ewallet apps

Announcement of demonetization in 2016 has completely changed the payment methods in India. And it brings the mobile wallets in the picture. During this time, mobile wallet apps got massive recognition due to a lack of real cash. From that period, the e-wallet apps have never turned back. It has completely transformed the payment criteria and successfully replaced old payment methods.

If we talk about the market size of these e-wallets apps, then stats are highly impressive. According to market research, the Indian mobile wallet market is projected to grow from around USD 16 billion in 2018 to USD 184 billion by 2024, showing growth at a tremendous CAGR of 44% during 2019 – 2024.

In this blog, you will find the best e-wallet apps based out of India for both Android or iOS platforms.

Best e-wallet Apps in India


Whenever someone asks for digital payments, the first app that comes in everyone’s mind is Paytm. Founded in 2010, Paytm has become India’s first mobile e-wallet application that brings a massive revolution in the payment gateway industry. Today, it holds a robust position in the e-commerce payment system and is considered as a highly secure mobile wallet app. If we talk about its users then, currently, the app relishes 39 million daily active users which is more than the combined users of any other mobile e-wallet apps.

Its great features make it a demanding app among the users. The users can quickly send and receive money, can make secure payments with the merchants who have a tie-up with the company. Not only payments but people can also book a bus ticket, movie ticket, bill payments, prepaid recharge and transfer money from their bank account to another. The application has around 100 million-plus downloads on the Android platform.

Features offered by Paytm

In an all-new Paytm App, users will find the following features-

  • Users can set their fingertips as Paytm password
  • Merchants can transfer the sum of 50,000 directly from their bank account
  • OTP requires to log in your Paytm account in any new device
  • Users can now send money from their bank account to another at 0% fee
  • Users can directly invest in mutual funds right from the Paytm application

Phone Pe

After Paytm, PhonePe has become the most preferable and widely used mobile e-wallet apps in India. The application offers the same functionality as Paytm, but one factor makes it unique and demanding, i.e. its cashback options. It provides lucrative cashback and rewards to its users after every payment.

PhonePe was founded in 2015 as a standard e-commerce platform, and later it was acquired by Flipkart. If we take a look at the revenues of this platform, then it covers a significant portion of the market. According to reports, the app has earned an income of 42.79 crores INR (US$6.2 million, 2018–2019). It has become the second-largest UPI payment app in India.

Features included in PhonePe-

PhonePe offer following features-

  • Users can quickly link multiple credit cards and debit cards, there is no limitation
  • Customers can check their Bank balance directly from their PhonePe app
  • Users can make IRCTC bookings and book Ola cabs with the app
  • Consumers can quickly transfer up to 1 lakh Rs. In less than 3 seconds
  • People can transfer money to self (from their one bank account to others) with a SELF ICON feature.

Google Pay

Google has made its entry in the digital wallet industry in 2015. Initially, it was released as Android Pay but later in 2018, it was renamed as Google Pay. It also becomes a popular digital wallet platform and an online payment system in India. The application supports UPI Id, which allows users to pay, send, and receive money via QR code or directly from the bank account.

Users can quickly add their existing bank details in the wallet, and it does not require any additional KYC. It also offers coupons in which people can win money or some other discounts and offers.

Features offered by Google Pay-

  • Quick cashback and rewards on every payment
  • A large amount can be transferred within minutes
  • Link multiple bank accounts
  • No additional charges for transferring money
  • High-end security layers implemented by Google


With the aim of “Making India Cashless”, the Indian government launched its own app in 2016. BHIM stands for Bharat Interface for Money is an instant digital payment app that facilitates secure and easy payments right from the smart devices to the user. The application comes in around 16 languages which makes it more reachable in every corner of the nation. It is based on the Unified Payments Interface that makes it smoother and quicker in sending and making payments.

Features by BHIM UPI-

  • Users receive every transaction history over emails
  • Quick and secure pay by scanning QR codes
  • Users can create their own UPI pin and QR code
  • Robust FAQ section and quick response from customer support
  • Supports both English and Hindi language to resolve customer’s query


As the name resembles, MobiKwik is considered as one of the fastest online payment systems in India. Users can do quick online recharges and bill payments right from mobile prepaid, DTH & data card recharge. Moreover, they can pay their essential amenities bills, including electricity, gas, water, and landline. The platform is not only famous for its recharge services, but it is also known for its offers. Users get exclusive MobiKwik offers and cashback on shopping, fashion. Currently, it has a network of 25 million users with 50,000 retailers.

Features by MobiKwik-

  • Quick recharge and money transfer
  • Excellent cashback offers
  • Users get points after every recharge and bill payments
  • Supports every credit card bill
  • Hassle-Free Cash Deposit up to 60,000 and Cash withdrawals


The mobile e-wallet app introduced by the largest bank of India- SBI. Not just the banking facilities, users can get a bucket of other financial services with this app. YONO SBI let its users to not only transfer and receive money, but also make bookings for flight, train, bus and taxi. They can also do online shopping and pay their medical bill quickly. The app was introduced in 2017 and currently available in two languages English and Hindi. It is a one-stop solution that fulfils all the requirements of users from banking, insurance, investments, to daily shopping.

Features of YONO SBI-

  • Supports paperless transactions
  • The massive amount can be transferred via UPI
  • Users can open an instant account from anywhere
  • One-stop solution for all financial products
  • Quick pre-approval of loan applications


A payment solution app introduced by HDFC bank by which people can take the benefits of making online payments, do recharge, travel, movies, shopping, buy gift cards and many more in just one tap. Users can quickly link their debit card and credit card of any bank with this app and get the best discounts and offers with preferred products. The users can make quick and convenient payments by scanning Bharat QR code with the app.

Features included in PayZapp-

  • Supports in-built virtual visa debit card for online transfers
  • Send money to your loved ones within seconds
  • Detailed insights about expenses activities
  • Offers exciting rewards, loyalty points and cashback
  • Transfer money with just four clicks

ICICI pockets

Pocket ICICI is a VISA-powered e-wallet app; the platforms come with a unique concept. It is not only available for ICICI users, but a customer of any other bank can access its services. Users can relish the services like mobile recharge, send money, shop online, pay bills and much more. Furthermore, they can quickly send and receive money using UPI and manage their Virtual Payment Address directly from Pockets.

Features offered by ICICI pockets-

  • Transfer funds to anyone securely to a bank account and contacts via UPI, mobile number, WhatsApp, email and Google+
  • User can open saving account directly from the application
  • Offer awesome deals to its users
  • iWish deposit promotes future savings with better interest rates
  • Support NFC (Near Field Communication) payments.


With the immersive telecom services, Airtel has brought a digital payment system for its users. It has become the first company in India that receives a validate license from the RBI. Airtel has also become the first live payment bank of the nation that provides outstanding shopping experience to its users. They can make payments through their “My Airtel App” or USSD.

Features by Airtel Money-

  • It comes with two types of accounts Express account and Power account
  • Supports usage limits from 20,000 INR to 50,000 INR per day
  • Users can access LIVE TV, pay bills, prepaid recharges, refer and win via application
  • Users can listen to trending songs and news direct from the application
  • Supports hassle-free and secure online shopping


Freecharge is a digital marketplace introduced in 2010 for enhancing financial services across the country. It offers a range of financial instruments including savings, payments, insurance, investment and lending. Moreover, it is also considered as one of the Simplest & Fastest way to do an Online Recharge for Prepaid Mobile, Post-paid Bill, Data card & DTH. The platform is highly safe and secure, and users will get outstanding discounts and offer on online shopping.

Features offered by Freecharge-

  • Users can pay credit card bills right from the app
  • Users can split their bills and pay
  • Promotes P2P and P2M payments in less than 10 seconds
  • Supports Charity and Donations
  • Users can send and pay via WhatsApp (chat & pay service) as well

So, these are the best Indian mobile e-wallet apps that are ruling the digital payment industry. If you are also planning to build a mobile e-wallet app, then start your project with us today.

Cost Estimation of eWallet Apps in India

If you are wondering about the development cost, then don’t worry, it will not cost you higher. For your satisfaction, here we give you an estimate of the e-wallet app development cost

The Indian app developers are considered as more reasonable developers across the globe. In India, on a per hour basis, the developers cost ranges between $25 to $80. And if you are looking for a complete budget, then e-wallet app development with basic features in India will cost you USD 20000 to USD 25000. If you are planning to build an app like Paytm with advanced features, then it will cost around USD 100,000.

Wrapping up

Undeniably these mobile e-wallet apps have made our life way more accessible and convenient. Today, even the brick and mortar stores are also adopting these solutions to enhance their customer base and create a robust image in the marketplace. Hence, it is high time for your business to create an e-wallet app and offer more value to your customers.

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SVAP INFOTECH is a leading Web and Mobile app development Solutions Company in India. Since its inception, it has worked on thousands of mobile app and web projects and serves clients overseas.