Let’s talk about some of the best mobile wallets around. But, wait a minute? What is a mobile wallet? Although the trend of using a mobile wallet is gradually catching up, only a few know what the term actually means.
Imagine yourself buying a brand new shirt at a store. You pull out the wallet from your pocket and hand over the amount to the storekeeper. A mobile wallet can be considered as a virtual version of a traditional wallet. Let’s make it a bit simpler, the mobile wallet is a service that lets you store a certain amount in the account you created with the service provider. This amount can later be used to shop online as well as offline.
According to a few experts, mobile wallets may someday, if not soon, replace credit cards. Well, we are not quite sure when that will happen, but what we do know is that there are a few mobile wallet services that make shopping a lot easier. We have come up with what we call the ‘Top 5 mobile wallets in India’. Let’s have a look:
Paytm is one of the most popular e-commerce platforms that offer the digital wallet facility. Launched way back in 2010, Paytm lets you create an account to store your money. You can later use the money while you shop at stores that have a tie-up with Paytm. Apart from shopping, the money in this account can also be used to pay bills (including electricity, water usage, etc.) and buy entertainment tickets.
Other reasons to opt for a Paytm wallet are the amazing Paytm offers and Paytm coupons that can help you save a fortune on your purchase.
With over 20 million registered users already, FreeCharge is another popular platform that can be used for services such as prepaid mobile recharge, DTH recharge, gas bill payment, metro smart card recharge, electricity bill payment, and landline bill payment to name a few.
By offering such services, FreeCharge intends to bring the recharge experience to the web, thereby preventing users from standing in long unending queues to pay the bills. If you’re lucky, you may come across some fabulous FreeCharge coupons that offer an amazing discount on the mobile and DTH recharges.
FreeCharge has collaborated with several fast food chains and retail stores such as McDonald’s, KFC, and Peter England to offer you discount coupons, when you recharge with FreeCharge.
With more than 25 million active users, MobiKwik is yet another fabulous mobile payment platform that has a tie-up with over 50,000 retailers. The money can be added to the account using net banking, debit card or credit card. Interestingly, MobiKwik also offers a doorstep cash collection service, which can later be used to shop, recharge, and pay bills.
The company has also recently collaborated with several offline retailers including grocery stores and restaurants. The exciting Mobikwik offers is another reason for relying on Mobikwik to take care of all your bills, right from mobile bill payment to electricity bill.
4. Oxigen Wallet
Founded in 2004, the Oxigen wallet is one of the oldest payment solution providers. Over 35 million transactions are carried out each month through Oxigen, which is indeed a huge number. Approved by the RBI, Oxigen wallet lets you instantly transfer money from anywhere at any time.
The money can be transferred to a desired mobile number irrespective of its cellular network. Moreover, the service also lets you transfer money to bank accounts using Immediate Payment Service or NEFT to almost all the major banks.
5. Citrus Pay
Citrus Pay is another highly preferred e-wallet app that lets you store cash, make payments, and transfer money. Apart from having already tied-up with several online retailers, Citrus Pay has partnered with Woohoo, a popular shopping and gifting portal that lets its users shop from over 5, 000 offline stores.
These are just 5 mobile wallets that we feel are probably the best, you may come across a few more. However, the ones mentioned in this article are worth trying out. And why shouldn’t you, when there are some fabulous offers and discounts that come along, right?