Top 10 Payment Transaction Applications

Top 10 payment transaction applications

Over recent years or let’s say over the past one year, during the currency shortage and significant inconveniences following up demonetization, India’s dependency on cash has been reducing as the digital economy grew significantly.



The first ever e-payment service was introduced in the 90’s (Millicent, CyberCoin, etc.) with the motive to implement electronic cash alternatives such as e-money, digital cash, etc.

As years went by the evolution of payment options, have improved so much so that in this day payment system are available from any device connected to the internet.

Here are some of the best online payment gateway in our country:

10. Ola Money

Offers digital wallet and is majorly used to pay for ola cab rides. Its one of the best online payment gateway That Allows purchases for groceries, restaurants, travel tickets, etc. Allows users to transfer money to other users using this app Bill payments, Mumbai metro recharge, Data card recharge and more such services are available.

Limitation
There is no option for ola money or cash payment while booking a cab.
A lot of Ola cab drivers refuse to work for Ola Money official website

official website

9. Freecharge

This digital payment platform also started out with mobile recharge facility and then moved on to be known for its customer discounts, vouchers for different brands and exclusive rewards for restaurants such as café coffee day, McDonald’s, Dominos, etc.

It eventually expanded its services to utility bill payments for electricity, landline, gas and more. Best online payment gateway  On the Snap deal e-commerce site.

And has recently started providing Mumbai metro tickets and smart card recharge Freecharge has recently introduced what is known as data lifeline that allows the users to earn free 3G data up to 100 MB on an exchange of tokens.

Limitations
Money added to the free charge wallet cannot withdraw until 40-45 days
cashback offers come with a particular period after which it will be deducted automatically.

an official website

8. Samsung Pay

It’s an e-commerce service by Samsung India Electronics Pvt. Ltd. which allows its users to pay for goods and services directly from their Samsung smartphones. The user can make the payment by tapping the smartphone on all regular swipe-based card machines which support NFC (near field communication) or MST (secure magnetic transmission).

The Samsung Pay app supports credit and debit cards of Axis Bank, HDFC Bank, ICICI Bank, Standard Chartered Bank and only the credit card of State Bank of India.

There is no storage of information regarding the user’s account details; there are three levels of security - authorization by scanning your fingerprint or entering your Samsung Pay PIN. All transactions use a random token instead of the card number, which means the actual card information shared while paying. The fact that Samsung Pay uses both NFC and MST for payments makes it usable at a large number of retail outlets

Limitations
Only available on select set of Samsung Company phones
No online payment or transaction available official website

the official website

7. PhonePe Pay

Flipkart’s PhonePe app is India’s first UPI (Unified Payment Interface) app that partnered with Yes bank to integrate the facility.
PhonePe’s clean user interface makes it easy to find any service required. Phonepe’s UPI feature allows the user not just to send and receive money but also pay for many other services.
It can be used for payment of bills, recharge and to pay for insurance premium as well.QR code scanner is available.

Limitations
Numerous complaints about lack of cashback offer Poor customer support.

an official website

6. Airtel Money

First ever telecom operator to launch an e-wallet. Also, an RBI-approved e-commerce platform that allows its users to not only make and receive payments but to do it without an internet connection. It provides a convenient way of paying bills through various mobile platforms Doesn’t require a bank account either.

Users can register and operate it without having an account. The aim and objective of the payment bank were to reach out to the regions of the country that do not provide banking services.


Payments are done through a secured network that requires a password called mpin for every transaction that takes place.
Simple and quick payment process.

Limitations
Does not accept international deposits
Poor customer service provider.

the official website

5. BHIM

The Bharat Interface of Money (BHIM) the best online payment gateway to provide digital financial services all over the country, it has become one of the fastest growing UPI and USSD (unstructured supplementary service data) platforms. It has seen around a million downloads in the first week of its launch and around the equal number of transactions were made.

Easy and instant bank to bank payments are available, and transactions through UPI does not require the user to have an account number or any bank details. Transactions are done through VPI (Virtual Path Identifier) It allows scheduled money transfers and collections

Payments can do across all participating banks, and there is no need for the user to download any of the bank’s apps.Payment of utility bills and purchase of gift cards can be made using this app.  BHIM also has its app password.

Limitation
Daily transaction limit of Rs 20,000
Only available for android and windows.

an official website

4. Chillr

Chillr is a mobile banking app that allows the users to send and receive money from anyone in their phonebook. It’s one of best online payment gateway its directly linked to the user’s bank account, allowing them to recharge mobile, DTH and data card. Chillr works with all banks that have immediate payment services (IMPS) How to earn money from Facebook App can be used in both English and Hindi QR code scanner available

Limitation
Many complaints about pending transactions
No e-wallet was available.

the official website

3. UltraCash

Can be used to send money to any bank in India instantly Allows recharge and bill payment for electricity, telephone, DTH, credit cards
Provides payment without internet using UltraCash’s audio NFC Users can save up on recharges by subscribing to multiple offers and packs
Payment with UPI accounts, credit and debit cards available

Limitations
Does not provide an e-wallet

the official website

2. SBI pay

State bank of India is one of the largest lenders in the country came up with its own UPI app. All account holders from all banks using UPI can receive and transfer money using this app.  Money can be transferred and received through either virtual ID or Account details.

Limitations
UPI cannot recover once the phone changed
The payments and transaction processes take a lot of time

official website

1.Paytm

Paytm is an RBI-approved e-commerce platform that started off providing services such as mobile recharge and utility bill payment. But now allows users to transfer cash via net banking, debit cards, and credit cards.

Create UPI to open a savings account in paytm’s payments bank that provides benefits like zero charges on online transactions, no minimum balance requirement and free virtual debit card. Offline payment option with the help of QR code scanning Book travel tickets for buses trains and flights. Paytm is the best online payment gateway.

Utility bill payments for Phone bills, DTH cable, data cards, electricity bills, gas bills and much more Online shopping to buy all sorts of goods and more. Microsoft Visual Studio What’s New?



Limitations
Various complaints on their customer support
Extra charges availed on any money transfer done through paytm wallet.

the official website

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