5 mobile wallets in India that do more than just bill payments

By Rohit Arora, PCQuest

Despite being at a nascent stage, Mobile wallets have managed to maintain a large user base in India because they offer an easy alternative to handle cash and credit/debit cards. They let you perform cashless transactions for the goods and services you purchase.

But what benefit they offer over the traditional online transaction model? Let’s see. You must have carried out various transactions over the internet and have a hard time remembering or entering your card credentials for the same. And many a times you would have jumped to step one due to a poor internet connection, which is the added dose of irritation. Besides this, your banks charge a sum of money for the transactions you carry on the internet. These are some issues which a mobile wallet tends to address.

Mobile wallets follow a semi-closed model in which users load money and make payments to the merchants that are in operational tie-ups with the mobile wallet service provider. You just need to load the money in the mobile wallet from your bank account and you are free from the hassle of entering your card credentials for every purchase you make.

Having said that, let’s check out some of the mobile wallets that can make your life convenient and make your smartphone a bit smarter.

paytm
This mobile wallet lets you bargain directly with sellers over chat. We tried and got 25% discount for an item!

paytm mobile wallet

Not only can you pay your bills
through this, but explore lots of products to buy on their website and mobile app.

Paytm is the most widely used mobile wallet in the country with over 25 million active wallets. The service allows consumers to buy mobile recharges, tickets, deals and shop across 18,000 merchants covering sectors such as fashion, electronics, holidays, hotels, etc. It is like a virtual market place with everything you need at one place and the option to pay right after you make a purchase. The platform is available across most of the popular mobile applications such as Bookmyshow, Uber, MakeMyTrip and FoodPanda, etc. as a preferred payment method. Paytm’s user interface resembles with an e-commerce application. You have the Account option to see your profile, orders, favorites, settings, etc., wallet-to check balance, add, and find deals at the bottom. Services such as Recharge and e-commerce categories are positioned at the top and on the side bar. Paytm offers payment through most of the nationalized and leading private banks. Besides all these features, one feature that is quite unique in Paytm is the Chat and Bargain. You can select an item and tap on bargain option, which will open a chat box where you can ask for a discount directly from the seller. We tried it and the seller offered us a 25% discount for an item.

 

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