In India, the digital wallet is an emerging concept. It is becoming the next alternative to the use of credit/debit cards and is set to overshadow the use of traditional payment methods. A digital pay wallet can be defined as an electronic device or online service that allows electronic transactions made by an individual. This can include buying items online with a smartphone or a computer. There is also a provision of connecting the bank account with a secure digital wallet.
Payment wallets that ensure safety
Paytm
Paytm is the safest payment wallet in India. It is one of the largest mobile commerce platforms that facilitates its customers with a digital wallet for storing money and making faster payments. Other than using it for eCommerce transactions, the Paytm wallet can also be referred to for the payment of bills, money transfers, and get services from the retail industry, travel, and entertainment.
PayUMoney
Coming next is PayUMoney. It is a free payment gateway solution for merchants to get payments via debit/credit cards or net banking from the customers. The payments are done immediately and get the settlement in the preferred bank.
Google Pay
Google Pay is also a digital wallet where payments are done online. It was developed by Google with a motive to empower in-app and tap-to-pay purchases on mobile phones. Users can make payments through their Android phones and tablets.
