Top 5 Indian Digital Wallets & UPI Payment App 2021

A mobile wallet, also known as a digital wallet, is a virtual mobile-based wallet that can be used to make mobile, online, or offline payments. In India, mobile wallets are classified as open, semi-open, semi-closed, or closed, depending on the type of usage and payments that can be made. Wallets are rapidly expanding as they aid in increasing transaction speed, particularly for e-commerce companies, and all e-commerce marketplaces have integrated with such mobile wallets as well. It has become even easier since the introduction of UPI, as the transfer occurs directly from the bank account rather than from a wallet.

1. Google Pay

Despite being a late entrant, Google Pay (formerly known as Tez) has rapidly expanded its user base as part of the Google ecosystem. It is currently India’s No. 1 digital wallet and one of the top online payment apps. With Google Pay, you can send money to friends, pay bills and buy things online, and recharge your phone – all through UPI and directly from your bank account. Because Google Pay works with your existing bank account, your money is secure with your bank. There is no need to worry about reloading wallets, and no additional KYC is required – as is the case with all other apps.

2. PhonePe

PhonePe is the next app on the list of the top online payment apps in India. PhonePe was founded in 2015, and in just four years, it has surpassed the 100 million download mark. PhonePe allows you to do everything from UPI payments to recharges, money transfers, and online bill payments. It has an excellent user interface and offers one of the safest and fastest online payment options in India.

3. Dhani

Dhani App is part of the Indiabulls group and offers a variety of features. It is not only an e-wallet app, but it can also be used in conjunction with the Dhani SuperSaver Card. Dhani also has a reward and loyalty programme for Dhani customers where they can play games and win cash to pay for mobile recharges, EMI payments, insurance, and new Dhani products. This can be combined with the Dhani Super Saver Rupay (physical and virtual card), which guarantees 5% cashback on all purchases made with the card and is free for the first month.

4. BHIM Axis Pay

BHIM Axis Pay is a UPI banking app that allows you to send money to anyone using only your smartphone. Recharge your prepaid mobile phone and DTH set-top boxes online directly from the app.

5. PayTM

PayTM is one of India’s largest mobile commerce platforms and one of the top online payment apps, offering customers a digital wallet to store money and make quick payments. This semi-closed e-wallet app, launched in 2010, includes a mobile market where customers can load money and make payments to merchants with whom the company has operational agreements. It was the most popular digital wallet in India prior to the introduction of UPI.

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