The whole concept of carrying cash while going to shop is taking a back step in urban India and mobile wallets a.k.a m-wallets are becoming a rising trend.
You just need your smartphone to use any of these mobile wallets, which is both convenient and a safe way to pay. After demonetization happened in India more people than before have started using m-wallets. In the field of technology, digital wallets are one of the best innovations. Millions of common Indians are using e-wallets to make payments these days.
Here are the top e-wallets which you can use:
PayTm: Used by Millions, PayTm is one of the most popular mobile wallets in India. PayTm offers a totally secured online payment platform for almost all kinds of transactions. What makes PayTM standing out from the rest is it is the first one to be granted a license from Reserve Bank of India for starting India’s first payments bank. PayTm is available on platforms, Android and iOS.
MobiKwik: MobiKwik is an independent mobile payment network which lets its users add money using debit, credit card, net banking and even doorstep cash collection. One can also use MobiKwik for paying bills for electricity, water, gas, phone internet, recharging mobile, data card, DTH etc. MobiKwik is available to iOS, Android, and Windows Phone users.
PhonePe: PhonePe was launched in 2015 and in just a few years it has been able to cross the 100 million download mark. PhonePe is useful from UPI payments to recharges, money transfers to online bill payments. PhonePe is one of the safest and fastest digital payment experiences in India. PhonePe is a part of the e-commerce giant Flipkart.
JioMoney: JioMoney has tie-ups with over 50,000 e-commerce websites in India. JioMoney offers a simple user interface and everything essential like wallet balance, the option to recharge, send/request money, and pay at a shop are displayed on the main page itself. It is available in Google Play Store and Apple App Store.
Google Pay: Last in this list but obviously not the least, Google Pay is a part of the Google ecosystem. Google Pay has scaled up its user base really quickly, Though a late entrant, Google Pay now offers services like sending money, paying bills and buying online, or recharging phone. Since Google Pay works with the user’s existing bank account, one can be rest assured about the safety and security. Google Pay doesn’t ask for any KYC, as of now.
(Image Courtesy: https://techhq.com/amp/e-wallet/)