4 Most Widely Used Digital Wallets In India - 2017

4-Most-Widely-Used-Digital-Wallets-In-India-2017

Digital wallet or e-wallet is just like wallet in our pocket, the only difference is that digital or e-wallet is stored in our smartphone as an app. Digital wallets are more secure than our traditional pocket wallet because there is no fear of money theft. You could install digital wallets as an app on your android/iOS/windows phone and after that you could use these wallets for any kind of financial transaction. After Banning 500 and 1000 rupee notes on 8th November, 2016 use of e-wallets to make payments digitally increased drastically. E-wallets companies are taking huge benefit after demonetization because of cash/currency unavailability in India . Most of the people were facing problems due to less cash availability, here I am going to tell you about some best e-wallets available in India that you could use for digitally payment for your purchased things.

Paytm Digital Wallet:
paytm-karo-2017

After demonetization Paytm is the widely used digital wallet in India. Paytm Company was started in India in 2010 to provide mobile recharge facility by One97 communication; major investors in this company are Ratan Tata and Alibaba. You can installPaytm app on all mobile platforms like windows, android and iOS. Services provided by Paytm are:
1.   You can pay phone and internet bills, electricity bills, gas bills, water bills. You can also recharge metro cards, prepaid phones, and DTH services.
2.   Using Paytm you can book your seat in flight, train, and bus. You can also book your hotels using Paytm.
3.   Using Paytm app/site you could book your favorite movie ticket.
4.   Limit of Paytm wallet is Rupees 20,000, so upto that limit you can do almost all kind of transactions using Paytm.
5.   You can add money in your Paytm wallet from your bank account and could transfer that money anywhere either scanning beneficiary QR code or via mobile number.
6.   Now a days you can use Paytm almost everywhere like restaurants, vegetables store, kirana stores, local shopping complex, book store, petrol pumps, etc.
7.   You can send and receive money using Paytm app.
Freecharge E-Wallet: 

Freecharge is Mumbai, India based e-commerce cum digital wallet. Freecharge was founded by Kunal Shah and Sandeep Tandon on August 2010. Main services provided by Freecharge is recharge and bill payments. Snapdeal acquired this on 8th April, 2015. App is available on Windows, Android and iOS. Services offered by freecharge are:
1.   Postpaid and prepaid mobile bills and recharge facility available.
2.   You can pay your DTH bills.
3.   You could recharge your postpaid and prepaid data card.
4.   You can pay electricity bills for any provider.
5.   You could pay landline phone bills.
6.   You can pay broadband bills provided by Airtel, MTNL Delhi, MTNL Mumbai, BSNL and ACT Fibernet.
7.   You could pay gas bills provided by Adani Gas, Gujarat Gas Limited, IGL, Mahanagar Gas Limited, Siti Energy.
8.   And you can recharge Mumbai metro card through freecharge.
9.   You can send and receive money using freecharge. 

Mobikwik Digital Wallet: 
MobikWik-Digital-Wallet

This is an online payment system cum mobile wallet app available for android, iOS and windows platform. You can add money in the wallet before using it. You can add money using debit card or credit card, net banking, ‘cash pay’ a doorstep cash collection service. This is semi closed wallet authorized by RBI. Services offered by Mobikwik are:
1.   Postpaid and prepaid mobile bills and recharge facility available.
2.   You can pay your DTH bills.
3.   You could recharge your postpaid and prepaid data card.
4.   Electricity bills for Reliance Energy Mumbai, BSES Rajdhani, BSES Yamuna, MSEB Mumbai, Tata Power Delhi Distribution Ltd. And BEST.
5.   You could pay landline phone bills.
6.   You could pay gas bills provided by Adani Gas, Gujarat Gas Limited, IGL, Mahanagar Gas Limited.
7.   Pay water bills for Delhi Jal Board (DJB) and Bangalore Water Supply (BWSSB)
8.   You can pay and accept money using mobikwik app.
9.   It also offers lots of cash back coupons.
10. You can send and receive money using MobikWik. 

Oxigen Wallet: 
Oxigen-Digital-Wallet

Oxigen is digital wallet powered by Oxigen services India pvt. Ltd. This is one of the major online payment solutions in India. It is a FinTech company founded by Pramod Saxena in 2004; headquarter based in Gurgaon, India. Oxigen wallet is first non bank wallet powered by Reserve Bank of India. According to VCCircle, in April 2016, this app claims to have 20 million users, is accepted at around 9,000merchant locations and 10,000 online sites. Oxigen wallet is semi closed wallet. There are two types of Oxigen wallets and both are semi closed wallets:

     ·         Oxigen 10000 Wallet:
Maximum limit of this wallet is Rs. 10,000. You could use this wallet for mobile, broadband and DTH recharge, Utility bills payment like water, gas bills, Movie ticket booking through BookMyShow, online shopping, red bus ticket booking, and many more.

     ·         Oxigen 1,00,000 wallet:
To register for this wallet you need to register online using a valid identity proof (any KYC document). Once your identity will be verified then you could avail following services:
§  Mobile Recharge
§  DTH recharge
§  Broadband recharge
§  Nokia Music Unlimited
§  Book Air/Rail/Bus tickets
§  Booking of Hotel and holiday packages
§  Online shopping across all e-commerce websites where oxygen wallet payment gateway enabled.
§  Between two oxygen e-wallets you could transfer money
§  You could transfer money from oxygen 1,00,000 wallet to bank account and vice-versa from any bank account to oxygen 1,00,000 wallet instantly.

Now India is moving towards less cash and digital economy very fast where digital or e-wallets are playing major role for online/digital transaction. Digital wallets are not only for financial transaction but it is more secure and authenticates user’s credentials.

 Keywords:E-WalletDigital-WalletPayTM,Android-Pay,Google-WalletDigital-BankingDial-*99#Digital-IndiaUPI App

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