There's no need to worry about reloading wallets and you don't need to do additional KYC - which is required for all the other apps. Since Google Pay works with your existing bank account, which means your money is safe with your bank. With Google Pay you can send money to friends, pay bills and buy online, recharge your phone - all via UPI and directly from your bank account. It is currently the No.1 digital wallet and one of the top online payments apps in India. Google Pay (formerly known as Tez)Īs its part of the Google ecosystem, they have scaled up their user base quickly, despite being a late entrant. Our top pick is Google Pay, which is also the No.1 digital wallet and UPI payment app right now 1. Here are some of the top 10 digital wallet and the top online payments apps in India and what they offer to their customers. With the launch of UPI, it has become even easier, as the transfer happens directly from the bank account rather than from a wallet. Wallets are growing rapidly as they help in increasing the speed of transaction, especially for e-commerce companies and all e-commerce marketplaces have integrated with such mobile wallets too. There are various types of mobile wallets in India, such as open, semi-open, semi-closed and closed - depending on the type of usage and payments that can be made. With UPI making payments seamless, mobile wallets and digital payment apps have been surpassing credit card usage and are slowly beginning to replace the traditional payment methods.Ī mobile wallet or digital wallet, in simple terms, is a virtual mobile-based wallet where one can store cash for making mobile, online or offline payments. As shopping patterns continue to evolve thanks to Covid 19, even mobile and digital wallets in India small-time have evolved with it.
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