Saving Money with Mobile wallet Offers

Remember the old days when the only way to transact was either cash or via cheque? Memories are still afresh when I used to stand in a long queue in bank to withdraw cash. Later getting an ATM card was a huge relief and standing in queues in the bank was no longer required, however, today I find myself standing in an ATM queue :) 

Mobile Wallets

Fast forward to current era where most youth has internet access and are moving towards a virtual world of social friends, online shopping and online payments; an ecosystem which facilitates all this with a few simple clicks. The major player in this cyber space development is the e-commerce segment and other segments mostly revolve around it or have become a part of it. One such service is mobile wallets. In December, 2014 RBI directive has allowed mobile wallets to accept deposit, basic saving and provide remittance. This directive also allowed such payment banks to issue ATM-cum-debit cards to access funds, restricted to a max amount of INR 100,000. 

What is a mobile wallet?

In simple terms, a mobile wallet is a system where users load money into their mobile wallet accounts and then use it at predetermined group of merchants online without need of exposing the banking details to each merchant. But the functionality is not limited; let’s see what India's top mobile wallets have to offer. 

Mobile Wallet

1. Paytm: Paytm Wallet is India's largest online payment service platform with more than 40 million wallets, a number which surpasses total number of credit card holders in India. Paytm started in 2010 providing mobile recharge and utility bill payment services, currently funded by China's Alibaba group and has its own product store similar to Flipkart, Snapdeal etc. Paytm wallet allows user to make purchase on Paytm as well as other leading online sites such as Uber, Bookmyshow etc. Users also get instant cash back as part of promotional offers into their Paytm wallets.

MobiKwik

2. Mobikwik: Mobikwik was founded by Bipin Preet Singh and Upasana Taku in 2009 initially for resolving problems faced by people doing online payments. Today Mobikwik has over 15 million users. Mobikwik allows users to recharge mobiles, DTH, pay bills, buy stuff all just with your wallet. Mobikwik lets you to store sufficient amount in your wallet so that you don't need to go through payment gateways every time you shop. Mobikwik not only helps you to transact on web but also you can pay via smart phone app, SMS or IVR. While shopping online you can even save more money by apply coupons which can be easily found here http://happycheckout.in/mobikwik.com

Oxigen Wallet

3. Oxigenwallet: Oxigen services India Pvt Ltd was founded in 2004 and over a period of 10 years it has created a retail footprint of over 1,30,000 outlets pan India. Oxigen is the first virtual wallet in India to become a part of NPCI (National Payments Cooperation of India). Oxigen wallet makes your wallet even more secure by providing OTP for every transaction to your registered mobile number. As said earlier you can also get extra discounts with the help of Oxigen wallet offers.

With such a huge number of subscribers for these mobile wallets, the day is not far when many of the banking services will be served by these wallets. Banking for customers on the go is the future. Until then, enjoy online recharge, bill payments, and money transfer from any of these wallets and get extra discount by finding out the right coupons for your needs.