10 Most Popular Digital Wallets in India 2022

Digitalization is a phenomenon that is changing our lives even while we sleep. From remote working to social media to ecommerce, the rise of internet technologies is transforming every industry throughout the world. This includes financial transactions, which once were dominated by cash and cheque transfers. However, in today’s modern era, the usage of digital wallets is growing exponentially, because of their convenience, ease of usage and rapid transaction capabilities. With the increasing usage of the united payments interface (UPI) and smartphone adoption, there are now numerous digital wallets available in India, among which only the top wallets provide the best service, security, and affordability for its users.


With over 100 million downloads on Google Playstore, Paytm is one of the largest digital wallets in India. Founded in 2010, it allows users to make bill payments, recharge mobile, transfer money to users and merchants, make bookings and much more. It has recently forayed into stockbroking and mobile gaming as well, with its Paytm Money and Paytm First apps. Due to its widespread usage and popularity, Paytm payments are accepted throughout India, making it one of the most reliable and easy-to-use digital wallets in the country.

Google Pay

Formerly known as Tez, Google Pay was rebranded in 2018 and has grown to become one of the leading digital payments providers in India. It has 100 million plus downloads on Google Playstore, and has rapidly gained a large customer base owing to its high security features, seamless user interface and cashbacks. It works by linking an existing bank account, and hence doesn’t require KYC verification. It is one of the most secure and efficient mobile wallets in the industry.


PhonePe was launched in 2016, and its payments are widely-accepted in India. It also has above 100 million downloads, and allows its users to pay bills, recharge and transfer money through UPI, PhonePe wallet or debit/credit card. It has an easy-to-use user interface, and provides many cashbacks and offers to its users. It is a subsidiary of Flipkart, which is owned by Walmart, and is a strong competitor to Paytm in the mobile wallets segment.

Amazon Pay

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Amazon Pay was launched in 2017 in India, and is one of the major digital wallets used in the country. It allows users to pay for their amazon orders, bills, recharges, UPI transactions and external merchants as well. A great unique feature of the Amazon pay wallet is that it offers attractive discounts and cashbacks for orders paid using Amazon Pay on the Amazon app, and also has an Amazon PayLater feature that allows customers to pay for their orders in the next month with no interest charged. Due to these unique features, it is one of the most rewarding digital wallets in India.


Founded in 2009, Mobikwik is one of the established players in the mobile wallets industry. It has over 50 million downloads on Google Playstore, and provides UPI, bills, recharges and payments services. Mobikwik has also begun offering ZIP, and allows users to pay later for their expenditures. It is an Indian startup that is majority-owned by Indians, and is one of the trusted payment apps of India.

Yono by SBI

Offered by SBI Bank, Yono has more than 50 million downloads on Google Playstore, and is one of the popular mobile payments’ apps in India. It allows users to transfer money to other users or bank accounts, pay for bills, bookings, recharges and much more. It is also available for non-SBI customers, and has a mini-statement feature that allows users to view their current transactions. 

Jio Money

Offered within the MyJio app, JioMoney offers bill payments, UPI money transfer and recharge services. It is very beneficial for Jio customers as it allows users to access all Jio services like Jiomart and Jiopay through one app. It offers many discount deals and provides seamless integration between all Jio services, making it a very useful mobile payments app.

Airtel Money

Like Jio Money, Airtel Money is the digital payments wallet launched by Bharti Airtel in 2017. It boasts of 500 million rupees of annual payments on its app, and provides various offers and cashbacks to its 30 million users. It allows users to add and send money, recharge and pay bills, and get access to exclusive offers while shopping online. With Airtel’s renewed focus on digital services, Airtel Money is set to grow into one of the leading payments apps in India.


Freecharge was founded in 2010, and is an experienced player in the digital wallets industry. It is owned by Axis Bank, and has a strong focus on providing the cheapest and fastest recharge and bill payments transactions. It is also accepted at several other merchants, and also offers insurance and investment products on its platform.


One of the leading payments services globally, Paypal entered India in 2017, and continues to gain traction in the digital payments space. Although not a market leader in India, an advantage of using Paypal is that it is widely accepted in foreign countries, making it advantageous for individuals who need to pay or receive money from abroad. It has some of the best safety and security features among all digital wallets, which has made it into one of the leading payments providers worldwide.

That concludes our list of the best digital wallets in India 2021. It is very important when opening a digital wallet to choose a provider that is trustworthy, has an easy-to-use interface and offers great features and benefits to their users. Apart from these top digital wallets, many banks also offer mobile apps for their users, such as HDFC PayZapp, ICICI Pockets and Axis Pay, which allow their customers to conduct transactions online by linking their bank account or credit/debit card. We hope you found this article helpful. If you liked this article, please share and comment below.

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