Top 5 Best Cash Wallet or Money Wallet in India
Here is the list of Top 5 Best Cash Wallet or Money Wallet in India. This is a new model of online payment facility used by companies using a mobile or computer. This Cash Wallet is simply virtual wallet where you can preload a certain amount in your account. The money you can spend at online and offline merchants listed with that service provider.
Different types of wallets available and this includes open, semi-open, semi-closed and closed. Based on the facility available, using them you can buy good and services, withdraw cash at ATMs or banks and transfer funds. The biggest advantage is massive rewards in the form of discounts and cash backs.
This is one of the best Cash Wallet or Money Wallet in India. They offer all kinds of mobile recharges, DTH plans, and bill payments facilities. Now they launched a well known e-commerce marketplace in February 2014. Uber, Bookmyshow, and Makemytrip are main partners of paytm.
This can be used for multiple purpose like shopping, travel, entertainment, and food. You can easily send money to anyone with a mobile phone number, and transfer that money into any bank account. You can use debit cards, credit cards, netbanking, and IMPS merchant payments with paytm.
2. Airtel Money
Airtel M Commerce Services Limited (AMSL) offers a semi-closed wallet – under the brand name ‘airtel Money’. This is now very much famous in India and used for many purpose. This prepaid payment instrument do not permit cash withdrawal or redemption by the customer. You can send money, pay bills and recharge, directly from your mobile.
This is a well known e-commerce website headquartered in Mumbai, Maharashtra. This offers online facility to recharge any prepaid mobile phone, postpaid mobile, DTH & Data Cards etc. Recently Snapdeal acquired this and cost around US$400 to 450 million. When you recharge with this the amount returned in form of shopping coupons for retailers like McDonald’s, Barista, Café Coffee Day, Domino’s Pizza,Cromā, Puma, Shoppers Stop and Jet Airways.
India’s largest online retailer Flipkart recently launched its own e-wallet to take on Paytm, Freecharge and such online wallets in India. Flipkart Money is an advantage in the payments space for the e-tailer. Flipkart offers various utility payments options via its online wallet for third party platforms. This is a semi-closed prepaid instrument based on FX Mart, which holds a licence from RBI for operating a prepaid payment instrument till August 2019, is powering Flipkart Money.
MobiKwik is an independent and semi closed mobile payment network. They easily connects 25 million users with 50,000 retailers and more. You can use this wallet for users to add money using debit, credit card, net banking, recharge, pay utility bills and shop at marketplaces. MobiKwik also offers facility for payment with large and small time grocery, restaurants and other offline merchants.