Top 5 best digital wallets in India

When Demonetization shook India in 2016, the country was forced to fall back on options that enabled cash-less transactions. Doing anything without cash, whether it was buying rations of food, paying electricity bills or phone and dth recharge became a hassle. The unavailability of cash in banks and ATMs caused some inconvenience, but forced the country to wake up to the digital age of mobile banking. The digital wallet industry, which focused on larger cities, saw new subscribers even in the tiny hamlets of India, thus contributing to the birth of digital India in the real sense of the term. 

What is a digital wallet?
A digital wallet is an online service that allows an individual to make electronic transactions. You can directly transfer money from your bank account to your e-wallet and forget the hassle of carrying your debit-card or physical cash as most merchants have provisions for payments via e-wallets. One can buy groceries, do online DTH recharge, or even book flight tickets through these wallets. All you need to do is download the app of the digital wallet of your choice from the app store and load it with as much money as your require.

Freecharge: Launched in 2010, Freecharge gained momentum in the post demonetization era in India. Freecharge is one of fastest growing online payments platform today, thanks to its fantastic cashback offers, ranging from 10-25% per transaction, thus allowing you to save a lot of money.

Paytm: One of the most popular e-wallets in India, Paytm is perhaps the most widely used e-wallet. Paytm services are used by the biggest shopping malls and even small vegetable vendors, and local grocery shops. Furthermore, you can use PayTM to pay your electricity bill and phone bills. Online DTH recharge and phone recharge is also possible with Paytm. The company is known for offering good discounts and great cashback offers.

Mobikwik: Regarded as the pioneer of the e-wallet industry in India, Mobikwik made its debut in 2009, but was quickly overtaken by the likes of Freecharge and Paytm that entered the market in 2010. Mobikwik today is known for its great cashback offers. It is also tied up with several e-commerce companies and offers additional discounts on online purchases of food, apparel and bill payments.

PayZapp by HDFC: Although PayZapp by HDFC Bank entered the market as late as in 2015, it has captured the attention of the smart, digital age spender. Despite being a product of HDFC Bank, PayZapp can be downloaded by everyone. The wallet offers great discounts + cashback on everything from dth recharge offers to offers on restaurants, taxi services, bill payments and so on. 

Chillr: Another app launched by HDFC Bank, the Chillr e-wallet has tied up with over 50 banks across India and is known for providing multi-bank connectivity. You can manage all you bank account with this single digital wallet and continue to make purchases and payments through it.

Cashback offers on the best restaurants in India

You know how we all love the end of season sales that we get across big shopping malls and online websites? We look forward to these earnestly because we can save a lot of money on them. But have you ever been to a restaurant that offers an ‘end-of-day’ sale or gives you discounts? Wouldn’t it be wonderful if restaurants also offered them? If you look closely enough, you’ll find that they do. Yes, there are apps designed that can help you avail discounts at your favourite restaurants. Let’s look at the best apps where you can get deals on restaurants.

Topcashback: Topcashback is an online cashback company that offers cashback on top online restaurant aggregators and several other restaurants. Food Panda and Swiggy are popular restaurant aggregator sites you can use to get great pizza offers on popular international and local chains. You can order food from brands like Faasos, McDonald’s Baskin Robbins as well as from local and posh restaurants in your vicinity. Topcashback gives you cashback at 8% and above across restaurants.

CashKaro.com: While you can order food online and get discounts across a range of restaurants across India, Cashkaro.com goes one step further and allows you to book tables at some of the best restaurants in top cities like Mumbai, Delhi, Chennai, Kolkata, Bangalore, etc., where you can get up-to 50% off on your bill. Wouldn’t it be fantastic to eat at the otherwise expensive Hard Rock Café, where you can get both discount and cashback thanks to Cashkaro.com.

PayZapp by HDFC Bank: How wonderful is to keep your money in your bank account and earn cashback into it. Launched by HDFC Bank in 2015, PayZapp is an all-in-one payment gateway system on which you can shop for everything under the sun; from apparel to food. PayZapp keeps reinventing its cashback offers and is tied up with some of the most popular food franchises in India, including Domino’s Pizza and Pizza Hut. Pizza Hut offers on PayZapp include a whopping 10% cashback or ₹250/- whichever is higher.

Nearbuy.com: Nearbuy.com combines the pleasure of eating at a fine dining restaurant with its discount offers. That you can get cash back at certain restaurants is an added bonus. Cashbacks and discounts are valid every kind of restaurant you can think of; from brunches to buffets and bars to barbeques. You also get great pizza offers. You just need to set up an account on nearbuy.com and let the offers pour in.

CouponDunia: CouponDunia is a trusted site for those looking to save money, get discounts to the tune of 50% on meals or even better, get offers like ‘Buy one get one free’. Additionally it also gives some cashback when you order from restaurant aggregators. You can also get free pizzas with Dominos offers on CouponDunia. The website is also tied up with the curated food provider FreshMenu that offers a vibrant menu everyday across several Indian cities.

Top 4 companies with the best cashback offers

One of the many perks of living in the age of e-commerce is that we can make a lot of savings. There is a magnitude of offers to choose from, you get lots of discounts and if you pay using some credit cards, e-wallets and specific websites, you get a return on some of the money you’ve spent, called cashback. Let’s look at how cashback offers work. 

How do cashback websites work?

Cashback websites pay you a percentage of the total amount you spend when you shop online. Cashback website make money using the concept of online affiliate marketing which means they tie up with companies in the eCommerce space and marketing their products. The eCommerce company offers lucrative sums as a reward for referring them to the customers, and the cashback site in turn passes on a certain percentage of this reward amount to the customers making the referred purchase, via cashback.

Instead of getting a small cashback amount through a cash wallet, you can earn higher cashback by creating an account on any of the below mentioned cashback websites. If you re-route yourself via the cashback website instead of directly shopping from the intended website, your chance of getting a higher cashback amount increases.

Top 4 companies with the best cashback offers

Cashkaro.com: One of the most popular cashback websites in India, Cashkaro has been offering cashback across various e-commerce sites; whether it booking hotels, flights, restaurants and even on bill payments. The immediate cashback processing is what has made this website immensely popular among customers. The cashback is redeemed back into your bank account and you can even use to buy gift vouchers if you like. Popular e-commerce companies tied up with Cashkaro include Flipkart, Jet Airways, Myntra, Expedia, Amazon etc.

PayZapp by HDFC: Nothing is safer than a bank’s secure gateway for making transactions. A product of the HDFC bank, PayZapp is an app that can be downloaded from the app store and can also be used by non HDFC customers. Cashback PayZapp keeps reinventing itself, offering the best cashback offers, ranging from 10% (or ₹250) to ₹700 across various retailers, grocers, taxi services and mobile/DTH recharges. PayZapp’s popular clients include Tata Sky, Dish TV, Airtel DTH, Idea Mobile, IRCTC, and several offline merchants.

GoPaisa.com: Another leading website for cashback, GoPaisa is exteremely user friendly and is tied up with leading e-commerce companies such as Snapdeal, Jabong, Yatra and Homeshop 18 among several others. Another USP of GoPaisa is that it has a referral program and customers can get cashback through bank cheques, shopping vouchers, and even account transfers.

Topcashback: Having made its reputation as a genuine cashback website, Topcashback promises ‘extra’ cashback than its competitors on every online purchase, and rolls out some of the best cashback offers. The company is tied up with over 500 online stores, all of which provide cashback. Plus, there is no minimum pay-out threshold unlike other websites. The cashback is paid through NEFT directly into your bank account.

6 benefits of paying bills online

Do you remember a time when owning a cell phone was a status symbol? When calls per minute were expensive (the missed call was invented) and you’d think twice before sending a message. You’d have to wait in line at the mobile service provider to recharge your phone or pay your bill. Inquiry for offers was also possible only at the stores. Well, these things are so in the past now, they almost seem rudimentary. Today, we do not have to step out of our homes to pay our bills or recharge our phone. Thanks to online bill payment offers like idea postpaid bill payment offer, among others. Here are 6 benefits of paying bills online.

Online bill payment saves time: You can pay your post-paid mobile bills safely and conveniently through various online channels, including your bank’s net banking services. You needn’t visit multiple websites or send checks via mail, nor do you have to go to your nearest service provider, be it Airtel, Idea, Vodafone or Reliance. You can pay your bills on time and save on late fees too.

Online bill payment gives you a host of offers: If you’re looking to save money and earn some cashback, you must look up offers by service providers in association with banks. For example, HDFC bank’s online payment gateway PayZapp has idea offers for customers using the services of Idea Cellular. Customers can get 10% cashback or ₹250/- whichever is higher on their idea prepaid and post-paid mobile.

Keeping records becomes convenient: When you pay your bill online, you can keep all the information regarding payments and billing in one place. There is a section which keeps all your records and history of bills paid, which you can access anytime. You needn’t save a hard or soft copy in your mail because the server does it for you. It reflects every payment done from your bank account and comes in handy in case you need to dispute a payment.

You can research for offers before paying bills: Who would have thought that paying bills can be beneficial. A few mobile service providers also offer bonuses and cashbacks for every bill paid online. You can find these offers with a click of a few buttons. E.g. Idea is a top cellular network provider in India and idea bill payment offers can be found easily on the internet.

Paying bills online is safe and secure: Since your money is routed through online payment gateways with strong and protective firewalls, such as PayZapp by HDFC, CC Avenue, Verified by Visa etc., you can rest assured that your account details are secure and your information remains confidential.

You’re saving the environment… and money: With online bill payments, you are saving on costs like envelope, check and stamps by going paperless and ultimately saving the environment. Plus, idea offers and offers by other service providers are only valid, provided you pay the bills online.

Top 5 payment gateway solutions Indian businesses

The Indian e-commerce industry has flourished in the last two decades. And with this flourishing industry, another industry has emerged that works closely with e-commerce; the industry of electronic payment gateways. These payment gateways facilitate e-commerce companies to accept electronic payments on behalf of their customers through various modes like credit card, debit cards, e-wallets, net banking etc. The money is then transferred into the business’ linked account. Here are some of the most popular payment gateway solutions in India.

Instamojo: Despite entering the market as late as in 2012, Instamojo found a client base very quickly and soon became one of India’s largest gateway service providers. Instamojo has been powering over 300,000 businesses across India and is known for its secure gateway, akin to that of a banking institution. The system is PCI-DSS complaint and one of the easiest to operate. In this world of start-ups and small businesses, Instamojo is a huge hit. It also helps that there are no set up fees.

CC Avenue: Regarded as one of the safest payment gateways out there, CC Avenue is used by almost 85% of the e-commerce companies in India, whether it is Myntra or Snapdeal, Naukri.com or MakeMyTrip. CC Avenue offers a free Start-up pro plan but if you chose the privilege plan, you have to shell out ₹30,000 annually. There is also an annual maintenance charge of ₹1200 on the start-up pro plan, from the second financial year onwards.

Payzapp For Business: Introduced by HDFC Bank, Payzapp For Business is a new age, digital payment gateway solution that allows merchants to bill and receive cashless payments via mobile. You can carry transactions from your cellular phone using two simple steps; merchants can just log in to their dashboard and enter customer details (invoice, bill amount etc.) and send the payment request to the customer. Customers can follow the e-mail/sms link to make the payment via PayZapp for Business. The service is meant to eliminate business delays like relying on delivery services or offering customer credit.

Razorpay: Tied up with popular e-wallet companies like PayUMoney, FreeCharge, JioMoney, Mobikwik and even PayZapp by HDFC, Razorpay has also created its niche identity in the market. Razorpay offers two types of plans to merchants; the popular free standard plan, mostly preferred by start-ups and the enterprise plan that bigger businesses rely on. The company charges a small transaction fee of 2% and onwards, but offers custom pricing to clients with larger transactions.  Goibibo, Quikr and Yatra are Razorpay’s popular clients.

Direcpay: An arm of the Times Group’s ‘Times of Money’, Direcpay was one of the early pioneers in the field of payment solutions in India. The company provides a quick, secure and reliable online payment gateway which is integrated with credit cards, debit cards, mobile payments and net banking to process e-Commerce payments. DirecPay offers three plans ranging from free to ₹20,000 annually. Famous clients include Google India, Rediff.com. PayTM etc.

Banking with different cards in India

Banking has become so convenient and easy in the modern age. In fact, our bank cards have become those objects on which we rely on the most in our everyday lives. You can walk out of your home without cash, but you cannot do so without your card. Whether it is an ATM card, a debit card, or a credit card, each one comes with various special benefits and specifications, making our financial lives easy. Here are the different cards in India which facilitate smooth banking.

ATM Cards: Meant to facilitate bank customers with a sense of flexible banking, especially during non-banking hours, ATM cards are offered by all banks. Besides giving you the flexibility to withdraw money at any given time, ATM cards also allow you to make deposits, transfer money between accounts and check your account balance. You can also get a cash advance on your ATM card and make a loan payment at any time with this card. All you have to do is visit the nearest ATM of your bank. Furthermore, you can use your ATM card to withdraw money at any other bank ATM for a specified number of transactions per month.

Debit Cards: Indian banks issue ATM cum debit banking cards which are backed by either MasterCard or Visa. Debit cards essentially function like a bearer check, in that the amount is immediately debited from your account when you swipe your card at a merchant establishment. To ensure that your card is not swiped without your authorization, you must enter your ATM pin for the transaction to follow through. Additionally, you can authorize the use of your debit card when you travel to international destinations.

Credit Cards: Unlike ATM or debit cards which are issued by your bank with your account, you can get a credit card from any bank, even if you do not have an account with them. You do not necessarily have to link a bank account to your credit card. Credit cards are basically like loans that a user can take on their card. You can put all your expenses on a credit card and pay them monthly. If the dues are paid on time, the bank does not charge you any interest for the money loaned, however if you fail to pay them on time, the interest rate keeps compounding until the payment is completed. Credit cards come in very hand if you know how to utilize them well.

Prepaid cards: If you’re travelling abroad and are on a budget, you could consider purchasing a prepaid card. Prepaid cards are simple in that, you can load a pre-determined amount of money on the card and use it like you would a debit or credit card. You can refill this bank card when it runs out of money and use it again. A Forex card is a good example of a pre-paid card on which you can load money in different currencies.

Save money with the 5 best mobile payment applications in India

One of the biggest perks of living in the digital age is that life has become stress-free. You don’t have to worry about carrying physical cash on you. Everything you need to do, whether it is shopping for groceries, paying bills or recharging phones, can be done at the click of a few buttons thanks to the various online payment solutions. What’s even exciting is that these apps offer huge discounts and cashback. If you’ve not yet gone digital, it is time to do so. Read on to find out the 7 best mobile payment apps in India that you must try.

PayTM: One of the most popular and reliable apps out there, PayTM comes in handy for almost everything; from ordering food online, to booking train/flight tickets and paying bills. What’s more, you can use PayTM for transferring money, paying bills at partner restaurants and even shopping. With over 300 million users nationwide, PayTM has also branched into its own online store where you can get deals of the day and earn cashback on almost every transaction.

PhonePe: You can directly link your PhonePe app to your bank account to conduct transactions. PhonePe is known for offering the easiest solutions for bill payments and mobile recharges. You can pay your utility bills and transfer funds to family and friends or even request fund transfers through PhonePe. The app is specially known for its user friendly interface. It also allows you to earn from referral codes and offers good cashback.

PayZapp: A popular UPI-powered online payment solution, PayZapp was introduced by HDFC Bank in 2015 and serves like an all-in-one app, eliminating the need to stuff your phone with innumerable apps. Popular online market places like BookMyShow, Goibibo, ClearTrip, Flipkart, Big Basket and numerous others have tied up with PayZapp and can be accessed from this single interface. Besides, you can use PayZapp to transfer money to your bank account or with people in your phone’s contact list. PayZapp also comes in handy for paying all kinds of bills.

ICICI Pockets: ICICI bank is another bank that has branched out and introduced its own visa-powered e-wallet that can be used by customers of any bank. Although not as elaborate as PayZapp, ICICI Pockets’ wallet feature can be used for sending money to family/friends bank accounts just by using their mobile number, e-mail id or even their Facebook ID. Funds can be sent instantly using debit cards or internet banking.

Freecharge: One of the first mobile payment apps in India, Freecharge has come a long way since it was first launched in 2010. Freecharge entered the market when the smart phone did and paved way for several similar apps to follow suit. What makes Freecharge interesting is that it has a simple and smooth interface. Additionally, it is known for offering a variety of discount coupons and cashback offers. Several merchant outlets also allow you to make payments via Freecharge.