After the demonetization of old banknotes in 2016, the general concept of the cash transaction system has changed. A mobile wallet or digital wallet, simply put, is a virtual mobile wallet where you can store money for mobile payments, online or offline. With the introduction of UPI, this has become even easier as the transfer is made directly from your bank account and not your wallet. Top 10 Mobile Wallets for Online Payment in India.
In India, there are some of the top mobile wallets which have made the finances more easier. Wallets are growing rapidly as they help increase transaction speeds, especially for ecommerce businesses, and all ecommerce marketplaces have also integrated with these mobile wallets.
Table of Contents
Here are some of the Top 10 Mobile Wallets for Online Payment in India:
Dhani
The Dhani app one of the top 10 mobile wallets for online payments in India. It is part of the India bulls group and has many features. Besides being a regular e-wallet application, it can also be linked to the Dhani SuperSaver card.
When it comes to financial services, customers can choose from a range of products to help them manage all of their everyday financial needs. These include Dhani’s flagship product, the OneFreedom card, which offers a credit limit of 10,000 to 5 lacs for a small monthly fee.
In Dhani OneFreedom’s subscription business model, depending on the credit limit granted to the customer, regardless of the actual usage of the limit, the interest charged on it, called monthly subscription, increases exponentially.
Other financial services include investing, trading and wealth growth with Dhani Stocks intelligent brokerage solutions. In 2020, the company integrated an online pharmacy into its super app. As part of this, the Dhani Doctor telemedicine service has been added, including instant video consultations with GPs. Overall it is one of the top 10 mobile wallets for online payments in India
Company website: https://www.dhani.com/
Mobikwik
Mobikwik one of the top 10 mobile wallets for online payments in India. Mobikwik is one of the independent mobile payment networks with 32 million users. Since then, use cases have expanded to include bill payments, online shopping, grocery delivery, gas stations, large retail chains, pharmacies, Kirana stores, and more.
It also enables peer-to-peer payments via Unified Payment Interface, MobiKwik Wallet and MobiKwik Wallet for bank payments. This e-wallet allows users to add funds via debit cards, credit cards, online banking and even checkout services at the click of a button.
MobiKwik has been used by 15 million users and according to Forbes India Magazine and is said to attract 1 million new customers every month. Over the years the company has amassed over 101 million registered users and over 3 million ecommerce, physical retail and billing partners making it one of the top mobile wallets for online payments in India.
- Company website: https://www.mobikwik.com/
- Address: Unit No. 102, 1st Floor, Block-B, Pegasus One, Golf Course Road, Sector-53, Gurugram, Haryana-122003, India
Yono Sbi
YONO SBI is one of the top mobile wallets for online payments in India. Sbi has evolved over the years and now offers anytime, anywhere banking services through a mobile application called YONO SBI. YONO in the name means “You only need one”, which is also the essence of this application.
YONO SBI offers customers a range of features and operational benefits that make it a very user-friendly and hassle-free banking experience for customers. This app is launched by State Bank of India for users to transfer money to other users, pay bills, top up , book tickets, make purchases, book taxi rides, book a train, book cinema tickets, online education and offline retail with special offers can perform offers.
It is one of the best mobile wallets in India and offers its mobile wallet services in 13 languages and the best part is that it is also available to non-SBI customers. It also offers convenient mobile banking services such as opening bank accounts, transferring funds, paying bills cashlessly and taking out loans. The smartphone application allows you to make ATM withdrawals without using an ATM card through the “Yono Cash” service.
All these YONO SBI banking service is available to all customers anytime, anywhere, domestically and internationally. No wonder it is one of the top mobile wallets for online payments in India.
- Company website: https://sbi.co.in/web/personal-banking/yono
Bhim Axis Pay
BHIM axis pay is one of the top mobile wallets for online payments in India. It is a mobile wallet application developed by National Payments Corporation of India based on Unified Payment Interface (UPI). Launched in December 2016, it aims to facilitate electronic payments directly through banks.
Users register their bank account with BHIM and set up a UPI PIN for the bank account. It allows all account holders to send and receive money using their smart phones with a unique identifier the Virtual Payment Address (VPA), commonly known as a UPI ID — without providing bank account information.
Therefore, customers do not need to know the IFS code, bank details, etc. of the recipient or payer, which simplifies the process. This allows customers to pay faster. It can be used by both Axis Bank users and other bank users.
The cell phone number is then a fixed address and you can initiate the transaction. The user can pay friends, family and retailers at the push of a button. Moreover it is one of the top mobile wallets for online payments in India.
- Company website: https://www.axisbank.com/bank-smart/axispay-upi-app/bhim-axis-pay-upi-app
- Contact no: 1800-419-5959
Paytm
Paytm is one of the top mobile wallets for online payments in India. It is the largest online e commerce platforms in India that offers its customers a mobile wallet to store money and make fast transactions. It is considered by many to be the best mobile app in India.
The Company provides mobile payment services to consumers and enables merchants to receive payments through QR codes, point of sale and online payment gateways.
The platform now allows its users to top up services via their mobile number, e.g. B. Pay bills, transfer money to other bank accounts, book flight, train or bus tickets, book hotel reservations and receive numerous gift cards or cashback offers.
Users can deposit funds and make payments to sellers.Ecommerce is an added bonus, but you can still pay bills, transfer money, and enjoy entertainment, travel, and cashback services. Paytm payments are accepted almost everywhere. In FY 2021-22, Paytm’s Gross Merchandise Value (GMV) was Rs 8.5billion. That’s why it is one of the top mobile wallets for online payments in India.
- Company website: https://paytm.com/
Google Pay
Google pay is one of the top mobile wallets for online payments in India. It is a mobile payment service developed by Google to support contactless in-app, online and in-person purchases on mobile devices, allowing users to make payments using Android phones, tablets or watches.
With Google Pay, you can send money to friends, pay bills, shop online, and top up your phone all through UPI and right from your bank account. Google Pay works with your existing bank account, which means your money is safe with the bank.
You don’t have to worry about topping up your wallets and you don’t have to do any additional KYC that all other apps require. With Google Wallet, your customers can pay with a simple touch anywhere that accepts Google Pay, make purchases with loyalty cards, board flights and more – all from their Android phone.
You can also win scratch cards and other prizes, with cashback credited directly to your bank account. The service features intelligent authentication, so the system recognizes when a device is deemed secure and verifies that the information is unlocked.
Since the introduction of UPI, wallets have become obsolete as users prefer to transfer between accounts via UPI. As of 2022, it is currently available in 46 countries making it one of the top mobile wallets for online payments in India.
- Company website: https://pay.google.com/gp/w/u/0/home/activity?sctid=7393928683360529
Icici Pockets
Pockets by ICICI are one of the top mobile wallets for online payments in India. It is a digital bank that offers its customers a mobile wallet. It gives you the ability to use any bank account in India to fund your mobile wallet and pay for your transactions. With Pockets you can transfer money, top up money, book tickets, send gifts and share expenses with friends.
This wallet uses a virtual VISA card that allows users to transact on any website or mobile app in India and offers exclusive deals or bundles from related brands. You can download the Pockets app and create your wallet right away – it’s available everywhere. Moreover it is one of the top mobile wallets for online payments in India.
Phonepe
Phonepe is one of the top mobile wallets for online payments in India. It is an Indian digital payments and financial technology company headquartered in Bangalore, Karnataka, India. Launched in 2015, PhonePe managed to surpass 100 million downloads in just 4 years.
PhonePe allows users to send and receive money, top up mobile phones, DTH and data cards, make utility payments, pay in stores, invest in savings and cash, and buy insurance, mutual funds, gold and silver. Users can also book Ola rides, pay for Redbus and tickets, and book flights and hotels on Goibibo through the Switch platform.
PhonePe helps merchants accept payments across all UPI-based apps, debit and credit cards, and wallets within the app. It has a great user interface and is one of the safest and fastest online payment methods in India.
PhonePe is accepted as a payment option by over 2.5 million stores and online shops in 15,700 cities and communities. It currently has over 35 million registered users with over 15 million monthly active users. No wonder it is one of the top mobile wallets for online payments in India.
- Company website: https://www.phonepe.com/
- Address: Unit No.001, Ground Floor, Boston House, Suren Road, Off. Andheri-Kurla Road,Andheri(East) Mumbai, Maharashtra, India, Pincode- 400093
Amazon Pay
Amazon Pay is one of the top mobile wallets for online payments in India. It is an online payment processing service from Amazon. It is also the best online payment app in India and in the world market. Amazon Pay was launched globally in 2007 and in India in 2017.
It builds on Amazon’s customer base and aims to allow users to use their Amazon accounts to pay on third-party shopping sites, including apps like BigBazaar, etc. You can also shop on Amazon using Amazon Pay.
Amazon Pay has also partnered with fintech companies like ZestMoney to enable free EMI payment options on its platform. This makes it easier for consumers to buy products from Amazon and pay in cheap monthly installments. Overall it is one of the top mobile wallets for online payments in India.
- Company website: https://www.amazon.in/amazonpay/home/?ref_=gw1_dasp
Free Charge
Free charge is one of the top mobile wallets for online payments in India. It is an Indian financial services company based in Gurugram. This mobile wallet app has many built-in cashback offers and discounts for the users. It allows users to pay bills such as electricity, gas, and phone, as well as top up cellular, broadband, DTH, and subway cards. supports all major network providers.
It also allows users to invest in mutual funds and get loans through Freecharge EMI. Freecharge app offers a simple, convenient and secure experience and its user-friendly interface allows users to transact in no time and without any hassles. Moreover it is one of the top mobile wallets for online payments in India.
- Company website: https://www.freecharge.in/
- Address: 5, MIDC, Airoli Knowledge Park, Airoli , Navi Mumbai-400708.
Top mobile wallets for online payments in India along with its website:
| S.NO | MOBILE WALLET | WEBSITE |
| 1. | Dhani | https://www.dhani.com/ |
| 2. | Mobikwik | https://www.mobikwik.com/ |
| 3. | Yono sbi | https://sbi.co.in/web/personal-banking/yono |
| 4. | Bhim axis pay | https://www.axisbank.com/bank-smart/axispay-upi-app/bhim-axis-pay-upi-app |
| 5. | Paytm | https://paytm.com/ |
| 6. | Google pay | https://pay.google.com/gp/w/u/0/home/activity?sctid=7393928683360529 |
| 7. | Icici pockets | https://www.icicibank.com/personal-banking/bank-wallet/pockets/pockets |
| 8. | Phone pe | https://www.phonepe.com/ |
| 9. | Amazon pay | https://www.amazon.in/amazonpay/home/?ref_=gw1_dasp |
| 10. | Free charge | https://www.freecharge.in/ |
Faq related to top mobile wallets for online payments in India:
Which is the No 1 payment app in India?
PhonePe
Which wallet is safe in India?
The Ledger Trezor, Nano X, Nano S, and KeepKey
What is the safest mobile wallet?
Samsung Pay, Google Pay, and Apple Pay
Which UPI wallet is best?
- Mobikwik App
- BHIM App
- HDFC Payzapp
What is the safest wallet app for Android?
Google Wallet
Which payment app is Govt of India?
BHIM
What is the full form of UPI?
Unified Payments Interface.
Which wallet is most used in India?
1) Binance
2) WazirX
3) Ledger
Which is India’s first e-wallet?
Wallet365.com
Conclusion
As for the final say these are some of the top 10 mobile wallets for online payments in India. These mobile wallets are very convenient and easy to use. Through these apps one can handle all their financial work and paying online without the hassle to carry cash.
