The demonetization wave in India has promoted the trend of cashless transactions. Due to digitization, paying and receiving money is just a few taps away.
This is made possible by a number of mobile wallets available in the market. When you have a mobile wallet, you do not need to carry cash in your pocket or visit the bank for simple day-to-day transactions. Digital wallets have made our lives easy. However, it is important to ensure security while making these digital transactions.
If you are confused about which money app to use, then here’s a list of five safest online money transfer apps available in India.
Paytm, owned by One97 Communications is one of the largest digital wallet apps in India. The app has witnessed a huge increase in its downloads after demonetization. The app allows you to send money to other app users and bank accounts. Transferring money with the app is simplified using the mobile number or QR code. The app also lets you pay mobile bills, book movie tickets, and flight tickets, among others. Paytm is an e-commerce platform. You may shop a number of fashion accessories, home appliances, and electronic items through the app. Recently, the app has also joined hands with premium educational institutes to facilitate cashless fees and other educational bill payments.
JioMoney is owned by Reliance Jio Infocomm, the telecom company known for its 4G network in India. It was introduced in 2016. The app allows smart, simple, and secure digital transactions using the barcode feature. The interface of the app is simple and user-friendly. Apart from bill payments and money transfers, JioMoney allows you to donate to charity. It also lets you pay your insurance premium, book train or movie tickets, renew your vehicle pass, and pay for Uber cabs. For instant payments, you may bookmark your favorite merchants or repeat a frequently done transaction. Besides, the money app also provides great discounts, coupons, and offers customized for you.
Mobikwik is an independent Gurugram-based digital payment app. It has a network of more than 50,000 retailers including Snapdeal, Pizza Hut, Archies, PVR, ShopClues, Jabong, Domino’s Pizza, eBay, and Café Coffee Day, among others. It is a semi-closed cross-platform app. It offers a wide variety of shopping options. It enables payments of gas bills, electricity bills, landline bills, and ticket bookings of trains and Volvo buses. The wallet allows transferring money up to INR 1 lakh. For recharging your wallet, you may even opt for its doorstep cash collection service apart from paying through the card or net banking.
PayUmoney is a part of PayU India and allows you to store money and make quick payments to merchants like Goibibo, Snapdeal, Ferns n Petals, Lenskart, OLX, and many others. The app offers discounts, cashback, or reward points on each transaction. Its one-touch checkout makes payments quick. You may set bill reminders on the app to never miss a due date. Moreover, if you cancel an order, then the app gives you an instant refund. It also provides buyer protection to ensure maximum customer satisfaction. Besides, for merchants who do not have a website, the app gives SMS and e-mail invoicing facilities.
- Ola Money
Ola Money is a digital wallet offered by the cab aggregator, Ola. The wallet is used to make booking payments on Ola, buy groceries, pay bills, transfer money to friends, recharge Metro Card, and book flight tickets, among others. It enables safe and quick transactions at stores with the Ola Money PIN. The app is highly convenient if you’re an Ola cab user as the payment is automatically made by the app. Moreover, the app lets you keep a track of all the recent transactions through the transaction history section.
For safe cashless transactions, download these digital payment apps and make your life easy and hassle-free.