India is slowly moving towards becoming a cashless country with the rise of mobile app development technologies. The availability of smartphones has accelerated the rise in the number of e-wallets. There are many types of digital wallets running in India, few are open, while others are closed.
With the launch of UPI, e-wallets have become even easier, since the transactions can directly take place from the bank account. Here are 3 e-wallets that are contributing towards cashless India.
Amazon Pay tops the list. It was launched in 2017 in India facilitating the users to pay using their Amazon accounts. The users can also shop on Amazon Pay; the site is also linked with several FinTech companies to enable no-cost EMI payment options on the platform.
Google has also launched its pay platform in 2017 in India, initially as Tez utilizing the UPI. Later in 2018, the company rebranded as Google Pay. Though it started late, it has easily grabbed the attention of the audience. Google Pay is currently one of the most used digital wallets in India. This app enables you to send money, pay bills and recharge online via UPI connecting directly with the bank account.
PhonePe was launched in India in 2015 but was able to fetch over 100 million customers in just the span of 4years. PhonePe also uses UPI for making payments easy. Most of the users claim that the app has a good user interface allowing for safe transactions to occur. These three e-wallets are paving a way for cashless India.
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