A few years ago, money transfer used to be very daunting and uncertain. Standing in long queues in ATMs was a very common ritual. Now with online payment apps, money transfer has been easier than ever. Here is a review of the best payment apps in India as of 2021 that have wallet, UPI and help you pay bills and at stores.
But before moving further, let us get to know what is an online payment app and why do we need one?
Mobile Payment Apps
Online payment is the exchange of money via the internet facilitated by a highly active security payment gateway or payment service provider.
These online money transfers now can also be done via mobile applications know as e-wallets and some of the popular ones are Paytm, Google Pay, Amazon Pay, JIO Money, Payzapp, etc. Those e-wallets can either store money before the transaction or the individual’s bank account can be linked to the wallet.
You can pay online using an e-wallet either by scanning the QR code or using the registered mobile number.
You must have come across multiple online payment apps but here I am going to show you some of the trust-worthy ones that you can rely upon. These are either from Tech giants such as Amazon and Google or have over a period of time built a name and trust for themselves such as Mobikwik.
1.) Google Pay
You may have heard of Google Opinions that gives you money for answering questions. Have you come across GPay?
Google Pay is available as both Android payment app and iOS compatible online payment wallet application where you can send or receive money without any fee, straight from your bank account to almost anyone.
Starting from online purchases to monthly bills, using Google Pay you can make payments whenever and wherever you see UPI or GooglePay scanner. Google Pay works with all major banks that support BHMI UPI. All you need is the registered SIM mobile number of your bank account should be within that mobile phone.
You can earn extra rewards and cashbacks with EACH payment or money transfer you make! Here is how much I made for my usual money transfers. Plus you get a lot of coupons and deals.
This also claims to protect all the payment information in secure servers. Credit or debit card details are not stored on the phone or shared with the merchant while using the app.
Sign up with link below to get a reward on your first money transfer of any amount.
It was the first e-wallet in India before UPI was introduced. At a later stage, UPI too was included.
Having over 150 million users in India, this Indian digital wallet is also available in over 10 Indian languages and offers a wide range of rewards and cashbacks.
You can use Paytm wallet for the following:
- UPI Money Transfer
- Wallet payments
- Quick Loans using Pay Later
- Mobile, DTH, Broadband bills
- Book Gas
- Pay Insurance, water and electricity bills
- Buy Movie, Flight tickets
- Buy from Paytm Mall
- …and many many more
Signup for Paytm below to get rewards upto Rs.100 on your first transaction.
PhonePe is another UPI based digital payment service available in India linked with the user’s bank account, similar to Google Pay. This is a fast, safe, and secure digital wallet that makes money transfer a lot easier. Providing all the similar services like payments, money transfer, recharge and bill payments.
It is also available both on android and IOS devices.
Recently, the company has also launched Liquid Funds, Super Funds, and 7 other curated MF category products. Travel and Coronavirus insurance are some of the insurance they are offering.
4.) Amazon Pay
Owned by Amazon, Amazon Pay is an online payment processing service that gives users the facility to pay with their Amazon accounts on external merchant websites.
It uses the payment details stored in the Amazon account, such as credit cards or direct debit card account, or UPI in India.
The merchant only receives information required to complete and support a transaction that might include name, email address, and shipping address.
Similar to Paytm, Amazon Pay allows you to buy Insurance, book gas, pay bills, transfer money etc. You can add money to your Amazon wallet and use that for bill payment or to buy on Amazon.
Earn plenty of rewards, cashbacks and discounts on normal spends with Amazon Pay. Sign up using link below to get started.
PayPal is an American online payment company used for money transfers. Having excellent security, one can receive and request payment from all over the world within a few minutes, almost all countries accept PayPal.
It also offers easy tracking of income and other financial activities. PayPal’s international transfers have made it one of the greatest and widely used payment app. PayPal is supported as iOS paymenn app in India and also available as an Android payment app in India. Both versions of the mobile payment wallets come with highly secure encryption technology and fraud protection facility.
Payment transfer limits up to $15,000/month. PayPal offers free to and from money transactions to linked accounts while charges are applied with the unlinked account.
Compared to others Paypal is the best business payment app in India. It allows for businesses to quickly get money from customers, reconciliate bills, issue invoices all from the payment app for businesses.
6.) Apple Pay
Apple Pay is another great money transfer gateway that works with all Apple devices providing secure and well-encrypted digital cash transactions in apps and online stores.
It allows adding credit cards and debit cards to the Wallet app to operate fund transfers. One can add up to 12 cards to this app.
While there is no fee for debit cards, a standard 3% credit card fee is applicable on the amount funded. This app is supported only on IOS devices which limits its vast usage in India. It does not look like an Android payment app will be available anytime soon.
Apple pay wallet is backed by Apple’s secure technology and plus offers a lot of integration options with your Apple watch and phones for tap to pay in stores.
Freecharge is an Indian eCommerce payment app earlier known for instant mobile recharge. You add your credit card or debit card details to make an easy account transfer with Freecharge UP ID.
With Freecharge wallet, you can pay across multiple categories such as online shopping, booking tickets, bill payment, etc.
This IOS and Android compatible payment app also provides the facility to buy stocks in mutual funds and also makes investments with SIPs with its safe and secure payment gateway.
8.) Mobikwik App
Mobikwik is one of the well known user-friendly payment apps In India for instant secure money transaction. Offering instant personal loans is one of the unique features of this mobile wallet app in India.
It also offers online insurance which includes life insurance, syber fraud insurance, etc.
Other payments include online recharge, bill payment, online shopping, money transfer, etc. Unlike GPay or PhonePe, Mobikwik is not UPI registered.
9.) Airtel Money
Airtel Money is a digital wallet by Airtel payment banks that allows users to make payments using the My Airtel App. This iOS and Android compatible UPI-based app offers all the similar services of payments like online shopping, banking, money transfer, etc.
You can use the app even without having a bank account.
This app can also be used without any internet connection. Just dial *440# to use the app menu.
Sign up clicking here to get Rs.50 free on your first bill payment using Airtel money payment app.
10.) ICICI Pockets
ICICI Pockets is a visa-powered payment gateway launched by icici bank that uses debit cards and credit cards to add money to its wallet.
Like any other payment apps, this can also be used for online payments like bills, mobile recharge, ticket bookings, etc. This e-wallet app is compatible with all bank cards.
It also comes with a physical shopping card that can be used to shop on any website or retail shop.
Apart from these above-mentioned apps, we have a bunch of other additional payment forms with unique features as an add-on, such as money, payUmoney, Ola Money, YONO SBI, Oxygen Wallet, etc. These apps can be used to make safe, secure, and easy payments along with their own unique features. The ultimate goal of these electronic payment gateways is to make money transfer cashless and hassle-free.