Despite being a new concept of making payments, mobile wallets have become popular in very short period of time.
In the cashless era, mobile wallets are making their way. Individuals use wallet for different purpose from mobile reharge mobile or to make taxi payments and even shopping.These wallets have discounts offers and cashback points which hardly fail to attract customers.
To make use of mobile wallets one needs to download the same for the app store or google play. Transfer money to the wallet and can use it for making payments.
Wallets can be used to make Mobile, DTH recharge, Bill payments and shopping.
Here are 7 best and popular mobile wallet apps in India.
Paytm has become India's largest mobile commerce platform. The company started by offering mobile recharge and utility bill payments and today it offers a full marketplace to consumers on its mobile apps. Paytm Wallet App lets you transfer & request money, securely store money online and do payments on the go.
Oxigen Wallet is powered by Oxigen Services (India) Pvt Ltd, India's first and largest payment solutions provider. Every money transfer transaction on mobile wallet is secured with a 6 digit OTP (One time password) sent to your registered mobile number.
Oxigen Wallet is India's first RBI approved non-bank wallet to be integrated with NPCI allowing instant money transfer from the Wallet to 60+ banks and vice versa using the Immediate Payment Service (IMPS).
MobiKwik is available for use at more than 50,000 online and offline avenues. This will be hassle-free payments that are super-secure. All services of MobiKwik are also available via a desktop site and a mobile site.
MobiKwik received the coveted PrePaid Payment Instrument license from the Reserve Bank of India.
PayU India is the flagship company of Naspers group which is a $25 Billion internet and media conglomerate listed on London and Johannesburg stock exchanges respectively.
PayU is a partner with all major nationalised and cooperative banks.
m-pesa claims to be a fast, secure and convenient way to transact on mobile brought to you by Vodafone, through its wholly owned subsidiary Vodafone m-pesa Limited (VMPL) in association with ICICI Bank.
It has been authorized by Reserve Bank of India (RBI).
Free Recharge is one of the well known digital wallets, and it was founded by Kunal Shah and Sandeep Tandon. Free Recharge is recognized as the second most significant takeover in the Indian e-commerce sector in India so far.
Free Recharge provide services like prepaid, postpaid phone recharge, DTH, and Data Cards Recharge, etc. in India. Customers can pay even more stores like McDonald's, Snap-deal.
The amount which customer pays for recharge comes back to the customer in the form of shopping tokens of some top retailers in India. Free Recharge also has a mobile wallet in India among all digital wallets available in India. Free Recharge has an interface with 10 million registered users.
Chillr is a mobile payment app that allows you to send money instantly to anyone in your phone book. Unlike other wallets, Chillr lets you make transactions directly from your bank account. The advantage here is one can make more money in your bank account, as you will gain interest on the same.