaction fee for transaction from bank. You can use the mobikwik to recharge mobile and even to pay bills. You can even use it to pay across various platforms such as BookMyShow, Dominos, eBay and many others.
Many cashback offers often gets listed on its website, which saves you a lot of money once you use the code to get cashback.
MobiKwik has been able to build the offline partners like CCD. It has also tied up with the Ezetap, who provides the sale machines which are similar to credit card machines. The machines are already in market with over 70,000 merchants. This facilitates you to pay on any of these shops using this app.
Mobikwik has approx 40+ million wallet users making transactions on daily basis. You can recharge using the net banking, credit cards, and debit cards. You can also request and send money from friends and family using the mobile number or the email. The benefit of this service is that you get to make money transactions without having to worry about the additional charges.
Mobikwik money wallet offers unique service of collecting cash from your doorsteps in case you do not have the bank account or credit card. However, this service is still limited to very few places like Delhi, Gurugram and Jaipur.
If you are looking for the reliable option for digital wallet, then MobiKwik is a good choice to make.

3. FreeCharge

This mobile wallet allows you to recharge your mobile, electricity bills, DTH, datacard and metro recharge. You can top up the wallet using debit card or credit card.
If you want net banking can also be used for top-up. You are provided the facility to manage your freecharge account using the app or through website.

After being acquired by the SnapDeal in April,2015, freecharge launched the digital wallet to facilitate its users and make their life easy. The wallet was launched in September, 2015 to provide the transaction across FreeCharge and SnapDeal.
The unique feature provided by this online wallet is the recharge using Whatsapp. This move was made to make the digital transactions easier. Also the exciting coupons offered by this ewallet in India can be applied during recharge or even when you make bill payments.
The application provides schemes and offers on large number of stores when compared to any other e wallets in India. You can get access to these coupons in My Deals option available in the right menu bar of the app.
The major drawback of free chare is that you cannot transfer money to bank or to friend by any means. The capacity of recharging the Freecharge wallet is INR 3000 only.

4. Airtel Money

It is a semi-closed wallet that doesn’t allow you to withdraw money or redeem. However, you can easily recharge, transfer money to contacts, shops or bank accounts.
Bill payments can also be made using this mobile wallet. Airtel Money provides the facility to shop online for easy purchase.
If you want to book train with Airtel Money you can use it in a trouble-free manner.

The app permits you to request money with NFC- based payments. You can also transfer the money without loading it first into the online wallet. This e wallet allows you to split bills with your friends but simply entering their contact number.
Using the Airtel Money Outlet or the Airtel Relationship Centre you can load the money in your wallet. Even Uber has tied up with Airtel money to enhance your riding experience.
Airtel has got the payments bank license by RBI, which enables it to give interest or even issue the debit card along with other fascinating features.

The above listed 4 e-wallets are the best online mobile wallets in India available for you. In case, you want to know more names of the online wallets, I am writing them down for you:

5. PayUMoney

It is Gurugram based wallet providing company launched in 2014. It specializes in providing online payment solution through its mobile wallet.
You can use this e wallet to make bill payments via credit/debit card and using the net banking facility. The PayUMoney secures all your transaction using 128 bit SSL encryption.
To make themselves unique the wallet provides the element of one-touch checkout and cashback/ discount offers on every transaction. Also this app provides you the instant refund in case you cancel the order. They believe in 100% customer satisfaction and buyers protection.

6. Oxigen Wallet

This online wallet can be used by you for mobile recharge, DTH and many more. You can also make payments for mobiles, bills, etc. You can smoothly send and receive money directly to the bank account using Oxigen wallet.
This app also allows you to shop at partner sites and gives you reward points for using it. It has been approved by RBI and claims to be the first non-bank wallet to tie up with NPCI. The money wallet is majorly used for money transfer. The maximum amount that you can keep in it is INR 10,000 and transaction allowed per day is INR 5000.

7. State Bank Buddy

This e-wallet is launched by state bank of India.

Even if you are not the SBI customer, you can still use this app to transfer money, recharge mobiles, bill payments, and other for various other purposes.
The key feature of this app is it offers its services in 13 different languages. With the help of State bank buddy you can even set your dues and money transfer reminders.

Other Mobile Wallets you can try:

1. Jio Money Wallet

This digital wallet enables you to pay in a cashless way. With this e-wallet you can recharge mobile, pay bills, pay insurance and more.

2. BHIM e-wallet

This e-wallet is launched by Prime Minister Narendra Modi with the vision of digital India. It is the finest example of Make In India. Within few months of its launch over 10+million downloads can be observed. This app is supported by almost all the major banks of India.

3. PhonePe

Never look out for e-wallet again with this payment app. You just need to link your bank account with this app and start making payments directly from the bank account. You get instant refunds in case of order cancellations and huge cashbacks when you shop and pay through this app.

E-wallet is the today’s demand. You can pay using the digital wallet easily without the need of carrying the cash.
It is safe as you do not have to worry about the money kept in your pocket.
Moreover, you never have the shortage of money because of easy availability of funds directly from your account. The cashbacks and discounts available also helps you to save lot of money.