#GoCashless – Top 5 Digital Wallets You Must Start Using Now

Thanks to the ban on Rs 500 and Rs 1000 notes, digital wallets are seeing a huge surge in usage. A bold #demonitization move made by the government to curb black money transactions has indirectly benefited digital wallet services in India.

From shopping for groceries to booking cabs and dining at restaurants, digital wallets are accepted everywhere and hence their rising popularity.

If you are having a tough time standing in long queues before ATMs and fighting for cash exchange at banks, then it is time to go digital.

Here are 5 digital wallets you must start using right now!

Best Digital Wallets in India

1. Paytm

The largest digital wallet service provider in India is the obvious choice when it comes to choosing the best e-wallet. Paytm which started as an online recharge platform has evolved into a massive digital company.

The Paytm wallet is similar to a digital bank account. All you need is a smartphone and a valid mobile number to sign up and start transacting money.

Paytm Wallet

How To Transfer Money?

You can transfer money to mobile numbers and bank accounts through Paytm. Open the Paytm app and click on the ‘Pay or Send’ button.

Ways to Transfer Money

Here are some ways you can transfer money through the Paytm app on your smartphone.

QR Code Scan the QR code in the Paytm sticker at any retailer to transfer money instantly.

Mobile Number – If the retailer doesn’t have a QR code, ask for the number to which you have to transfer money. Then do it through Paytm.

Send to Bank – Money in the Paytm wallet can be transferred to any bank account.

Paytm is accepted as a payment method at major online retailers and other service websites. You can recharge your mobiles and DTH, pay postpaid bills and even pay for cabs with Paytm. Make use of Tata Sky coupons to get discounts on your online payment for Tata Sky DTH subscription.

Transfers on Paytm using QR code and mobile number attract no charge, while transfer to the bank account from Paytm wallet has a nominal charge of 1%. You can send a minimum of Rs 100 to a maximum of Rs 5,000 at one time. The maximum amount you can transfer to the bank in a month is Rs 25,000.

New User Offer – If you are signing up for the first time on Paytm, there is an exciting offer up for grabs. Use the code ‘FREE20‘ while adding Rs 20 to your Paytm wallet for the first time. This will give you an instant discount of Rs 20, which means that you get Rs 20 in your wallet for free.

2. Freecharge

The Snapdeal-owned Freecharge is another popular digital wallet in India. Freecharge also enables transactions only through its app.

The Freecharge app facilitates money transfers to other Freecharge accounts, retail payments, and bank withdrawals.

Freecharge Wallet

How to Transfer Money?

Open the Freecharge app and tap on ‘Pay or Send’ button to start transferring.

Ways to Transfer Money

There are a few ways of transferring money to other Freecharge accounts and to bank accounts.

Mobile Number – Send money to mobile numbers in your contact list. The only criteria for the other person to receive money is that he/she should have a Freecharge account linked to his number.

QR Code – Make payments at retail outlets and shops by scanning the QR code in the Freecharge sticker pasted at these stores.

On-the-go PIN – The on-the-go PIN is a one-time PIN generated on your shopping at retail stores. Simply type in your mobile number in the card swiping machine and then proceed to type the on-the-go PIN which is generated on your phone to make the payment.

Send to Bank – Withdrawals to bank accounts are instant and money can be sent to any bank.

Transfers to bank account have a few terms and conditions which you can refer to from the Freecharge app. The maximum withdrawal from wallet to bank per month is Rs 25,000.

New User Offer – If you are registering for the first time on Freecharge, you can get a 100% cashback on your first recharge. Use the code ‘NOV100‘ on your first Freecharge transaction to get instant cashback of up to Rs 75 in your Freecharge wallet.

3. MobiKwik

The online payment and mobile wallet company, MobiKwik has built its reputation among other digital wallet services in India.

MobiKwik enables transfers to mobile numbers, retail stores, and commercial banks.

MobiKwik Wallet

How to Transfer Money?

Money transfer from the MobiKwik app can be done by clicking on the ‘Space Bar’ at the top which prompts the user to enter ‘Name, Number or Code’.

Ways to Transfer Money

Money from the MobiKwik wallet can be sent to other mobile numbers and bank accounts.

Mobile Number – Mobile number transfer or wallet transfer of funds can be done when you send money to a mobile number. The other number to which you are sending money should be linked with MobiKwik to receive the funds.

Send to Bank – Bank transfers can be done through MobiKwik to any bank account in India.

You’ll have a restriction of making transfers up to Rs 2,000 per day and Rs 10,000 per month on non-upgraded wallets. Use Aadhar Card to upgrade your wallet and increase the transfer sum.

New User Offer – Get 20% extra on the first ‘Add Money’ transaction on a newly created MobiKwik wallet. Use the code ‘KWIKADD‘ to get an extra up to Rs 50 (maximum) on add money transactions through the MobiKwik app.

4. PayZapp

The online payment services linked to HDFC bank makes transfers and bill payments easier and more convenient.

PayZapp makes feasible money transactions to mobile numbers and retail stores.

PayZapp Wallet

How to Transfer Money?

You can transfer money from PayZapp by tapping on the ‘Add/Send Money’ button on the home screen.

Ways to Transfer Money

Bank account transfers are not supported on PayZapp. You can transfer to other PayZapp wallets and pay at retail outlets.

Mobile Number – Transfer money to any mobile number through the PayZapp wallet. The money is transferred instantly.

QR Code – Send money to retail stores by scanning the QR code.

New User Offer – Get a 100% cashback up to Rs 50 (maximum) on the first recharge done through PayZapp wallet. Use the code ‘JESA30‘ to get Rs 50 cashback on your first transaction of Rs 50 and above.

5. Oxigen

The Oxigen wallet is a well-rounded payment application which enables mobile recharges and money transfers.

Oxigen Wallet

How to Transfer Money?

You can start to transfer money from the Oxigen wallet by clicking on the ‘Send’ button from the home screen.

Ways to Transfer Money

Oxigen wallet enables money transfers to mobile numbers, emails, WhatsApp contacts, Facebook contacts and Twitter handles. In addition, you can transfer the money back to bank accounts as well.

Mobile Number – Money transfer to mobile numbers is possible through the Oxigen wallet instantly.

WhatsApp Contacts, Facebook Contacts, and Twitter Handles – You can even make money transactions to WhatsApp contacts, Facebook contacts and Twitter handles through Oxigen.

Send to Bank – Transfer to the bank account is possible from the Oxigen wallet. However, bank transfers attract a transaction charge of 3% on the overall transfer value.

New User Offer – Get a 20% cashback on loading a minimum of Rs 500 to a new Oxigen wallet. Use the code ‘WHITE500‘ to get the cashback on add money transactions.

It’s time to go wallet-crazy!

Geoffrey Ashok
CashKaro Blog