Best E-Wallets in India
Due to their convenience and security, digital wallets are available everywhere, from e-commerce platforms to online casinos. The only question is which payment service to choose.
Your search may take some time as there are so many factors to check. Fortunately, this step can be skipped. Below, you will find 10 best digital wallets in India and their brief overviews.
Google Pay
Wallet is part of Google’s growing ecosystem. Therefore, it is not surprising that it has become extremely popular despite the late debut.
With over 100 million downloads, Google Pay is rightly considered the #1 payment solution in India today. It allows you to send funds to friends, buy goods online, and even make casino deposits. All this happens through UPI and directly from your bank account. The latter guarantees the highest security level for your money and any financial information.
The good news is that users do not have to undergo additional verification, as is often the case with other wallets. Moreover, they can earn rewards like scratch cards and cashback, which are deposited straight into their bank accounts.
Typically, Google Pay is pre-installed on Android devices. All you need to do is launch the application and create a new wallet. The process takes a few minutes.
Dhani
This payment application belongs to the Indiabulls group. Therefore, it offers a variety of features beyond a standard e-wallet. It integrates with the Dhani SuperSaver Card, enhancing the functionality.
Dhani also provides a rewards and loyalty program where users can play games to earn extra funds. The latter are then available for mobile recharges, EMI payments, insurance, and purchasing new Dhani products.
Additionally, the Dhani SuperSaver Rupay card (available in both physical and virtual versions) offers a guaranteed 5% cashback on all purchases. Yet, the best part is that the card is completely free for the first month.
PhonePe
Here is another decent payment method. PhonePe is ideal for those who value security and convenience. The service debuted in 2015, and it took PhonePe less than four years to break the 100,000 download mark.
The range of services is quite extensive. It covers online bill payments, direct financial transfers, UPI payments, and so on. Additionally, users note the intuitive interface, fast transactions in India, and advanced security system.
To start using PhonePe, install it on your Android or iOS device. Then, register a wallet and recharge it to access all the built-in services.
Yono by SBI
State Bank of India has developed and released this app so that local users can:
- Transfer funds to other users;
- Pay utility bills;
- Book hotels when traveling;
- Pay for online shopping and much more.
There are several other benefits associated with this semi-closed prepaid wallet. For example, it supports 13 languages. Users can set reminders for mandatory payments, view transaction history, and so on. By the way, if you are not an SBI customer, you can still install this wallet.
BHIM Axis Pay
Many of you are probably familiar with this service. The UPI banking app is designed to deliver funds in seconds. Moreover, only your phone number is required for a successful transaction. Simply launch the application and send funds or pay for your online purchase in a few taps on Android or iPhone/iPad.
MobiKwik
This service connects 25+ million users with more than 50,000 retailers. They can add funds via debit or credit cards, net banking, or even doorstep cash collection services. This money can then be used for recharges, utility bill payments, and shopping at various marketplaces.
In response to the rising demand for convenience, MobiKwik partners with large and small-scale restaurants, grocery stores, and others.
The expense tracker is the main feature here. It helps clients set budgets for their spending across all payment methods. By analyzing SMS data, it provides insights and control over expenses. This unique functionality is one reason why MobiKwik ranks among the top online payment apps in India.
Apple Pay
As you have already guessed, this tool is identical to Google Pay. The only difference is that Apple Pay is an exclusive wallet for iOS devices. You only need to link your credit or debit card to manage your money via iPhone or iPad or even Apple Watch.
The payment method is completely secure. Third parties will never access your financial details. However, you can only use the wallet only for sending money, since you will not be able to receive it.
PayTM
PayTM is often featured on online sites and other platforms because it is a popular and sought-after service. Thus, it offers a digital wallet for storing funds and lightning-fast transactions.
Launched in 2010, this e-wallet application operates on a semi-closed model, featuring a mobile marketplace where users can load funds and make payments to merchants partnered with the company. For a long time, PayTM was the #1 banking service in India (before the debut of UPI).
The financial possibilities of this app are almost limitless. Users can pay their bills and transfer money to each other. They can also use services from merchants from entertainment and travel industry. Overall, PayTM makes a pleasant impression with fast transactions and numerous services.
ICICI Pockets
Pockets by ICICI is a digital banking service that offers a branded mobile wallet. It allows people to link any bank account in India to fund their wallet and complete transactions with ease. Moreover, the service allows you to:
- Transfer money;
- Recharge accounts;
- Send gifts;
- Book tickets;
- Split expenses with friends.
The wallet comes with a virtual VISA card, enabling transactions on any Indian website or mobile app. It also opens access to exclusive offers and deals from partnered brands.
Amazon Pay
Amazon company launched a branded digital wallet in 2007. Ten years later, Amazon Pay became available to Indian users. The purpose of the payment method is to facilitate and speed up online transactions on external merchant websites, including applications like BigBazaar.
If you frequently shop on Amazon platform, you will be able to pay directly through your registered account. Moreover, this service cooperates with fintech companies, including ZestMoney.
At the same time, the transactions remain absolutely safe and you have nothing to worry about.
