digital payments

India is heading towards more contactless digital payments through mobile wallets during Covid 19

It’s no secret that India is rapidly transforming into a digital market. In India, mobile wallets are enabling people to make digital payments. Undoubtedly you will have India’s best digital payments options via mobile wallet. If not, you may want to download one of India’s top digital payments apps and join the country’s digital arena.

1. Google Pay

Headquartered in Google, US and founded by Sujith Narayan and Sumit Gwalani on September 11, 2015. Subsequently, it was renewed on January 8, 2018, this app is one-stop for all your digital payments needs. While the app’s primary purpose is to facilitate easy money transfers, it also enables users to make purchases in stores that support UPI-based transactions.

2. PhonePe

PhonePe is a Bangalore-based digital payments and financial services firm. Sameer Nigam, Rahul Chari, and Burzin Engineer founded PhonePe in December 2015. In August 2016, the PhonePe service, which is focused on the UPI, went online.

3. PayTM

Paytm is an India-based e-commerce payment method and financial technology firm headquartered in Noida, Uttar Pradesh. It was established in Noida in August 2010 with a $2 million upfront outlay by its founder Vijay Shekhar Sharma.

4. Mobikwik

MobiKwik is an Indian app offering a mobile phone-based payment platform and digital wallet. It was established in 2009 by Bipin Preet Singh and Upasana Taku, a husband and wife team. The Reserve Bank of India gave the company permission to use the MobiKwik wallet in 2013.

5. Amazon Pay

Amazon Pay is a web-based payment processing service operated by Amazon. It’s also not only popular digital payment app in India but also around the world. Amazon Pay was launched in 2007 internationally and in India in 2017. Amazon Pay India’s CEO and MD are Mahendra Nerurkar.

6. UPI (Unified Payments Interface )

is an instant payment system developed by the National Payments Corporation of India (NPCI), an RBI regulated entity. UPI allows you to instantly transfer money between any two parties’ bank accounts. Unlike other digital payment apps, it does not ask for a service charge on direct transfer to banks and therefore useful to small enterprises or SMEs.

Hopefully, this list has come to you handy, and you have got all the information about these lucrative digital payment app for online money transactions and much more.

Disclaimer : The article is written on the basis of available market research on public platforms and customer survey. There is no intention to promote any of thee brands.