Top 11 Mobile Wallets for Online Payments in India

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E-wallets have become the major platform for transactions in India.  With the massive push for the cashless economy by Government, people are now downloading e-wallets for transactions to happen in a digital way. Sustained by the ban on Rs 500, Rs 1000 currency notes in India, Mobile wallet concept is surpassing debit card usage.




Top 11 safe and secure Mobile Wallets In India
1.PayTM
2.PayUMoney
3.Mobikwik
4.Citrus
5.Momoe
6.State Bank Buddy
7.Citi MasterPass
8.ICICI Pockets
9.HDFC Chillr
10.LIME
11.Oxigen

 

1.PayTM

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Paytm is an Indian e-commerce website headquartered in Noida, India. It was launched in 2010 and adds to the industry of FinTech in India. It is owned by One97 Communications. The firm started by offering mobile recharging, adding bill payment and e-commerce, with products similar to businesses such as Flipkart, Amazon.com, Snapdeal. In 2015, it further added booking bus travel. Paytm also launched movie ticket booking by partnering with Cinépolis in the year 2016.

PayTM, one of the India’s largest mobile commerce platforms offers a digital wallet to make e-commerce transactions. Apart from that, PayTM wallet can also be used to, transfer money, make bill payments and to get services from merchants from entertainment, travel and retail industry.

The company has also partnered with premium educational institutions in India and introduced cashless payments for bills, fees, and other expenses. The mobile wallet has a huge user base in the country with more than 1,000,000+ app installs.

 

2.PayUMoney

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PayUMoney, a Gurgaon-based company that provides online payment solutions launched its wallet service last year. This e-wallet by PayUMoney enables the user to store cash and pay for various services and transactions.

In order to differentiate themselves from other players, they provide a wide range of benefits that include one-touch check out and discounts / cashback offers on every transaction made. This e-wallet also provides instant refunds on order cancellations and buyer protect to ensure the right purchase and customer satisfaction.

Number of installs: 100,000+

 

3.Mobikwik

 

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MobiKwik is an independent mobile payment network that supposedly connects 25 million users with 50,000 retailers and more. This mobile wallet lets its users add money using debit, credit card, net banking and even doorstep cash collection service, which can in turn be used to recharge, pay utility bills and shop at marketplaces.

Owing to the growing need for convenience, MobiKwik has also recently tied up with large and small time grocery, restaurants and other offline merchants.

Number of installs: 10,000,000+

4.Citrus

 

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Citrus Pay is a popular e-wallet app for cash storage, payments and money transfers. Besides tying up with online service providers from varied sectors, they are now collaborating with Woohoo, a gifting and shopping portal to let its customers shop at more than 5000 offline stores listed with them.

Number of installs: 100,000+




 

5.Momoe

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Momoe is a Bengaluru based mobile payments startup that focuses on changing how customers pay while eating out, travel and shop. Using the Momoe app, one can store their credit card details and make mobile payments at various restaurants, grocery stores, apparel, salons and other retail outlets.

The app’s initial foray was into restaurants which attracted many installs due to the ease of payment options. The users were able to see live tabs, split bills and pay directly, without having to wait for a physical bill to arrive. Even though its services are currently available only in Bangalore, due to the growing popularity of the app and investment funds they will soon be expanding their services to six new cities.
6.State Bank Buddy

 

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This mobile wallet application was launched by State Bank of India to let users transfer money to other users and bank accounts, pay bills, recharge, book for movies, hotels, shopping as well as travel.

This semi-closed prepaid wallet offers its services in 13 languages and is available for non-SBI customers as well. This app also allows its customers to set reminders for dues, money transfers and view the mini-statement for the transactions carried out.

Number of installs: 100,000+
7.Citi MasterPass

 

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Citi Bank India and MasterCard recently launched ‘Citi MasterPass’, India’s first global digital wallet for faster and secure online shopping.

By using this, Citi Bank debit and credit card customers become the first in this country to be able to shop at more than 250,000 e-commerce merchants. It ensures faster checkout with a single click or touch and stores all your credit, debit, prepaid, loyalty cards and shipping details in one place.
8.ICICI Pockets

 

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Pockets by ICICI is a digital bank that offers a mobile wallet for its customers. It provides the convenience of using any bank account in India to fund your mobile wallet and pay for transactions.

With Pockets, one can transfer money, recharge, book tickets, send gifts and split expenses with friends. This wallet uses a virtual VISA card that enables its users to transact on any website or mobile application in India and provides exclusive deals or packages from associated brands.

Number of installs: 1,000,000+
9.HDFC Chillr

 

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Chillr is an instant money transfer app created by HDFC to simplify money transfer and payment process for its customers.

Using this mobile payment app, one can transfer money to anyone in their phone book, thereby cutting out on the hassles of adding a beneficiary. It is currently available only for HDFC Bank customers and can be used to send money, recharge, split bills, request funds or transfer and will soon be able to pay at online & offline stores.

Number of installs: 100,000+
10.LIME

 

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Axis Bank, the third-largest private sector bank launched ‘LIME’, an application that offers a mobile wallet, payments, shopping and banking facilities.

This mobile wallet is available for both account & non-account holders and lets a user add money using his or her credit, debit and net banking details. One can also share the wallet with their loved ones or pool in funds into a shared wallet for a particular purpose (Example: Gifts, vacations, etc.)

 

11.Oxigen

 

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Oxigen Services India Pvt. Ltd., an ISO 9001:2008 certified FinTech company, is one of the major payment solutions providers in India. It is involved in micropayment of services and remittances in real time. It was started in 2004 by Pramod Saxena, an alumnus of IIT Roorkee and listed company on South African Stock Exchange, Blue Label Telecom.

The payment solutions provider allows customers to make mobile/DTH recharges, money transfers through bank and Oxigen Wallet, utility bill payments, etc.

The firm reportedly has a retail footprint of 200,000 active outlets with 2 billion transactions processed as of January 2016. As per a recent media update, the transaction volume rate of Oxigen is 600 million transactions per annum with a customer base of more than 150 million




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