Isn’t it embarrassing when you search in your wallet, and there’s no cash after a beautiful dinner? Of course, it is. Why wait outside an ATM for cash withdrawal when you can easily access the top Mobile Wallets and Digital Payment Apps. The ease and convenience of secure and cashless payment methods are right in your pocket with digital payment applications.
Apart from such situations, the advent of technology in money transfer applications has also made other baking transactions easier for everyone. Online transactions have become the lifeblood of the economy in this digital era. And it makes sense for you to use a secure mobile payment system to carry convenient transactions.
Now, sending and receiving money in India (and abroad) has become just a matter of a few seconds or minutes because of Money Transfer Apps.
In this blog, we will dive into the 10 Money Transfer Apps(Digital E-Wallet) in India that you can use for cashless monetary transactions to your near and dear ones in times of urgency in a hassle-free manner.
List of Top Online Money Transfer Apps in India
Paytm
Paytm is a must app for everyone who wants to reap cashback benefits on almost every cashless transaction. Paytm is a secure mobile payment system that offers its users a streamlined experience in transacting online. It has also become an essential part of various business merchants who can now accept up to Rs. 50,000 directly in the bank accounts. Some of the features or benefits of this money transfer app are:
• Scan and pay option
• Link with an existing bank account, credit card or debit cards
• Manual money transfers to bank accounts
• Instant cashback on certain transactions
PhonePe
Flipkart’s PhonePe has become a favorite app for many who prefer making online payments. Yes, Bank powers the Unified Payment Interface (UPI) system of PhonePe. With the help of this extraordinary digital payment application, you can easily send and receive money safely and securely. It means you can quickly run out of cash as PhonePe’s e-wallet has got your back. One can promptly pay utility and postpaid bills along with the facility of the easy phone and DTH recharge benefit with this app. Some of the features of this banking app are:
• Safe, secure and free online transactions
• Allows you to manage bog transactions
• Convenient fund transfer
GooglePay
Google Pay is among the top banking mobile apps that offer you different ways to make your customers’ purchasing experience faster, hassle-free, and more rewarding. Its powerful-yet-sophisticated suite of mobile payment incorporations assists you to connect with customers to enhance sales and brand recognition. The prominent features of GooglePay app are:
• Fast and easy purchases
• No transaction fees
• Faster, easier checkouts in stores
BHIM App
If you are looking for the best banking apps 2020, then look no further than the BHIM App. PM Narendra Modi took the Bharat Interface for Money (BHIM) app initiative in 2016. The app was launched to help users in making hassle-free cashless payments and ‘go digital’. One can easily make payments via this app with the registered mobile number and linked bank accounts. The benefits or features offered by this app are:
• Easy transfer of money to friends and family in no time
• Scan and pay option
• Shop or pay in just one tap
• Check bank balance and payment history
TransferWise
TransferWise app is another essential app to consider in the list of the top money transfer apps. The primary benefit of using your TransferWise linked account over conventional accounts is that you won’t be charged international money transfer fees or contemptible exchange rates. You can easily send, receive, and convert monetary currencies all in a single account. The user will always get the real exchange rate and the lowest possible transactional fees. One can also invest the money in the remaining balances across the world with the TransferWise debit Mastercard. Some other benefits of this app are:
• Transparent transaction costs
• Convenient for business and personal use
• Safe and secure transactions
Amazon Pay
Amazon Pay is a digital payment application that uses the stored payment solutions in a user’s Amazon account to check out online without needing additional information or data entry. A user can use this app both on Amazon and over different third-party eCommerce platforms. It is a safe and secure payment option for online shoppers. Some of the benefits of this app are:
• Improved customer trust
• Provides omnichannel payment modes
• Hassle-free and secure transactions
Mobikwik
Going cashless has become much more convenient and hassle-free with the best money transfer app, Mobikwik. It has made it easier and super fast to let your smartphone act as a wallet. It is a digital payment application that stores money and links it with respective bank accounts from which you can quickly pay, transfer, or receive in payments in a few taps. It’s that simple. Some of the prominent features of Mobikwik(payment app) are:
• Easy phone, metro and DTH recharge
• Enhances finances
• Direct money transfer to banks
• Book instant bus tickets
FreeCharge
With digital transactions by FreeCharge & its regular updates, you are aware of your overspendings and are always notified of what & where you made a payment. With digital wallets like FreeCharge, the financial dependability is traceable. It is named among the best Money Transfer Apps in India because it allows you to transfer money online while chatting with your loved ones. The users of this fantastic app like the Chat-n-Pay feature of this app. Some of the other benefits of this app are:
• Split bill option
• Money transfer via Whatsapp
• Digital donations
• Transit from cash to e-cash
Final Words
Money transfer space is a competitive industry. The top banking mobile apps in India avoid the high interest and exchange rates of linked bank accounts that are, specifically, vertical in various remote areas of the USA or Canada. These merged banks provide money transfer services at extremely low to nil cost to customers making online money transfers cost-effective. Digital payment applications are as secure as bank transfers because specific financial regulations protect them. It also removes the hassles of visiting banks and standing in long queues. Some of the apps can also used for Online Recharge and Bill Payments in India.
