Know The Best Mobile Wallets In India
by Arjit Chalmela Finance StudentAs
shopping behaviour continues to develop, so does the former's payment platform
and payment gateway industry. Mobile wallet is a new model in India that has
surpassed credit card usage and is slowly replacing traditional payment methods.
Simply
put, a mobile wallet is a virtual bank wallet where cash gets deposited for
making mobile, online, or offline recharge. There are diverse types of mobile wallets in India,
such as open, semi-open, semi-closed, and closed, depending on the kind of use
and payments that can be made.
Wallets
are increasing as they help to increase transaction speed, particularly for
e-commerce firms, and all e-commerce marketplaces have also incorporated these
mobile wallets. UPI's introduction has become even simpler, as the transfer
takes place directly from the bank account instead of from a wallet. Here are
some of India's top mobile wallet and payment apps and their offering to their
clients.
·
Google
Pay
They
have very quickly scaled up their user base as part of the Google ecosystem,
despite being a late entrant. You can send money to friends with Google Pay,
pay bills, and buy it online, an easy payment solution for
grocery stores, recharge your
phone-all via UPI, and directly from your bank account. Because Google Pay
works with your existing bank account, that means your bank's money is safe.
There
is no need to reload wallets and do any additional KYC-that for all other apps.
You can also win scratch cards and other rewards, with the cashback transferred
directly to your bank account.
PayZapp
is a complete payment solution that gives you the ability to pay in one click.
PayZapp helps you to do mobile
recharge, DTH, and data
card, pay energy bills, compare and book flight tickets, hotels, and buses,
shop, purchase movie tickets, music and payment solution for grocery, take
advantage of great deals at SmartBuy and send money to everyone in your phone
book.
·
Mobikwik
MobiKwik
is a self-reliant mobile payment network that reportedly links 25 million users
to 50,000 and more retailers. This mobile wallet allows its users to deposit,
pay utility bills, and shop in the market. MobiKwik has recently joined up with
big and small-time grocery stores, restaurants, and other offline retailers,
due to the increasing need for convenience.
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Created on Feb 10th 2021 04:24. Viewed 188 times.