The world has become digital, along with it it is becoming even more smart. In today’s date, you can transfer money online to any other person sitting in any other corner of the world only from your mobile, that too very easily.
It has seen a lot of growth in India in the last few years because when demonetisation happened, the main objective of the government was to make the country’s economy cashless by increasing online payments. Which actually happened and people liked it a lot, along with which a new way of transaction Digital Payment came into practice.
After its arrival, many big companies and especially startups started creating new apps for online payment and their number kept increasing. Because of which people are not able to understand which App is good and which is not and which Online Money Transfer App we should use.
7 Best Money Transfer Apps in India
So in this article we will talk about which are the Best Money Transfer Apps that you can use and with that you can save money. Before ranking the apps, let us know what are the basic features of a better money transfer application –
Online Money Transfer Apps
#1 BHIM App
When Demonetization happened, the government launched BHIM UPI App on 30 Dec 2016 to promote Cashless Economy. Its full name is Bharat Interface for Money, which is India’s first UPI app, with the help of which you can do Money Transactions directly from one bank to another. Along with this, according to the government, BHIM App is used the most in India because –
Being UPI, it provides its services 24 hours a day, 7 days a week and 365 days a year.
You can use it to send money to your account, receive it, Mobile Recharge & DTH Recharge etc.
BHIM is very simple but secure, it is linked to your Aadhaar card and it works in all banks.
With this, you can easily check Bank Balance, Statement and Transactions History etc. can see many things.
You can do transactions up to Rs 20,000 at a time in this and the daily limit is Rs 40,000.
Who does not know this, today Paytm is the most popular Online Money Transfer App in the country. Which was launched in 2010 by its Vijay Shekhar Sharma, which has more than 15 million downloads. Paytm’s Full Form is “Pay Through Mobile”. Currently, Paytm is the easiest and safest way to make online payments, through this you –
- Bill Payment, Online Shopping, Mobile & DTH Recharge, Money Transfer and Receive can be done.
- Due to Paytm being a UPI app, you get the facility to do Transactions from one bank to another at any time.
- In this, you can make real-time payment in it, that is, transaction is done in it.
- It is fast and secure, along with this there are many offers going on in which you get up to 100% cashback.
- It is accepted everywhere because in this every person gets a unique QR Code which you can scan and make payment to that person.
PhonePe which is a product of Flipkart which was launched in 2015. This is also a UPI Payment app which you can use like other Payment Apps, along with this it supports Bank to Bank Transaction. You get many benefits in this –
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- There is a transaction limit of 1 lakh per day and 30 lakh per month.
- It transacts directly from your Bank Account, for which only Mobile Number is required.
- This gives you more attractive offers than any other app from which you can get cashback.
- Being UPI provides you service all the time. And
- Being popular, it is accepted almost everywhere.
#4 Google Pay (Tez)
There is a payment app developed by Google which was earlier Google Tez but later it was modified and launched back on September 19, 2017 and it was named Google Pay. It is a UPI (Unified Payments Interface) payment app just like PhonePe, BHIM, Paytm, using it you can –
- You can send or receive money to your Contacts.
- Can do Online Payment or Recharge.
- Can do transactions from one bank to another.
- It is Easy & Fast, as well as being a product of Google, it is equally secure.
- In this, without Aadhaar card or ID Proof, you can register only by mobile number.
- Apart from this, it is popular for its Rewards system.
- You can do maximum 1 lakh rupees and maximum 10 transactions in a day.
PayPal is the world’s best online payment company, it is an American company which was established in 1998. If you have to send or receive money to someone outside India, then PayPal is a good option for you.
- To create an account in PayPal, you will need your PAN Card, Email ID. With this, you can do transactions from your bank account anywhere in the world, it is very simple and safe. It gives you 100% Security in Payment as well as gives you good offers and coupons, currently PayPal’s Transaction limits have been increased to $10,000 at a time.
#6 JIO Money
JIO Money -> is an online payment app developed by Reliance Jio which was launched on April 2018. It provides facilities ranging from mobile recharge to online payment, sending or receiving money. Along with this it gives you better facility, Discount, Offers and Coupons. Also, you get cashback and more data on recharging Jio’s SIM with JIO Money, using this you can also do Bank to Bank Transactions. Currently it has more than 1 million downloads in the Google Play Store.
Mobikwik is a Mobile Phone Based Payment System and Digital Wallet. Launched in April 2009, Mobikwik is a secure e-wallet app. Using this, you can do Online Bills Payment, Mobile / DTH Recharge, EMI Payments and other Online Transactions. Mobikwik app is not UPI, due to which money has to be transferred first, after that online payment is done, it is completely safe for you.
Mobikwik has more hold in the market because it has partnered with more and more merchants, in this you get very good offers and cashback.
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