Top 10 highly used Mobile Wallets in India-2020


India's journey in the field of the mobile wallet is making its way towards success. From the launch of 1s mobile wallet, India has now over 15 mobile wallets with over 70 million users. After that, on the way of Digital India, India has never looked back and now India is the world's largest-growing mobile payments market. We are becoming Digital in everything today.  Mobile wallets are used for all kind of transactions.

According to eMarketer, India has 337 million active smartphone users until November 2018.

Now, according to Cisco, by 2022, there will be 829 million smartphone users in India, which will be 60% of the total population.

With so many people using smartphones in India, the use of mobile wallets are also increasing day by day.

Do you know what is a Mobile wallet?

Well, before telling you about the mobile wallet let me remind you of some of your daily activities to give you keen insight.  Remember, the last time you went to a restaurant with your family or friends for dinner. After having a meal, when you were supposed to pay bill did you pay it through your mobile or card? If you used any of the two options, then you know the functions of a mobile wallet.

In simple words, Mobile Wallet, or sometimes known as Digital Wallet, is an electronic device or online service that allows an individual to make electronic transactions. These electronic transactions include purchasing items online or buying something from the store with the help of smartphones.

Best Mobile Wallets in India 2019

There are many mobile wallets exist in India, but only a few mobile wallets are highly famous among Indian citizens.


Paytm is the most popular mobile wallet in India. Paytm is used to do an online payment, online shopping, to book movie tickets, railway, and air ticket bookings. It is also used to order food and to do mobile recharge. Paytm recently partnered with premium educational institutions in India to introduce cashless payments for school fees, bills, and other expenses.  Merchants can sign up for Paytm without a bank account. They can receive money into their Paytm wallets without a bank account.  As a result, Paytm is able to sign up hundreds of thousands of merchants that don't have bank accounts. 


Only like Paytm PhonePe also offers the services of online transactions, but Cashback offers provided by PhonePe is quite different from paytm.  PhonePe is an RBI authorized company and has registered as a partial payment system with RBI. The best part about the app is that you do not have to load the wallet again and again to make any transaction. It is much easier to keep a track record of the incoming and outgoing money via bank statements. The transaction charges are zero for both sender and receiver so the additional cost will not apply. The security features on the app are much better than any e-Wallet available in the market at this time. PhonePe’s association with Yes Bank makes it even more secure. 


  FreeCharge allows its consumers to invest in mutual fund and get easy credit through FreeCharge EMI.  You can use the  FreeCharge  wallet to pay bills, recharge your mobile phone, and purchase goods, book movies on BookMyShow, and tickets on IRCTC, among others. But along with this, the FreeCharge wallet can also be used to transfer money to other users, bank accounts, and to NGOs. It offers some interesting features like "split bill", which allows you to split the amount to be paid among your friends.


Mobikwik is one of the fastest-growing digital wallet systems. Mobikwik has witnessed around 35-40% rise in the number of online traffic in the last few years. Mobikwik's SuperCash is the new format of cashback introduced to pay 10% of the SuperCash amount for every transaction you make using Mobikwik wallet. SuperCash works on the same lines as cashback, the only difference is that it gives you a 5% discount on every transaction.  Mobikwik payment is accepted at more than 5000 restaurants, cafe, supermarkets, gift shops & physical stores.

Google Pay:

Google Pay is a wallet-free way of shopping. It allows its consumers to use their bank account to transfer money from one bank account to other bank accounts, to pay various kinds of bills with the help of a UPI. Its cashback offers are attractive. It is integrated with several mobile banking apps across the globe. Its multiple layers of advanced security prevent fraud and malicious attempts. It's used for in-store, in-app and online payments.

Amazon Pay:

Amazon Pay is a mobile wallet or a digital wallet used to do online transactions for various things like mobile recharge, DTH, electricity bill, landline bill, gas, and water bill. Amazon pay is also used to make payment for the products that you buy from Amazon itself, and we can use Amazon pay for sending money to other users.


BHIM is a mobile application developed by the National Payments Corporation of India (NPCI), built on the Unified Payment Interface (UPI). Bharat Interface for Money is the most popular mobile payment app supports all Indian banks on all mobile devices. The main advantage of BHIM App is that you don’t have to remember the banking details. All you need is a virtual payment address of the payee to make a digital transaction.  The biggest USP for BHIM is that it works across all banks and users do not need to use separate apps in case they have multiple accounts in different banks.

JioMoney :

JioMoney digital wallet and Jio Payments Bank owned by Reliance Industries, used for bill payment, recharge and money transfer. JioMoney is a smart app from Reliance Industries, offering best in class digital payment service with faster checkout, discounts, deals, coupons and cashback. While it offers almost all the feature available on Paytm, it works best with Reliance's stores like Reliance Retail, Digital Express, Reliance Fresh, Reliance Jewels, and other Reliance retail businesses.

SBI YONO and SBI Buddy :

YONO by State Bank of India is a growing mobile phone wallet app that is used for utility bill payment, fuel, travel and shopping. It provides multiple services in one place and hence eliminates the need for multiple apps on your phone. So whether it's banking or lifestyle, you can do it all using the YONO app. The app has over 80 e-commerce companies that include online shopping, flights, train tickets, taxi booking, online education and holiday packages under its umbrella. You can even initiate the cash withdrawal process using your smartphones by using this app. You don’t need a debit card for this. All you have to do is install the app, register and login to set a 6 digit YONO cash pin for withdrawing money from SBI ATMs, designated as YONO cashpoints.

State Bank Buddy is a digital platform offered by SBI, by which customers can simply send or ask money from any of their contacts even if they do not have an SBI account. SBI Buddy can be downloaded from Google Play store by searching for State Bank Buddy by using the keyword "State Bank". You can click on install and download the app. SBI Buddy is another popular mobile wallet for your smartphone to transfer money, shopping and online transaction.

OxiGen :

Oxigen Wallet considered as the first-ever e-wallet or mobile wallet launched in India. The oxigen wallet launched in July 2004. OxiGen FinTech company is one of the major payment solutions providers in India and allows customers to make recharges, bill payment and transfer money through bank and Oxigen Wallet. With the trust of 20 million users and a network of 15,000 online and offline merchants, 170+ Banks and 15,000 modern trade partners across the country it is one of the most widely accepted mobile wallet in the country.

Technologies around the world have been developed only to solve our problems. And the mobile wallet is one of them. Mobile wallets in India are looking to target the year 2019 to set up some new and unbelievable records by helping us to perform a safe and secure digital transaction. Keep your trust on mobile wallets, and you will surely realize that 2019 is a year of Mobile wallets in India.