Since, the shopping models continue to develop, so does the Payment Gateway Industry and Payment Platform and that drives the earlier. From a long time period, Mobile Point of Sales Machines is available to serve. Mobile wallet is a new concept in India that has been surpassing credit card usage and is slowly beginning to replace the traditional payment methods.
In simple terms, a mobile wallet is a practical mobile-based wallet where one can store money for making mobile, offline and online payments. There are different sorts of mobile wallets in India, which includes open, semi-closed, semi-open, and closed – according on the sort of usage and payments that can be completed Wallets are mounting quickly as they assist in Especially For Ecommerce Companies, Increasing The Speed Of Transaction, and all Ecommerce Marketplaces have combined with the mobile wallets as well.
Here are 10 Payments Apps trending in India and what they present to their customers.
PayTM is one of the largest mobile commerce stages in India, providing its users a digital wallet in order to store money and make fast payments. Introduced in the year 2010, Pay TM listening carefully on a semi-closed copy and has a market of mobile, where a client can load money and make settlements to merchants who have ready tie-ups with the business. Despite of making e-commerce deals, PayTM wallet can also be utilized to make bill payments, transfer money and borrow services from merchants from travel, leisure and retail industry.
Capitalizing on the capacity and development of India’s education market section, they just partnered with best educational institutions in India to set up cashless payments for fees, bills and other expenditures.
It is an exclusive Gurgaon-based company assuring for the perfect online payment solutions introduced its wallet service in the year 2017. The e-wallet gives you facilities to let the user to store cash and settle for different transaction and services.
In order to distinguish the company from the competitors, they make sure for wide range of profits that include cash back offer, amazing discount on every transaction and one-touch check out. The e-wallet services even offer immediate refunds on order cancellations and buyer defend to make sure the right purchase and customer fulfillment.
Momoe is a Bengaluru depend mobile payments establish that focuses on shifting how buyers settle while eating out, journey and shop. With the help of Momoe app, it is easy to store the credit card information and create mobile payments at different restaurants, apparel, salons grocery stores, and similar retail outlets.
The initial app’s venture was into eating outlets which attracted numerous installs due to the simplicity of payment choices. The users were capable to observe live tabs, split bills and disburse straight away, without having to wait for a material bill to appear. However, the services are presently available just in Bangalore; due to the growing fame of the app and asset funds they will rapidly be expanding their services to six innovative cities.
MobiKwik is simply an autonomous mobile payment network that evidently connects 25 million users with 50,000 retailers. This mobile wallet allows its users insert money using credit card, net banking, debit, and even doorstep cash collection service. The website is extremely helpful to disburse utility bills, recharge, and shop at marketplaces. In order to provide the best ease and convenience to the people, the company has also just tied up with various large and medium sized grocery stores, restaurants and various offline trades.
It is one of the highly reputed e-wallet apps for the shortage of cash, money transfer and payments. Apart from tying up with online service providers from different sectors, they are now associated with Woohoo, a shopping and gifting website to allow its customers shop at more than 5000 offline stores mentioned with the company.
6. State Bank Buddy
Introduced by State Bank of India, the mobile wallet application helps the users to transfer money to various users and bank accounts, recharge, book for movies, pay bills, hotels, shopping and even travel among others.
The top benefit associated with the semi-closed prepaid wallet is that the services are offered in different 13 languages. The services are also available for the non-SBI customers. The app also helps the customers to place reminders for the dues, transfer of money and checking the mini-statement on every transaction performed.
7. Citi MasterPass
‘Citi MasterPass’ is a service offered by Citi Bank India and MasterCard. It is india’s first global digital wallet for quicker and secure online shopping.
With the help of pass, the customer of Citi Bank Debit And Credit Card now can avail the online services offered by more than 250,000 e-commerce merchants. It make sure for the quicker checkout with a only click or touch and stores all your credit, loyalty cards, debit, prepaid, and shipping information under one lay.
8. HDFC Chillr
If you are looking for an immediate money transfer app, you can look ahead with HDFC chillr. The app is made by the HDFC to shorten money transfer and process of payment for its customers.
Making use of the mobile payment app, it is easy to transfer money to anybody in their phone book, thus cutting out on the problems of adding a receiver. It is presently accessible just for HDFC Bank customers. It is widely used to drive money, split bills, recharge, request funds or move and will soon be capable to disburse at online and even offline stores.
9. ICICI Pockets
No doubt, ICICI bank is better known for the best services. The service of ICICI offers a mobile wallet to the customers. It allows the ease of making use of any bank account in India to support your mobile wallet. It is helpful for paying the transactions.
ICICI Pockets helps the customer to transfer money, send gifts, recharge, book tickets, and split expenditures with friends. The wallet makes use of a virtual VISA card that allows its users to carry out on any web portal or mobile application in Indi. It offers special deals or packages from linked brands.
We all are aware about the fact that Axis Bank is the third-largest private sector bank. To give its users the top benefits, the company has launched ‘LIME’, an application that gives a mobile wallet, shopping, payments and even banking services.
The mobile wallet is easily offered for both account & non-account holders. It allows a user adjoin money by means of his or her credit, debit and net banking information. It is easy to share the wallet with their respected ones or pool in funds into a common wallet for a particular idea.