Top 20 Mobile Wallets for Cashless Transactions in India
There was no more suitable time for writing this article.
After the demon, there are huge problems coming to the people due to the serious reduction of 500 rupees and 1000 notes.
Apart from this, our Prime Minister will take more steps in the coming days which will inspire this country to become a cashless economy.
So when you earn money in your bank account, what do you do, but you can not take it back because there is no cash?
Okay you have an option. Rather than using physical notes, you can make payments through your mobile wallet / digital wallet.
You can open an account with mobile wallet and connect your bank account to it. Whenever you want to buy a product, you can pay through mobile wallet if the merchant accepts that particular wallet.
In this article we are giving you a list of the top 20 mobile wallets, so you can take advantage of your payments.
The best part of these pockets is that you can not only buy on ecommerce sites, buy tickets, pay bills, but you can transfer money from one account to another.
After these mobile walts you do not really need to keep any cash in your pocket.
Top 20 Mobile Wallet in India
So welcome to the cashless world! There are 20 best digital purses available in India and you can find some key features in these pockets.
PayTM Mobile Wallet
This will not surprise you because India is the number one mobile wallet app. PayTM now has more than 70 million users and it is going to reach 100 million users at any given time.
Petty orders 40-50 million orders each day.
But the thing that separates the PayTM from the other pockets is that India’s first payment to the Reserve Bank of India is the first person to get a license to start the bank.
Find all the activities that you can do at PayTM
- Send and receive money like any vegetable, milk, salon, local shopkeeper etc., to any person like your friends and relatives.
- Shop millions of products in thousands of categories
- Mobile Recharge
- Bill payment for mobile, electricity, DTH, school fees, broadband, landline, gas, insurance and more.
- Book tickets for movies, buses, trains, flights, cars, hotels etc.
Apart from offering these regular services, PayTM is also providing services like debit card, savings account, online banking, transfers, etc.
The best thing about people about PayTM is cashback, you can get cashback to pay almost all orders, recharge, ticket booking or even electricity bills.
Some other great benefits of PayTM are smooth and easy transactions and there are no unsuccessful transactions.
But above all the PayTM is now ubiquitous in India.
Recently, Mobikvic got a license to pay the same amount of payment to the bank. You can do all the things like paying electricity for electricity, water, gas, phone internet, mobile recharging, data card, DTH and off course ecommerce.
You can now accept or pay money using the Mobikwik app. They have a cash pickup facility that you can use to add money to your wallet.
MobiKiv has tied up with all major businesses and now it has 3.5 million Wallet users.
Although MobiKwik still does not like to pay and receive money because it is really good for mobile recharge and it is good to pay your electricity bills.
- Free Charge
Although I have listed Free Charge at number 3 but I personally do not like it. One of the main reasons is support issues.
When it comes to mobile recharge, DTH, electricity bill etc. Free Charge is one of the best mobile apps.
One of the good features of Free Charge on PETM and Mobikwik is its virtual master card from YES Bank which allows you to shop online at any shopping website.
Now in the list of mobile pockets, the big banks have been given by those who are not opposed to the previous one which did not extend to the big banks.
- SBI Big
State Bank of India is India’s largest bank, so we first want to mention our mobile wallet.
You can do all things with SBI friends like sending and receiving money, paying bills, recharge mobile phones, buying tickets, ecommerce etc.
Unique feature about SBI friends mobile wallet is available in 13 different languages.
Transaction is also very safe, although the SBI friend has a 3% fee (+ service tax) for fund transfer in bank account.
- ICICI pocket
The most popular mobile wallet offered by ICICI Pockets Bank is
Recently I downloaded my app on my mobile and tried to signup. The signup process involves verifying your mobile by sending an SMS from your mobile.
I tried 3 times and it reduces Rs 1.5 every time but verification failed.
With ICICI pocket you can send and receive money from your friends with a single tap.
Its touch and payment service allows you to shop with more than 60,000 merchants at the moment
You can open a savings account with your app, book and FD / RD and even apply for a free pocket card.
You can also get the benefit of their reference and earning facility to earn 50 rupees for every 3 referrals.
You can upload your wallet up to Rs. 20,000 / – per day. There is a limit of Rs. 2000 / – for maximum transactions.
- Lim Mobile Wallet
Lime is offered by Axis Bank. It offers both wallet and banking.
You can upload money from any bank account to Wallet and use it for recharge, ecommerce shopping, bill payment etc.
You can also send money with LIME and you do not have an account with Axis Bank.
LIME allows Axis Bank account holders to upload a maximum amount of Rs. 100,000 / – and Non-Axis Bank account holders can upload up to 10,000 / month per month.
There is nothing special about LIME
- City Masterpass
Citi Bank and MasterCard launched City Masterpass Digital Wallet for India.
It has all the features of the above mobile wallet. But where CT Masterpac stands out from the rest is ecommerce traders.
With City Masterpass, you can shop for more than 250,000 e-commerce traders. Apart from this, the wallet is very ubiquitous and is good for those who like to travel a lot.
Payumoney is accepting more than 100,000 websites and business in the country. But what does Payomney Patti set apart from AMM? It may be a fast checkout with security
It has got one-stop payment facility. It is important not to miss your card details and bank password. OneTap feature of Payumoney takes care of everything without a security agreement. You must remember once for your first transaction.
If you are paying through a saved card or wallet on Paymoni, you will get 1% additional reward points right now.
Other amenities like refunds, instant solutions among businessmen and customers, faster checkouts can also be found in PTMM.
These were mobile pockets made by major banks in India. Now we see other mobile wallet which are not any bank’s assistant.
- Vodafone M-Pisa
After monsters, Vodafone announced the M Pasha app for cash withdrawal. So before you were able to do all the things like bill bills, recharge mobile phones etc. But now you can send and withdraw money from Vodafone M Pesa Mobile Wallet.
Return facility is available only for full KYC customers. You can withdraw money in just 5 easy steps
Vodafone M Pesa has more than 120,000 outlets across the country, from where you can withdraw money.
If you open an account with M. Peso of 1000 rupees then there is zero activation fee.
- Oxygen mobile wallet
Oxygen Wallet has over 10 lakh outlets all over India for money transactions. Now more than 40 million transactions are being done using oxygen mobile wallet.
Oxygen is the first non-bank wallet for immediate fund transfer.
With oxygen you can do everything by sending money and asking for bills. You can transfer money to any bank account on any mobile number of any cellular network.
Oxygen is a very safe and dependable wallet compared to other people below.
- Money on mobile
With MoneyOnMobile app you can send money to bank account via SMS. In order to activate SMS services, you just have to send an SMS to register and you can use the service.
To send money, you only have to register with MoneyOnMobile, create an account, enter the beneficiary’s mobile number, enter your bank details, enter the amount and send it.
You can send money to India anywhere on your mobile.
There are over 188 million mobile users in Money on mobile and 326,000+ traders in its network.
Geomoni has entered into more than 50,000 ecommerce websites in India
It offers two types of account. There is a basic account with a transaction limit of Rs 10,000 per month and there is an advanced account up to Rs 100,000 per month with other transaction limit.
Xiao has zero transaction fee. You can send and receive money with it. However JioMoney is most suitable for online transactions and shopping.
The rest of the features are similar to other mobile wallet.
- Ola Money
Ola Money is another option though it is not for sending or receiving money in any bank account.
But you can use mobile wallet for some traders who are partnering with Ola Money. The list is too small.
There is nothing special about this mobile wallet. If you prefer to use wet app for taxi, then you can use it for shopping purposes too.
Frankly no one uses the wet money app
- PhonePlay Wallet
There is a new mobile wallet in the phone market. Although it is becoming a popular day in the day after the demon.
You will be surprised to know that the phone has been launched by Flipkart.
One of the main features of PhonePod is that as soon as you sign up on the phone, it will automatically bring the details of your bank account on the basis of your mobile number.
But one of the problem with PhonePay is that it is not available with iOS so that you can not install this app on your iPhone.
If you have an account with one of the 19 banks listed in the UPI then you can use the phone app to receive and send money through mobile phone.
You can also pay bills, buy online, recharge mobile, DTH etc.
In the phone, users do not have to load any money in the wallet because they use money directly from their bank account (as with the UPI).
Apart from that there is no transaction fee and you can make up to Rs 1 lakh transactions.
People still do not believe that it comes to security because the app is very new.
MRPE is another option for sending and receiving money on your mobile phone.
You can add 8 beneficiaries to your account.
Every time you send money, the transaction fee is charged. If the amount is approximately 20,000 / – then it is more than 1%. If the amount is less then the fee is higher, for example, for Rs 5000 / – you will have to pay 76 rupees as a transaction fee.
That’s why mobile banking is not free.
You can also do all other things like ecommerce, pay bill etc.
I did not find anything new about Novave, it offers all the other features like mobile wallet and facilities.
You can send and receive money using this mobile wallet. There is a limit on a transaction fee and withdrawal amount.
You can do all other things like bills, shopping, ecommerce, etc. If you want, you can try this mobile wallet.
The next two mobile purses do not offer core banking.
HDFC Bank’s new Digital Initiative Chiller is offering mobile wallet only for ecommerce purchases, movies, flights, deals, etc.
However, in the future Chiller is planning to complete all banking requirements like transfer and acquisition of funds in the banking account.
- On Citrus
There are more than 21 million registered users in Citrus Pay, with more than 8000 merchants and businesses.
You can do all things like Money Transfer, Bill Payment, Movie Tickets, Ecommerce Shopping, etc. with Citrus Pay.
When it comes to one-tap checkout, drinks are very similar to pomelo and citrus. Both of them offer smooth transactions with only one tap without compromising the security.
Like any other mobile wallet, Citrus Pay can take each transaction amount and the amount you can load and withdraw from the account.
The last two mobile wallet is for merchants and not for users.
MSWipe Digital Wallet is mainly for merchants and not for you and me like users. If you are a businessman and want to receive money from customers then you can use MSYIP.
It accepts all credit and debit card payments.
If you are a businessman, you can open an account with the MsVip by paying the initial set-up fee based on the plan you are choosing.
Some of the most popular merchants using Maswipe are Asian Paints, Apollo Munich, Bajaj Alias, HDFC Life etc.
Agateep is just like merchants suited for merchants and not for customers. If you are a businessman and looking for a payment gateway, then EzeTap is one of the best options.
It allows transactions through all methods like credit card, debit card, UPI, check, cash, mobile wallet app, etc.
If you are interested in EzeTap, you can visit their website and get more information about pricing.
EzeTap is a trader oriented mobile wallet.
Many other mobile wallet apps are available in the market. But if you are a user, then I recommend that you use the first 4 or 5 mobile wallet mentioned in this article.