Top 10 Digital Wallets in India (2021 edition)

Online transactions have become a part of our daily routine now. Especially, post demonetization and during this lockdown period, going cashless is the new trend. India is developing very quickly into a major hub of digital marketing, with the progression of high-speed internet and the government’s Digital India Programme to digitally empower the country.

Digital Wallets have been a game-changer in implementing this program. They provide easy access to funds through mobile phones without the worry of carrying a credit or debit card when going out. Digital Wallets have also made online shopping from home or paying bills easy.

Best digital wallets in India

Here are the 10 best digital wallets in India:

  1. PayTM
  2. Google Pay/Gpay
  3. BHIM App
  4. PhonePe
  5. Oxigen
  6. Mobikwik
  7. Amazon Pay
  8. Jio Money
  9. Airtel Money
  10. Yono SBI



Currently available in 11 Indian languages, Paytm is a digital payment system that was developed by India’s own entrepreneur Vijay Shekhar Sharma in 2009. Paytm stands for Pay through mobile and hence, it has become India’s largest mobile payments and commerce platform.

The digital wallet offers online use-cases starting from phone recharges to simple bill payments, travel bookings to movies, and even events bookings as well as in-store payments at the grocery, vegetable, and medicine shops, restaurants, toll taxes, and parking charges, educational institutions with the Paytm QR code.

GPay/Google Pay

Google Pay

Google Pay or simply GPay is a digital wallet developed by Google and launched in India in 2018. It was developed with the view of in-app, online, and in-person contactless purchases on mobile devices. Apart from this, the app also supports passes such as coupons, loyalty and store cards, bus and other transport passes, identification cards, etc. However, these functionalities are limited country-wise. This app also comes with the secure facility of Consumer Device Cardholder Verification Method (CDCVM).



Developed by the National Payments Corporation of India, based on the Unified Payments Interface, this mobile payment app named after B.R Ambedkar was launched in 2016. BHIM stands for Bharat Interface for Money and is available to its users in 20 Indian languages. The app supports all Indian banks which use UPI, built over IMPS or Immediate Payment Service framework. It was launched to encourage cashless transactions directly to banks as per the Government of India’s scheme. What is different about this app is, unlike other digital wallets which hold money themselves, the BHIM app only transfers money directly from or to bank accounts.



Developed by Indian entrepreneurs in Bengaluru in 2015, PhonePe is a digital payment app based on the Unified Payments Interface. Available in over 11 Indian languages, the app helps users not only send and receive money; recharge mobile, data cards, DTH; make utility payments and pay at shops; and also buy insurance, mutual funds, gold, invest in tax saving funds, and liquid funds. PhonePe also allows users to book tickets for Redbus, pay for Ola rides, and book flights and hotels on GoIbibo through the Switch platform technology. The app currently has over 280 million users. PhonePe also has a license from the Reserve Bank of India for the issuance and operation of a Semi-Closed Prepaid Payment system.



Oxigen Services India Pvt. Ltd. Oxigen Wallet is an Indian fintech company. It allows what it calls a cash administration resolution, basically recharges and bill payments. Oxigen Services was first in India that was allowed by RBI where non-bank wallets could be merged with NPCI providing immediate cash transfer from the Wallet to 60+ banks and vice versa using the Immediate Payment Service (IMPS).



MobiKwik is an Indian digital wallet that was authorized by the Reserve Bank of India in 2013. It performs all the basic online transactional activities expected of a digital payment system. In November 2016, the company introduced the MobiKwik Lite app for mobile phone users in areas with poor internet connectivity and users of older 2G mobile networks.

Amazon Pay

amazon pay

This is an online payment processing service directed towards Amazon company’s own user base. Apart from facilitating in-company services transactions, it also allows users to pay on external merchant websites, apps, and services. It has all the features of a mobile wallet, but for bank transfers, KYC verification is required.

Jio Money

jio money

This mobile wallet was launched by Reliance Jio in 2016. It has the basic features of a digital payment app. The app provides a purchase limit of INR 20,000 per month and does not require any documents in the primary account.

Airtel Money

airtel money

The Airtel Money mobile payment platform is a member of the Airtel Thanks app. It is jointly owned by Bharti Airtel and Kotak Mahindra Bank. This app requires verification documents like Aadhaar or Pan number to sign in. The app facilitates UPI-based payments, provides coupons and the experience to watch movies and TV programs as part of Airtel prepaid or postpaid plan. A setback for this app is that it becomes more valid for Airtel users in India, though others can also use it.

Yono SBI

Yono sbi

This is a digital wallet launched in 2017 by the State Bank of India to promote cashless money transfers. It is a semi-closed prepaid wallet available in 13 different languages for both SBI and non-SBI users. Like other apps in this list, Yono SBI also has all the basic facilities provided by a digital payment app.

All of the above-listed apps can be downloaded through Google Play Store or Apple Store. Apart from the variety of uses, they are user-friendly; give lucrative cashback, faster transactions, split billability, and much more. Paying bills through digital wallets is slowly surpassing credit or debit card transactions. People prefer carrying less cash with them and these apps make that possible. With the growth of e-commerce globally, digital wallets can also play a huge role in overseas transactions for laymen. Our money is now at our fingertips without the worry of losing cash while dealing with big amounts of transactions. Be it at home or work or out with family and friends, digital wallets have made our lives easier and faster.

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