When we were younger, the only form of payment was the traditional cash method. You bought something and you handed over cash to the vendor. But the way we transact has changed drastically in this new digital era, largely thanks to the money transfer apps.
Sending or receiving money is easier, quicker and safer now. You don’t need to wait in long queues in a bank or a post office to transfer money even though that’s also an option. You can use one of the top 10 reliable money transfer apps in India instead of transacting digitally. “Go Cashless” is the new slogan that’s sweeping Digital India and simplifying our lives.
For a hassle-free money transaction, let’s find out the best money-transaction apps that you can find on Google Play or App Store. But before that, let’s discuss what money transfer apps are and why they matter, if at all.
10 Best Money Transfer apps in India
What Are Money Transfer Apps?
Digital money transfer apps, or e-wallets, help you to process cashless transactions from your smartphone, tabs and PCs. But some e-wallets support web transactions as well, such as PayPal. These wallets or money transfer apps allow you to transfer money from one place to another through the internet. And the process is also effortless. Just link your mobile number with the wallet and start transacting. Here’s why these apps are so popular.
- Cashless transactions: You won’t have to carry cash or coins with you wherever you go. A small tap on your phone can help you send the accurate balance effortlessly.
- Cashback: Often, digital money transaction apps provide instant cashback after you complete a transaction. The cashback will be added to your bank account through the same wallet you initiated. Sometimes you also get coupons and vouchers from brands after completing a certain number of transactions.
- Payments are secure: All money-transfer apps provide instant transactions via a secured payment getaway so that your money is always secured. However, if you encounter any problem, feel free to ask for technical support through phone or chat.
Now that you know what money transfer apps are and their best benefits, let’s dive into the list of Top 10 Reliable Money Transfer Apps in India.
PayTM is undeniably the most popular e-wallet in India and probably the oldest of them all. Paytm allows you to store your money in the digital wallet but apart from that, you can do online shopping, pay bills, transfer money, check your bank balance, and more. Paytm has more than 160 million downloads in Google Play Store and has a 2.6M Rating in App Store.
The app allows you to pay merchants, retail agencies, travel agencies, and more instantly. And, most use it as the basic digital transaction solution all over India. Recently, Paytm has launched its UPI solution that allows you to transfer funds to a customer or vendor through your Paytm app linked to your bank account.
2. Google Pay
Google Pay is comparatively a new kid on the block but has made serious inroads into the market. It offers more payment facilities with the assurance of Google. Initially, it was known as Tez but later the name was changed to Google Pay after being taken over by Google. Post the takeover, the money transfer app gained popularity and customer trust.
As of now, Google Pay is one of India’s largest and best digital wallets. It is a hassle-free digital payment solution that allows you to link your bank account to the app so that you can process transactions through UPI, effortlessly. You can recharge your phone numbers, pay bills, shop online, and more with Google Pay. One thing we like about this app is it gives real cashback and vouchers/coupons after completing transactions. Google Pay has more than 100 million users in India and is available in Play Store and iOS.
PhonePe, another highly-rated money transfer app in India, was recently taken over by an e-commerce retail giant, Flipkart. It was launched in 2015 and instantly struck a chord with the common folks. Like Paytm and Google Pay, it offers bill payments, easy mobile or DTH recharge, scanning QR codes for completing payments, and more.
PhonePe has an easy and user-friendly interface, making it easy for you to transfer up to 1 lakh rupees per transaction. Also, you can check your bank balance, add multiple bank accounts, and add a beneficiary account. PhonePe also offers cashback and refunds after completing payments. If you are looking for a secure digital payment app in India, give PhonePe a try.
4. Amazon Pay
Amazon is the world’s most recognized e-commerce store. Even though Amazon’s digital wallet Amazon Pay has been around since 2007, it has entered India after a decade. Currently, Amazon only accepts payments through Amazon Pay unless you have a credit or debit card. Unlike other e-commerce stores in India like Myntra, Flipkart, etc. Amazon does not provide you with the option to pay using PhonePe or Google Pay UPI.
Instead, you will have to own an Amazon Pay account if you want to buy something from Amazon without using your credit card. But in general, you can use Amazon Pay like any other digital payment app to initiate transactions, book tickets, watch movies, listen to music, etc. Besides, Amazon Pay also provides cashback offers and various discounts. You can download Amazon Pay from the iOS and Android app stores.
Mobikwik is a Gurgaon-based Indian digital app that allows you to store money and process payments to various merchants and other Mobikwik users. It is safe, free, and a fast digital payment app that allows you to transfer money within a few seconds.
Mobikwik is available in Android, iOS, and Windows. Feel free to use it to recharge your mobile, make EMI payments, buy tickets, pay your bills, etc. Mobikwik, currently, has 25 million users, making it one of the leading money transfer apps in India. And like any good digital payment app, Movikwik provides cashback and discounts after each transaction.
With Freecharge, you can pay bills, recharge your phones, make mutual fund investments and give donations. It enables you to send payments to merchants including Crosswords, Shoppers Stop, Cinepolis, McDonald’s, and many more.
When I first saw Freecharge, I thought it allows you to recharge your phone for free. But it works like any other digital payment app we have mentioned in the list. The app also offers discounts and cashback depending on the transacted amount. Download Freecharge from Google Play Store or App Store.
7. HDFC PayZapp
HDFC’s PayZapp is another digital money transfer app that has become quite popular over the years. This app is mainly for HDFC customers to allow them to initiate transactions with other PayZapp users.
Even though it does not offer monetary benefits like other apps, you can manage your beneficiary accounts, pay bills, book hotel rooms, buy flight tickets, check account balances, and more. Normally, PayZapp offers discounts on purchases from select merchants. You can expect extra discounts for purchasing a range of digital products with the SmartBuy feature.
8. Jio Money
Jio Money not only allows you to recharge your prepaid and postpaid connections but also lets you transfer money to other Jio Wallet users. Jio Money links your bank account to the app through your phone number so that whenever you are processing a payment, the app will deposit or withdraw the amount directly from your bank account. Rest assured of real cashback, discounts, and coupons, when you pay bills and shop online using Jio Money.
9. Ola Money
Ola Money and Jio Money have certain similarities. Both come with an easy-to-use interface and multiple mobile wallet options. You will have to transfer your money to your Ola Money account and then that money will be used to transfer to your friends or merchants. Ola Money also uses the balance when you pay for your Ola rides. But even when you don’t take Ola rides, you can still use Ola money to pay bills, recharge your accounts, and more.
10. Airtel Money
Airtel Money is the only app on our list that creates a Virtual Payment Address (VPA) and MPIN to allow you to process a transaction safely. Online transactions cannot get any safer than this. This app does not require you to add beneficiary accounts to initiate payments. But once the VPA is available, you need to register it using your bank account and then provide your name and phone number like usual.
S, that was our list of the Top 10 reliable money transfer apps in India. But other notable options are also readily available, such as ICICI Pockets, Yono (By SBI), PayPal, and more. However, you won’t require that many digital payments options because PhonePe, Paytm, and Google Pay are the most trusted digital money transfer apps out there. If you want to process international payments, use Paypal, the world’s largest payment platform.
People are also reading: