Top Successful E-Wallet Mobile Applications Across the Globe
E-wallets have made transactions a lot quicker and more convenient. Therefore, most people are now switching to e-wallets. As a result, the demand for eWallet mobile app development has skyrocketed.
Currently, the market is flooded with e-wallet applications. Only a few of them can deliver satisfactory services to their customers.
What Is an Ewallet Mobile App?
An e-wallet is the digital form of your traditional wallet. It turns out to be way better when compared. With such wallets, people can carry their money digitally and transact with a few taps. People have adopted e-wallets for paying bills, online shopping, and even for regular livelihood transactions.
This wild switch is due to the advantages associated with digital wallets, like an easy-to-use interface, no transactional cost, security, and fast transactions. It has also impacted the IT industry in a positive direction as it raised the requirement for eWallet app development services. If you are looking for applications that can be an inspiration for your product, then you need to know the competitive market is full of similar solutions. Here is a quick list of the top Ewallet mobile applications that can be considered.
Best Online e-Wallet Apps
Google Pay
It is one of the top-rated and widely accepted e-wallet applications. As the name suggests, one of the leading names in the IT industry i.e. Google, develop the app. The application is well-designed with easy-to-understand features and several mind-blowing features. Checkout in details features of Digital Wallet App here.
Pros
– Quick Payments
– Multiple layers of security
– Offers PayPal compatibility
– Bill and Payment reminders
– 24×7 Support
Cons
– Limited Bank Support
– NFC technology limitation
Cost – Free
No. of Downloads – 500M+
Ratings – 4.3/5
Download App: iOS, Android
Apple Pay
Apple is integrating more technologies like Apple Cash and Apple Card into their e-wallet app to improvise the user experience over time. Users can also link their debit card and bank account with their Apple Pay account.
Pros
– Optimal Security
– Real-time fraud detection
– 24×7 Dedicated Supports
– Compatible with most banks
Cons
– Only works on an iOS-operated device (must be a 5s or higher model)
– Limited P2P Transfers
Cost – Free
No. of Downloads –
Ratings – 3.4/5
Download App – iOS
PayTM
This e-wallet application holds a major portion of the eWallet users in India. It is much popular in in Japan, Canada, etc. Apart from daily transactions, user can also pay bills, book tickets, and avail several financial services.
Pros
– Hotel, Flight, and Train booking
– Amazing cashback offers
– Offers co-branded personal loans and credit cards
– Auto-payment reminder
Cons
– Limited monthly cap
– Transactional Charges
Cost – Free
No. of Downloads – 100M+
Ratings – 4.5/5
Download App – iOS, Android
Amazon Pay
It is another widely accepted e-Wallet powered and managed by Amazon. The popularity and branding of Amazon have made it successful in a short time span. It offers lightning-fast transactions at the Amazon store checkout.
Pros
– Partnered with thousands of sites
– Lightning fast payment
– Lets you schedule payments
– Optimal protection and Security
Cons
– Limited Features
– Complicated UI
Cost – Free
No. of Downloads – 100M+
Ratings – 4.1/5
Download App – iOS, Android
PhonePe
Another leading name in the list is PhonePe with millions of users. The users enjoy secure and quick payments leveraging UPI. A user can link multiple cards and bank accounts with their e-wallet account.
Pros
– Simplified UI
– UPI fund transfer
– Multiple Services
– Auto-reminders
Cons
– Dependency on Bank Server
– No Interest
Cost – Free
No. of Downloads – 100M+
Ratings – 4.4/5
Download App – iOS, Android
PayPal
It is the one and only eWallet app that survived the tech bubble burst of 1990. The application has a simplified UI. It can be used for online payments, micropayments, and even splitting bills with close ones.
Pros
– Trustworthy and decades-old
– Optimum Security
– Accepted Worldwide
– Faster checkout
Cons
– Significantly high fees
– Longer waiting period
Cost – Free
No. of Downloads – 100M+
Ratings – 3.8/5
Download App: iOS, Android
Yono by SBI
The application has been launched by the State Bank of India; a govt. authorized bank. Transferring money from one account to another has been simplified along with other features like account statements, managing beneficiaries, transfers, bill payments, etc.
Pros
– NFC (Near Field Communication) integrated
– Internet Banking
– Enabled QR code payments
– Direct Carrier Billing
– SBI Rewards
Cons
– Limited to SBI account holders
– Slow processing
Cost – Free
No. of Downloads – 100M+
Ratings – 4.0/5
Download App: iOS, Android
Samsung Pay
As the name suggests; this digital wallet has been developed by Samsung, one of the leading smartphone manufacturers. The wallet can be linked with credit and debit cards for convenient transactions at PoS machines.
Pros
– Remarkable rewards
– Level-3 Security
– Scan and Pay
Cons
– Not suitable for P2P transactions
– Limited to Samsung users
Cost – Free
No. of Downloads – 100M+
Ratings – 3.9/5
Download App – Android
Cash App (Square Cash App)
The electronic wallet has a simplified interface loaded with numerous features and options. Just like any other application, it can be used for transferring money. However, its USP is that it lets its users invest their money in Crypto and make a profit out of it.
Pros
– Simple UI
– Cryptocurrency trading
– 1005 secured payments
– Highly Secure
Cons
– Limited to US citizens
– High Charges for instant deposits
Cost – Free
No. of Downloads – 50M+
Ratings – 4.6/5
Download App – iPhone, Android
Mobikwik
This electronic wallet works a bit similar to Paytm. The user can use the wallet to pay for their utility supplies. It generates OTP on every transaction to offer secure transactions to its users.
Pros
– Secure transactions
– Cashback and Rewards
– SEBI Regulated
– Offers Personal Loan
Cons
– Limited Partnership
Cost – Free
No. of Downloads – 50M+
Ratings – 4.3/5
Download App – iOS, Android
Venmo
This application can be considered a significant part of PayPal. The user can instantly and conveniently transact their money using the send and receive options available in the electronic wallet application. It also lets the user split expenses with their family and friends.
Pros
– Quick and Easy Transfers
– No or rare commission charged
– Credit and debit card availability
– Offers social features
Cons
– Limited to United States
– 1.5% charges ion instant transactions
Cost – Free
No. of Downloads – 10M+
Ratings – 4.2/5
Download App – iPhone, Android
Zelle
This digital wallet has been diligently designed for instant and secure payments. Apparently, it only allows transfers between US Bank accounts. It leverages encryption to safeguard transactions.
Pros
– Free Application
– Easy-to-understand UI
– Transfer Protection up to $2,50,000
Cons
– No support for wrong payments
– No protection against fraudulent transactions
Cost – Free
No. of Downloads – 10M+
Ratings – 3.8/5
Download App: iPhone, Android
AliPay
This particular digital wallet application stands out from others with unique features. It is thoughtfully designed to offer users a quick, easy, and secure transaction experience. It also offers 90-day payment protection to its users.
Pros
– Advanced encryption integration
– Strong Risk Management
– 24×7 Supports
– Real-time monitoring of transactions
Cons
– Not NFIC Insured
– Limited Time-period
No. of Downloads – 10M+
Ratings – 2.6
Download App – iOS, Android
HDFC PayZapp
The digital wallet is dedicated to offering fast, convenient, and secure transactions to users. It is specially designed for HDFC bank account holders. From paying bills to P2P transactions, everything can be done with it.
Pros
– One-click payment
– Secure transactions
– Multiple Payment Types
Cons
– Error during transactions
Cost – Free
No. of Downloads – 100K+
Ratings – 2.8/5
Download App – iOS, Android
BHIM Axis Pay
Multiple bank accounts can be linked to this digital wallet. Transacting money from one account to another becomes easy and convenient as UPI (Unified Payment Interface) is integrated.
Pros
– Supports Multiple Banks
– Backed by govt. of India
– No transactional fees
– Dedicated Support team
Cons
– No Rewards or cashback
– Max limit of 10,000 INR per transaction
Cost – Free
No. of Downloads – 5M+
Ratings – 4.1/5
Download App – iOS, Android
ICICI Pockets
This electronic wallet is powered by VISA and can be utilized to pay bills, transfer money, do online shopping, and a lot more. On top of that, the user gets their hands on a physical card for offline transactions at stores.
Pros
– Instant Transactions
– Awesome Offers
– Optimum Support
Cons
– Limited Rewards
– Compulsory KYC
Cost – Free
No. of Downloads – 5M+
Ratings – 3.6/5
Download App – iOS, Android
Conclusion
In this modern era, the majority of people are now switching to eWallet after witnessing the benefits associated with it. Soon, there will be a time when digital wallets will entirely overtake physical wallets. The constant growth of the eWallet has also boosted the demand for Ewallet app development in the industry significantly.
Frequently Asked Questions
What is the best eWallet to use?
All the eWallet mentioned above are the best in the industry. However, Google Pay is performing exceptionally well and is preferred by 500M+ users. You can also filter the best for yourself according to your own requirements.
Which e-wallet app is most used in the USA?
The U.S. natives have multiple choices to choose from when it comes to eWallet. Anyhow, it has been studied that the majority of people have stuck to PayPal. This wallet has been around for decades and is trusted by millions.
Who makes the best digital wallet?
Several companies are offering Digital wallet app development solutions. Anyhow, you need to find the best for yourself. Consider checking the portfolio, costing, experience, and time period to choose the best one according to your needs.
