E Wallets In India, List Of E Wallet Companies, Type, Rating

Mukesh Jindal
Written by Mukesh Jindal

e wallets in India: India after the demonetization faced a number of challenges mostly the people who used to carry cash along. As the people were not habitual of the Use digital transaction. As the step of demonetization was to overcome the issue of corruption in the country to deal with the situation was not so easy. So it was the need of the time to overcome the issue of corruption among the politicians, officials.

e wallets in India | SarkariNiti

With the demonetization and the anti-corruption policies launched by the Narendra Modi current Prime Minister of India. So came the trend to make use of the E-wallet to avoid the use of cash.

Also, Read DigiLocker Log In and Registration

Benefits for Going Cashless/ E wallets in India

The following are the benefits which one going cashless or make use of the E-wallet. As there are a number of benefits for the cashless transaction. Read the points below to know about the Benefits of making use of e-wallet.

  • No Counterfeit – No need to make use of the paper currency which is difficult to identify and lead to pull out the economy of the country.
  • No Black Money – The record for every transaction will be available with the government and it will lead to keeping a check on the issue of Black money as the people e-wallet is transparent system and records are maintained for the same and also saved for future.
  • No Tax Evasion – The other issue after the black money is tax evasion as due to the black money no proof for the income so the people are not liable for tax paying for the income. Government lost tax recovery in that situation which leads to the multitude the activities such as conducting foreign trade,  international Trades, infrastructure development, purchasing weapons and more. With the use of e-wallet for every cashless transaction, a record will be maintained as mentioned above so the income tax department can track the record so it will ease and increase in the tax amount.
  • No Cross-Border Terrorism – Terrorism and the black marketing will also be tackled with the use of the cashless as the counterfeit currency will be removed and in this way, we can get rid of the two issue mentioned.
  • No Harm to Nature – As the cash currency make use of the paper to make it which leads to the destruction of the natural resources with the cutting of trees. As with the use of Digital wallet India now it will reduce the use of cash currency and so it will save the trees and nature or biodiversity.
  • Cost Reduction – The huge amount spend on the printing of the cash currency will be saved as the use of cash will be reduced with the use of the e-wallet. As crores of rupees were spent on the printing of the cash currency and it will boost the economy of the country.
  • Minimization of Loss – The use of the e-wallet will also overcome with the loss of value as using the paper currency leads to the wear and tear with use so a huge amount of currency gets destroyed in the handling process. so the issue will be resolved completely with the use of cashless transactions.

Cashless transaction methods

The following given are the cashless transaction methods which one can make use if you are interested to make a cashless transaction for the items or things to pay for them.

  • USSD transactions with the use of mobile phone, smartphones.
  • Unified Payment Interface(UPI) needs a smartphone.
  • Debit Cards can be used.
  • Credit Cards can be used.
  • Making use of Net Banking.
  • E-Wallets is another method

All the methods mentioned above are the methods of which will help you to make cashless transaction anywhere and any time.


First you should be aware of the E-wallet(online payment wallets) as the wallet is the used to keep money in it to make use of it to pay for service or while buying something as same as the e-wallet you can pay for the service and buy things by making use of e-wallet but the major difference is it is not in the form of cash or paper currency. As e-wallet contains the electronic medium to pay for the services you have availed.

As various types of e-wallet services methods have been mentioned above, which you have read above. You can make use of any of the above methods for pay for the services as it is the part of e-wallet process.

cash in the e-Wallet

The cash in the wallet is explained to you with the awesome example below:

In case you have an internet banking activated so you will able to check the balance in the account available, say INR 58,789.45

That is the amount of contained in your account as it reflects the value or the amount stored in the account.

Similar is with the e-wallet only the amount will be reflected you which would be available in your accounts means only the figures and every time you make use of the e-wallet and pay for the goods or the services the amount will be deducted for them and balance will be shown to the user.

As if you have an amount of INR 2,000  in your e-wallet account and you have made a recharge for the phone and paid using the e-wallet, say INR 500, then the amount will be deducted from your account and the balance of INR 1,500 will be shown to you in your e-wallet account.

 Balance in e-Wallet 

The answer to the above question is available below. Check the article below to know where does balance in wallet come.

  • As you have to register yourself at the E-wallet companies. ( You will be guided, the e-wallet companies below in the article)
  • After registering with the e-Wallet company you have the option of ‘adding money’.
  • You have to Select the amount of money you want to add to your e-wallet account.
  • Then you can make use of the bank account or the debit card, credit card or using the internet banking to add money to the e-wallet account.
  • Select the desired option.
  • If you have opted for the card then enter the CVV code.
  • In case you have opted for the Net banking login your bank account to make the authorize payments.

Use of e-Wallet

Almost all the things which you can do by making use of the cash currency can be done with the e-wallet and out of the wide range of services which can be availed using the e-wallet are mentioned below for the reader at the page below:

Have a look at the points to gain more.

| SarkariNiti
  • Recharge your prepaid and Postpaid phones, landlines.
  • The bills such as electricity, water, gas, broadband, landline, can be paid by making use of e-wallet.
  • You can even Pay the schools, colleges fees.
  • You can buy tickets for a flight, train, bus more online by making use of e-wallet.
  • Pay for Hotels services, rooms etc.
  • Transfer money to friends and relatives, family members ( as both the sender and receiver should have the same e-wallet)
  • Pay for the Movie tickets, food etc.
  • As you can scan the barcode of the service provider using a mobile phone to pay for the service you have availed.
  • Online shopping can be done as E-commerce is another advantage of using e-wallet.

Also, Read Wonderful Article On Aadhar Pay Written By Our Team Member Simarjeet

e-Wallet Companies in India

As given below are few E-wallet companies in India.  You have been given the table for the e-wallet companies which include information about the company name, industry type, mobile app with the rating of the mobile app for an e-wallet.

e-Wallet Companies in India | SarkariNiti
e-Wallet Industry Company Bank Transfer  Mobile Platform Overall Rating 
Paytm Private One97 Communications Yes Android, iOS, Window, Ovi, Blackberry 4.4
MobiKwik Private One MobiKwik Systems Private Limited Yes Android, iOS, Windows 4.2
Oxigen Wallet Private Oxigen Services India Pvt. Ltd. Yes Android, iOS, Windows 3.7
Citrus Wallet Private Citrus Pay Yes Android, iOS 3.9
ItzCash (itz e wallet) Private Itz Cash Card Ltd. Yes Android, iOS 4.4
Freecharge Private Snapdeal No Android, iOS, Windows Phone 4.3
Axis Bank Lime Banking Axis Bank No Android, iOS, Windows Phone 3.6
Airtel Money Telecom Airtel Yes Android, iOS 4.2
ICICI Pockets Banking ICICI Bank Yes Android, iOS 4.1
Jio Money Telecom Reliance No Android, iOS, Windows Phone 4.2
mRupee Telecom Tata Teleservices Limited Yes Android, iOS, Windows Phone 3.7
SBI Buddy Banking State Bank of India Yes Android, iOS 3.9
Vodafone M-Pesa Telecom Vodafone Yes Android, iOS, Windows Phone 4.2
HDFC PayZapp Banking HDFC Bank Yes Android, iOS 4.0

About the author

Mukesh Jindal

Mukesh Jindal

My name is Mukesh Jindal, and I am from New Delhi, India. I am an engineer by profession. I am employed by an IT company in which I work. My topics of interest include technology, mobile, and apps.

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