In India with advancement in the online shopping people heading towards online shopping and services instead of traditional way of shopping. While keeping this engagement in mind digital wallets evolving their presence among online users for online transactions.
For some, it’s an e-wallet, while some called it a virtual wallet and some recognized it as Digital Wallet. Millions of people marked and rated digital wallets as enormously convenient & reliable.
A mobile wallet replaced the traditional leather wallet as it becomes safer and suitable to protect the money and ATM cards. All the financial and personal information is stored safely in a digitized format.
Using Mobile wallets user can make offline and online transactions to shopkeepers who are supported the digital wallet payment mode. In this post, we are discussing the era of a digital wallet in India.
Popular Digital Wallets in India
On the web, there is in-depth information about digital wallets, but we have listed down the trendy mobile wallets used in India.
Paytm is India’s popular mobile wallet which was launched in 2010. It has been recorded that Paytm is marked as the biggest mobile wallet platform in India.
It becomes the complete marketplace for online users – now make payment of moving tickets, mobile or electricity bill, shopping online, money transfer directly to bank account or other bank account and pay for Uber or Ola rides with cashback & Paytm wallet offers. Paytm is well connected with brands like Nike, Oneida, Lenovo, Panasonic, LG and more.
MobiKwik virtual wallet enables users to store money in their wallet which can further used for making recharge mobile phones, pay bills, receive discounts on deals, load money in wallet using debit/credit card, and net banking or for doing shopping online. From sources, MobiKwik connected with near about 2 Lakh merchant and has the crowd of 40 million plus customers.
MobiKwik grabs the attention of their customers with eye-catching offers and deals. Those in result force millions of users to make an online transaction to get the cashback on using MobiKwik Wallet.
Freecharge is the most downloaded app that widely in use and can be seen mostly in the smartphone of youngsters. The unique thing about Freecharge it provides discount coupons to a user for making recharge through their mobile wallet app.
Users find this digital wallet useful and reliable in term of making payment and getting equivalent recharge coupons on use. From research near about 20 million plus verified users using the Freecharge mobile wallet as a mobile payment system.
In addition, users can donate money via this digital wallet to a registered NGO’s. Using this wallet user can add money to their credit/debit card or net banking. On each transaction special discount is offered to the users.
4> Airtel Money
Airtel Money is the mobile wallet app introduced by the Airtel for their users. It becomes easy for making recharge of Airtel prepaid account or postpaid bill as well. Moreover, using this wallet user can make a transaction for shopping online by loading money in the wallet. It’s reliable and safe to use and every payment or transaction only be verified via 4-digit mPin.
Airtel Money offers various cashback deals to customers on using their e-wallet and 5 million plus registered users are using Airtel Money mobile wallet for online transaction in India.
Key Advantages of Digital Wallet
- No need to carry physical wallet or cash anymore.
- Shop and pay with ‘tap to pay’ approach.
- Automatic offers activated on a transaction.
- End to End encryption – no third-party access.
- A faster way of making payment.
- Wallet offers and deals on making a transaction.