Tag: Best Online Payment Apps

Top 12 Best Online Payment Gateways in India 2025

At present, the world has experienced huge growth in online payments, and with the Covid-19 presence, people preferred to use online payment methods for almost everything as it is safe and secure. More and more people are opting for a cashless way to transfer money. Here, comes the work of the payment gateway. A payment gateway is basically a merchant service that connects the users’ bank accounts with the platform where the users need to transfer their money. A bank may provide a payment gateway to its customers, there is also a specialized financial service provider such as a payment service provider which provides it as a separate service.

Whether you are a small business or you have an established E-commerce business, good payment service is an essential factor for it. An online payment gateway is a secure and convenient way for a website or online business to accept payments from customers. When a customer makes a purchase on an e-commerce website, they enter their payment information, which is then processed by the payment gateway. The payment gateway verifies the information, checks to see if the customer has the funds available, and then transfers the funds from the customer’s account to the business’s account.

A payment gateway platform gives authority to the users to conduct an online transaction through various payment modes such as net banking, credit card, debit card, UPI, and other online payment apps. It is a third-party platform that provides the ability for the user to securely transfer their money to the merchant’s payment portal. In this era of the digital world, E-commerce is leading the market. As times are changing fast online businesses are also moving. So, it is important to know about the payment gateways in India.

In order to use an online payment gateway, you will need to sign up for an account and integrate the payment gateway into your website or online store. This typically involves adding a few lines of code to your website and may also require you to obtain a merchant account.

There are many different online payment gateways available, each with its own set of features and fees. In this article, we will talk about the top payment gateways in India that allow customers to make payments online. So, let’s take a look at them.

S.No.	Payment Gateway	Key Features	Transaction Fees
1	Razorpay	Easy integration, supports multiple payment modes, instant settlements	2% per transaction
2	Instamojo	No setup fee, user-friendly dashboard, quick payouts	2% + ₹3 per transaction
3	Paytm	Large user base, supports UPI/wallet/cards, instant refunds	1.99% + taxes
4	CCAvenue	Multiple currency support, advanced fraud detection, recurring billing	2% per transaction
5	Payflow	Easy integration for businesses, seamless checkout experience	Varies by plan
6	Cashfree	Instant settlements, API friendly, supports international payments	1.75% onwards
7	BillDesk	Reliable for utility and recurring payments, strong security	1.5% onwards
8	Atom	Supports 100+ payment options, secure and scalable	1.99% onwards
9	HDFC	Bank-backed, secure transactions, easy reconciliation	2% per transaction
10	PayKun	No setup or maintenance fee, multiple payment modes	1.75% per transaction
11	PayU	Easy checkout, supports international cards, fast settlements	2% per transaction
12	MobiKwik	Popular wallet-based gateway, supports UPI, cards, EMI, and Buy Now Pay Later options	1.75% onwards

Razorpay

Mobile Applications	Google Play Store
Accepted Payment Methods	Domestic and International Credit & Debit cards, EMIs ( Credit/Debit Cards & Cardless), PayLater, Netbanking from 58 banks, UPI and 8 mobile wallets

Razorpay is one of the best payment gateways in India for your business. It was started in 2014. Many entrepreneurs who use Razorpay for their business, have seen some increase in their conversion rate. Razorpay has helped businesses to solve the problem of digital payments. It is due to their smooth user experience. Also, the refund process is easy and automated. If your customer applies for a refund, Razorpay will automatically get the refund, if you set it to, without any extra widget or code. You can use Razorpay Subscriptions to execute the automated recurring transactions on various payment modes, through a platform that’s built for automation.

Razorpay Features

You can improve your business sales as Razorpay provides cashback and discounts to your customers
Payment modes include credit cards, debit cards, net banking, payments through UPI, and popular wallets.
Razorpay allows you to accept international payments from over 100 countries.
Manage your marketplace, automate bank transfers, collect recurring payments, share invoices, and avail working capital loans.

Instamojo

Mobile Applications	Google Play
Accepted Payment Methods	170+ payment methods including RTGS/Bank Transfer/NEFT/EMI

Instamojo is one of the top-rated payment gateways in India. It allows businesses to create a business account instantly and the account can also be activated within a few minutes to collect online payments. This is a Bangalore-based company and the target of Instamojo is selling digital goods and collecting payments online. You can enroll yourself at Instamojo with a bank account and start your online selling business. You can also collect payments for physical goods and workshops or events.

Instamojo Features

To set up the payment gateway, no extra payment is needed.
Different types of payment methods are available.
Special care is being taken for the security of the server.
Businesses can create discount codes for their products.

Paytm

Mobile Applications	Google Play and App Store
Accepted Payment Methods	UPI, Debit Card, Credit Card, NetBanking, AMEX/International

Paytm has emerged as a leading payment gateway in India due to its online customer base with the very popular Paytm wallet. It supports domestic credit cards like Visa, MasterCard, Maestro, Amex, Discover, and Diners. With Paytm online transactions can be made anytime and from anywhere. It is the best payment gateway solution provider in India which has served some biggest eCommerce companies.

Some of the most popular companies which use Paytm are Jabong, OLA, Cleartrips, Redbus, GoIbibo, Zomato, etc.

How to Create Payment Links from the Paytm Business Dashboard

Paytm Features

The latest technologies are used for secure online transactions.
It has the feature of saved cards, where a customer doesn’t have to put their card details again and again.
Paytm is not only available as a desktop application but also supports smartphones and tablets.

CCAvenue

Mobile Applications	Not Available
Accepted Payment Methods	200+ payment methods including EMI options

CCAvenue is an authorized payment gateway provider by Indian Financial Institutions and is known as the most secure and best payment gateway to transact money for online shopping. Customers can make online transactions via Credit Cards, Debit Cards, Net Banking, Digital and Mobile Wallets, Mobile Payment, and Cash Card modes. It offers smooth, fast, and secure transactions to its customers. Currently, CCAvenue powers more than 85% of businesses in India.

CCAvenue Features

CCAvenue provides “Smart Analytics” by which you can see a real-time comprehensive statistical online report and a transparent history of all your transactions.
It has a ‘Mobile Checkout Page’ which supports all mobile operating systems.
CCAvenue also has CCAvenue In-built Advanced Shopping Cart’, CCAvenue S.N.I.P. ( Social Network In-stream Payments), it is one of India’s first genuine Social Commerce facilities.

Payflow

Mobile Applications	App Store and Google Play
Accepted Payment Methods	Accept all major debit and credit cards supported by their processor, including Visa, Mastercard®, American Express, Discover, JCB, and Diners Club. Payflow Gateway also supports L2/L3 purchase cards, prepaid cards, foreign currencies, TeleCheck, and ACH.

Payflow is offered by PayPal. It is known for being a secure and open gateway for payments. Payflow accepts all major credit and debit cards. It adds over 173 million customers regularly and supports more than 100 currencies. In India, it is used by Merchants for receiving international payments.

Payflow Features

It accepts and offers different payment methods.
The checkout process is customized with the help of APIs.
It supports fraud protection services and allows you to install it for an additional fee.

Cashfree

Mobile Applications	Google Play Store
Accepted Payment Methods	UPI, EMI, digital wallets, Debit/Credit cards, and 100+ other payment options

Cashfree is a low-cost and popular payment gateway in India. Cashfree helps businesses in India to accept payments online from various payment channels. The best thing about Cashfree is that it has direct integration with multiple banks which makes Cashfree a fast and reliable payment gateway. It is the only payment gateway in India that provides a wide range of payment options such as Visa, MasterCard, Maestro, Rupay, and Amex, including 70+ more net banking options. Cashfree also supports UPI, NEFT, IMPS, and PayPal. TDR is the transaction discount rate that every payment gateway charges from the merchants for processing the transactions to their bank account.

Cashfree Features

The setup cost is not needed.
Cashfree also supports online wallets like Paytm, PhonePe, and GooglePay.
Cashfree is the fastest settlement cycle of 24 hours to 48 hours and also offers popup, iframe and seamless checkout modes

BillDesk

Mobile Applications	Google Play Store
Accepted Payment Methods	120+ Credit cards, Debit cards, Banks, Net Banking, Wallets

BillDesk is an Indian online payment gateway company based in Mumbai, India. BillDesk provides bill payment and settlement services to large billers like electricity, water, insurance, and other service providers. BillDesk also provides the ability to customers to decide how and when to make payments. BillDesk is a one-stop solution for customers through which customers can make all their payments at any time and from anywhere.

BillDesk Features

The integration is developer friendly and is quite easy and flexible..
BillDesk offers various payment methods.
Customers can also receive payment reminders or alerts.

Atom

Mobile Applications	Google Play Store
Accepted Payment Methods	Visa, Mastercard, Discover and American Express plus Amazon Pay, Apple Pay, Google Pay, PayPal, and Venmo

Atom consists of various payment options which accept payment through all major debit cards and credit cards. Atom has completed over 15 million transactions and is used by thousands of merchants across the country. Atom is completely secured as it is backed with PCI DSS version 3.2 and 256-bit encryption which ensures a safe and secure transaction.

Atom Features

Atom provides multiple payment methods.
The integration is quite simple and easy.
Atom provides invoices after every payment.

HDFC

Mobile Applications	App Store and Google Play Store
Accepted Payment Methods	All major credit, debit cards and net banking in India, including Visa, MasterCard, Visa Electron, Diners, Rupay, Discover or Maestro

HDFC is one of the largest banks in India that offers a payment gateway service for merchants and businesses to accept online payments from their customers. Many organizations like VSNL, Sify, and IRCTC use HDFC. If you want to use HDFC on your website or mobile app, you need to use their EPI payment gateway services. The HDFC Payment Gateway allows merchants to securely accept a wide range of payment options, including credit and debit cards, net banking, and UPI payments. The advantages of the HDFC payment gateway are instant settlement, a 100% chargeback facility, the facility to accept payment in 15 international currencies, easy integration with existing applications, and support for various shopping cart applications.

HDFC Features

The HDFC Payment Gateway supports a wide range of payment options, including Visa, Mastercard, American Express, and Rupay credit and debit cards, as well as net banking and UPI payments.
The HDFC Payment Gateway uses 128-bit SSL encryption to secure your transactions and protect your financial information.
The HDFC Payment Gateway can be easily integrated with your website or mobile app, allowing you to customize the payment experience for your customers.
The HDFC Payment Gateway provides detailed transaction reports and reconciliation tools to help you manage and track your payments.
It accepts 15 types of international currencies.
It provides 24×7 customer service.

PayKun

Mobile Applications	Not Available
Accepted Payment Methods	UPI wallet payments, subscription payments, Debit/Credit cards, Master Card, diners club card, net banking, wallets, UPI/BHIM

PayKun is an easy solution for online payments for all types of businesses including small businesses, and medium to large. Any kind of merchant including a freelancer, a YouTuber, a blogger, from an eCommerce website or mobile app, an offline and online seller at the shop or showroom, or an individual, every type needs to have an easy hand on the modern technology for the collection of digital payments. It provides free plugins and SDKs readily available on the internet to integrate with all the major platforms of websites and mobile applications.

PayKun Features

Paykun has zero setup fees and zero maintenance fees.
It provides different types of payment methods.
The server is safe enough to use.

PayU

Mobile Applications	Google Play and App Store
Accepted Payment Methods	100 different payment methods are supported, including EMI, UPI, net banking, cards, wallets, Buy Now Pay Later, etc.

PayU (formerly known as PayU Money) is one of the best multi-currency payment gateways to accept online payments. The PayU payment gateway is designed to be secure, reliable, and easy to use for both merchants and customers.

To use the PayU payment gateway, merchants need to sign up for an account and integrate the payment gateway into their online store or website. This can typically be done through the use of a software development kit (SDK) or by integrating with a payment processor or shopping cart platform. Once the integration is complete, merchants can start accepting payments from customers through the PayU payment gateway.

You can start accepting payments securely and seamlessly within your iOS, Android, or Windows app, within minutes, with its 100% online hassle-free onboarding process.

PayU Payment Gateway: What is a payment gateway and how does it work?

PayU Features

PayUMoney supports multi-currency transactions and international credit cards.
PayU provides over 100+ payment methods
The transaction history is available through PayU.

Mobikwik

Mobile Applications	Google Play and App Store
Accepted Payment Methods	Supports UPI, MobiKwik wallet, credit/debit cards, net banking, EMI, and Buy Now Pay Later options.

MobiKwik (earlier called Zaakpay) is one of the fastest-growing eCommerce payment gateways, helping businesses run smoothly. It focuses on giving users an easy experience by automatically detecting OTP (One Time Password) during payments.

Some well-known clients include Business World, BlueDart, Uber, and Zomato. Businesses can also integrate this gateway into their website or app with the help of eCommerce development companies.

Mobikwik Features:

Strong PCI DSS security to keep transaction data safe
Website analytics to track payment data
Supports credit/debit cards, wallets, international cards, UPI, and EMI options

Conclusion

The payment gateway has become the most important part of the world of increasing eCommerce businesses. If a business provides a good payment service, it automatically creates a good impression in front of its customers. With the increase of E-commerce businesses in the world, the need for proper payment gateways is also increasing.

FAQs

What is a Payment Gateway?

Where payment gateways are used?

Payment Gateways are used mostly used by E-commerce businesses.

What are some top 5 Payment Gateways?

The top 5 payments gateways are:

Razorpay
Instamojo
BillDesk
Paytm
Payflow

Which is better, Paytm or PayPal?

The choice between Paytm and PayPal will depend on your specific needs and preferences. It may be helpful to consider factors such as geographical availability, payment methods, fees, and security when deciding which platform is right for you.

Who regulates payment gateways in India?

In India, payment gateways are regulated by the Reserve Bank of India (RBI), which is the central bank of the country.

Which is the cheapest payment gateway in India?

Cashfree Payment gateway is as of now, one of the cheapest payment gateways in India.

Is UPI available only in India?

UPI is not limited to India and has been adopted by some financial institutions and payment service providers in other countries as well such as Bhutan, Nepal, UAE, and the UK.

Which is better, Razorpay vs Billdesk?

Razorpay is better for startups and online businesses because it offers easy integration, many payment options, and instant settlements. BillDesk is more suited for large enterprises and utility bill payments due to its reliability and strong security.

Which is better, HDFC Payment Gateway vs Razorpay?

Razorpay is better for startups and developers due to its easy setup, modern features, and instant settlements, while HDFC Payment Gateway is ideal for established businesses needing a bank-backed, secure solution.

Which is the best payment gateway for startups in India?

The best payment gateway for startups in India is Razorpay because it offers easy integration, multiple payment options, fast settlements, and low setup hassle.

Which are the payment gateway for website in India?

Razorpay, PayU, and Cashfree are top payment gateways for websites in India, offering easy integration and fast payments.

Which is the best payment gateway for online business?

The best payment gateway for online business in India is Razorpay due to its seamless integration, wide payment options, and quick settlements.

August 4, 2025

Best Wallet Apps in India 2025: Top Mobile & Digital Wallets, UPI Payment Apps & Prepaid Wallets Reviewed

The globe is slowly paving its way towards a cashless society. From invoices to cards and now to mobile wallets, this significant transformation has reduced the weight of bulky wallets. We can pay for any product, transfer money, make bill payments, and almost everything to do with money from the comfort of our home. Payment wallets in India have made online transactions of money easy and fast, with their one-tap feature and quick processing, all at one go.

What is a Mobile Wallet?
How Does A Mobile Wallet Work?
Types Of Mobile Wallets In India
Are Mobile Wallets Secure?
Top 15 Mobile Wallets In India
Advantages Of Mobile Wallets
Mobile Wallet vs Digital Wallet
Limitations Of Mobile Wallets In India

What is a Mobile Wallet?

A mobile wallet is a digital wallet that uses a bank account or credit/debit card to make payments seamlessly while securing the data of the user. They are designed to enable secured transactions with a hassle-free process, with reduced fraud. This method of online payment has proved to be more economical as compared to other physical wallets. These wallets are easily accessible as well from the play-store or app store.

India ranks 2nd highest in the Asia Pacific for digital payment adoption.

Digital payments in India are set to account for 71.7% of the total payments volume by 2025, leaving cash and cheque transactions at 28.3%, according to a report by a US-based payment systems company.

Since Demonetization hit the Indian Economy harshly, the Government promoted the use of these wallets and since then the user base of these e-wallets has been increasing significantly. Many digital wallets by the Indian Government has been given to citizens like UPI, BHIM, Aadhaar Pay and Payment Banks.

How Does A Mobile Wallet Work?

Start by downloading the mobile app of your choice onto your smartphone. Then, load the card information you want to store, from debit, and credit cards to loyalty cards and even coupons.

When you want to make a purchase with your mobile wallet, you can either:

Choose your app and select a card at the checkout screen when you’re shopping online with your smartphone.
Tap your phone to a digital payment-enabled terminal at participating merchants when checking out. Mobile wallets use what is called a Near-Field Communication (NFC) chip that lets you use contactless payment with a physical card.

Types Of Mobile Wallets In India

	Closed PPI	Semi-Closed PPI	Open PPI
Definition	Issued by a company to buy goods and services only from that company; it does not permit cash withdrawals or redemptions.	Can be used to buy goods and services from merchants that have a contract with the Issuer to accept the payment instrument; it does not permit cash withdrawals or redemptions.	Allows a user to buy goods and services, withdraw cash at ATMs or banks, and transfer funds.
KYC Requirement	No KYC required	No As Such compulsion for KYC	KYC is Required
Examples	Makemytrip Wallet	Mobikwik	PayTM Payment bank

Are Mobile Wallets Secure?

One security concern when using a mobile wallet is losing your phone or having it stolen. That’s why it’s smart to use something like two-factor authentication, which could include setting up a personal identification number or a fingerprint requirement to unlock your phone.

You can also protect your data by installing apps that will help you locate your phone if you lose it or remotely wipe the data so a thief can’t reach the sensitive information in your phone. If you see any suspicious or unauthorized charges on your account(s), it’s a good idea to immediately change your password and call your bank to let them know.

Payment Wallets in India

Top 15 Mobile Wallets In India

S.No.	Mobile Wallet	Why Users Like It	Key Features
1	Paytm	Wide acceptance across merchants and services	Recharge, bill payments, UPI, wallet, shopping, FASTag
2	Google Pay	Fast UPI payments, no wallet required	Direct bank transfers, rewards, bill payments
3	BHIM Axis Pay	Simple and secure for Axis Bank customers	UPI-enabled app with direct bank linking
4	PhonePe	All-in-one UPI app with cashback and offers	UPI, recharges, bill pay, gold purchase, mutual funds
5	Mobikwik	Good for wallet-based payments and BNPL	Wallet, ZIP Pay Later, bill pay, credit card bill
6	Yono (SBI)	Trusted for SBI users with integrated banking	UPI, wallet, account services, investments
7	Citi MasterPass	Secure checkout for Citi card users	MasterPass integration, card-based payments
8	ICICI Pockets	Handy digital wallet for ICICI Bank users	UPI, virtual card, recharges, send/request money
9	HDFC PayZapp	Linked with HDFC cards and bank accounts	Bill payments, recharges, shopping offers
10	Amazon Pay	Integrated with Amazon for fast checkouts	UPI, cashback, wallet, bill pay, shopping
11	Samsung Pay	Great for Samsung device users	Tap & pay, UPI, debit/credit card support
12	Apple Pay	Secure and convenient for Apple users	Face ID/Touch ID payments, NFC tap-to-pay
13	WhatsApp Pay	UPI payments via familiar chat interface	Simple peer-to-peer payments in chat
14	Freecharge	Basic wallet with bill pay and recharges	UPI, wallet, recharges, offers
15	Airtel Money	Useful for Airtel users and bill pay	Wallet, UPI, utility payments, insurance

Paytm

Mobile Wallet	Paytm
Founded	2010
Total Downloads	500M+ (on Google Play Store)

Paytm – Best Wallet Apps in India

Paytm is one of the largest online commerce platforms in India offering its customers a mobile wallet to store money and make quick transactions. It is considered by many the best mobile app in India. Paytm was launched in 2010 and basically works on a semi-closed model. Users can load money and make payments to merchants. E-Commerce is an added benefit of it, but despite that, you can make bill payments, transfer money, and avail yourself of services of entertainment, travel, and cashback. Payments through Paytm are accepted almost everywhere.

Google Pay

Mobile Wallet	Google Pay
Founded	2017 (India launch)
Total Downloads	1B+ (on Google Play Store)

It was formerly known as Tez and for obvious reasons, it gained its user base really quick, in spite of being a late entrant in the mobile wallet industry. It is the best online payment app or best money transfer app with cashback. Google Pay works with your existing bank account, which already means that your money is safe with the bank and no issues with recharging your wallet every month. Send or receive money from your friend directly to your bank account. There is also no such issue regarding KYC making it all the more popular.

BHIM Axis Pay

Mobile Wallet	BHIM Axis Pay
Founded	2016 (as part of UPI launch)
Total Downloads	10M+ (on Google Play Store)

BHIM (Bharat Interface for Money) is another best mobile wallet in India. It is a mobile wallet app developed by the National Payments Corporation of India (NPCI), based on the Unified Payment Interface (UPI). Launched in December 2016, it is intended to facilitate e-payments directly through banks. Users register their bank account with BHIM and set a UPI PIN for the bank account. It can be used by both Axis Bank users as well as other bank users. The Mobile Number is then the permanent address and they can start transacting. User can pay their friends, family and merchants with the tap of a button.

PhonePe

Mobile Wallet	PhonePe
Founded	2015
Total Downloads	500M+ (on Google Play Store)

PhonePe was launched in 2015 and is now a part of Flipkart. From UPI Payments to mobile recharges, and money transfers to online bill payments, this can be done easily on PhonePe. With a good user interface, PhonePe has offered the safest and fastest online transaction experience in India.

Mobikwik

Mobile Wallet	Mobikwik
Founded	2009
Total Downloads	50M+ (on Google Play Store)

Mobikwik was launched in 2009 with its key proposition in Recharge and Bill payments. Mobikwik is one of the independent mobile payment networks that has a user base of 32 million. This e-wallet lets its users add money using debit cards, credit cards, net banking, and even doorstep cash services. One of the unique features Mobikwik has offered its users is ‘expense tracker’, basically which allows users to set a budget for expenses via SMS data to analyze and control the expenditure.

Yono (SBI)

Mobile Wallet	YONO (SBI)
Founded	2017
Total Downloads	100M+ (on Google Play Store)

This application was launched by the State Bank of India to let users transfer money to other users, pay bills, recharge, book tickets, shop, and travel. This is one of the top mobile wallets in India and has offered its mobile wallet services in 13 languages the best part is, that it is also available to non-SBI customers. It taps into the special feature where-in it allows its users to set reminders for dues, and money transfers, and view mini-statement for the transactions done already.

Citi MasterPass

Mobile Wallet	Citi MasterPass
Founded	2013 (India launch by Citi)
Total Downloads	Not publicly listed separately

Citi MasterPass was launched recently by Citi Bank India and MasterCard. This is one of India’s first global outreach in terms of digital wallets for faster and more secure shopping. Citi Bank debit and Master card customers become the first in this country to shop at more than 250,000 e-commerce merchants. It has ensured fast checkout with a single tap and stores all credit, debit, prepaid, and shipping details.

ICICI Pockets

Mobile Wallet	ICICI Pockets (ICICI Bank)
Founded	2016
Total Downloads	5 M+ (on Google Play Store)

It’s one of the best mobile wallets in India. It has provided the convenience of using any bank account in India to fund your mobile wallet and pay for transactions. It basically uses a virtual VISA card that enables its users to transact on any website or mobile application in India and provides exclusive deals or packages from associated brands.

HDFC PayZapp

Mobile Wallet	HDFC PayZapp
Founded	June 2015
Total Downloads	10M+ (on Google Play Store)

PayZapp is a complete payment solution by HDFC Bank which has a one-tap feature for easy payment. Not only does it let you recharge your phone or send money but also your DTH and data cards, pay utility bills, and compare and book flight tickets, trains, hotels and shops.

Amazon Pay

Mobile Wallet	Amazon Pay
Founded	2007 (Global), 2011 (India)
Total Downloads	500M+ (on Google Play Store)

Owned by Amazon, this online payment processing service was launched in 2017 in India (globally- 2007). Amazon Pay has focused its customers more on Amazon and so it gives its users the option to pay with their Amazon accounts on external merchant websites, including apps like BigBazaar etc. With Amazon Pay, you get to shop on Amazon with a number of cashback and discounts with fast shipping services. Recently, Amazon Pay got tied up with fintech companies, such as Zest Money to enable no-cost EMI payment options. The application has also made it easier for buyers to buy products on Amazon and pay later via affordable monthly instalments.

Samsung Pay

Mobile Wallet	Samsung Pay
Founded	August 20, 2015
Total Downloads	100M+ (on Google Play Store)

Samsung Pay is a digital wallet service owned by Samsung, it was launched on the year 2015. It is considered one of the best payment processing services for contactless payments. Samsung is accepted in almost every store, wherever credit and debit cards can be used it also offers Cashback. With the help of Samsung pay, the transaction between merchants and payers are possible without the exchange of bank and card information. Samsung Pay accepts all kinds of card readers like magnetic stripes, EMV and others,

Apple Pay

Mobile Wallet	Apple Pay
Founded	October 20, 2014
Total Downloads	Not publicly disclosed

Owned by Apple Inc., Apple Pay is a digital wallet service, which was launched in the year 2014. Major credit and debit cards are supported in Apple Pay, it also provides extreme security through touch and face id. Anyone owning an apple device can use Apple Pay on them for making payments. The card information is kept confidential while making payments. Apple Pay currently is available in more than 60 countries.

WhatsApp Pay

Mobile Wallet	WhatsApp Pay
Founded	February 2018 (India pilot)
Total Downloads	Over 1 billion (WhatsApp Messenger)

Launched in the year 2018, WhatsApp launched the chat payment service to allow users to complete any kind of transaction through WhatsApp. The secure way of the transaction enables people to make payments easy just like sending a message on WhatsApp. WhatsApp Pay has also been providing some great features like Cashback to attract more customers. This UPI-based payment service provides the option of sending and receiving money.

Freecharge

Mobile Wallet	Freecharge
Founded	August 2010
Total Downloads	50M+ (on Google Play Store)

Freecharge is a wallet app that is easy and fast to use for payments. You can recharge your phone, pay bills, and send money to friends. It also works with UPI payments and is popular for online shopping.

Freecharge gives good cashback offers and discounts, which users like. It lets you split bills, so sharing expenses with friends or family is simple. Many stores accept Freecharge for payments both online and in shops.

Airtel Money

Mobile Wallet	Airtel Money
Founded	2012 (initial launch)
Total Downloads	50M+ (on Google Play Store)

Airtel Payments Bank Wallet is a special service that mixes a mobile wallet with digital banking. You can pay bills, recharge your phone, or send money using UPI. It gives you more interest on your balance than regular savings accounts.

The wallet works well with Airtel services and gives special discounts to Airtel users. You can also withdraw cash from ATMs without a card, using QR codes. It is safe and trusted for your digital banking needs.

best mobile wallets in India — Mobile Wallets’ Usage in India

Advantages Of Mobile Wallets

Mobile wallets got popular due to the advantages it offers. Here are listed some of the advantages of using mobile wallets in India

1. One-Click Pay

This is one of the most convenient ways to make payments since the user can pay via such wallets. The mobile wallet takes the information from your card (credit/debit) and makes payments directly or adds money to your wallet. This has offered easy accessibility to users.

2. Multiple Features and Uses

With easy accessibility, it can be used anytime, anywhere. These mobile wallets can be used in a jiffy, it’s just that you need a proper internet connection for your device. Also, your single mobile wallet account can be accessed on any of your devices like laptops, PC, or smartphones with authenticated verification.

3. Robust Security Features

Mobile wallets have tried hard to provide extensive safety and security. Almost more than half of the population has shifted from leather wallets to e-wallets for the protection of their money. Mobile wallets have also reduced the chance of daily theft or losing cash.

4. Several Benefits

They come up with several other benefits like loyalty programs, cashback, rewards, shopping benefits, and many more so that their customers stay happy. Simultaneously, users can also save money through heavy discounts and offers.

Mobile Wallet vs Digital Wallet

	Mobile Wallet	Digital Wallet
Definition	Mobile wallets are payment apps housed on mobile devices, like smartphones and wearables.	Consumers using digital wallets, may or may not interact with them on their smartphones.
Uses	Consumers mostly use a mobile wallet for in-person transactions.	Consumers mostly use a digital wallet for online shopping or purchases.
Examples	Some of the most popular mobile wallets are Apple pay, Samsung pay, etc.	Some of the most popular digital wallets are Paytm, Paypal, etc.

Limitations Of Mobile Wallets In India

Besides the advantages Mobile wallets in India offer in the payment service industry, it has some limitations which are listed below.

A limit is set on the amount that you can deposit in your mobile wallet. For instance, Paytm allows the amount of ₹20,000 in its wallet.
The number of merchants listed or having a tie-up with these wallets is limited. In that case, you would always need to carry some cash in urgency.
Sometimes, Infrastructure issues stand for a lot of lost transactions or common ‘server down’ problems.
Few times, some fraud calls can also cause a possibility of a mobile theft where your personal information is compromised.
One of the major concerns is that a person needs a smartphone to make online transactions possible and that too, with good internet connectivity. This alone has stood a major limit to many poor families, who still carry cash in their pockets.

More than 40% of respondents used a smartphone in India.

While these large numbers and large user bases indicate the growing need for secure, faster, and efficient transaction methods for the online marketplace. Regardless of what we’ve seen and read, top e-wallets in India have outweighed its concerns. The use of e-wallets has constantly increased due to obvious reasons and its surprising offers. Mobile wallets continue to gain prominence in smartphones and laptops across the globe and have dominated the discussions of new ways to pay.

FAQs

What is a digital wallet and how does it work?

A digital wallet sometimes called an e-wallet, is a service that allows you to pay for things, usually through a mobile phone app. It also stores a number of other items a traditional wallet would hold, such as a driver’s license, gift cards, tickets for entertainment events, and transportation passes.

What is a digital wallet used for?

A digital wallet (or e-wallet) is a software-based system that securely stores users’ payment information and passwords for numerous payment methods and websites. By using a digital wallet, users can complete purchases easily and quickly with near-field communications technology.

Which is better PhonePe or Google pay or Paytm?

Experts suggest that all three digital transaction apps, more or less, are equally secure. While Google’s brand image definitely does some good to Google Pay. Paytm, and PhonePe continue to be easy picks for others due to their many features.

How to get PhonePe cashback?

Steps to get PhonePe cashback:

Download PhonePe App.
Do the needful for PhonePe Login / Signup.
Set Your Virtual Payment Address (VPA)
Click On Bank Accounts From Menu &Link Your Bank Account.
Recharge Your Mobile.

Paytm has the largest market share in India followed by PhonePe and GooglePay.

What is the difference between Paytm vs PhonePe?

Paytm Allows transactions across multiple modes like wallets, UPI, and payment gateway. PhonePe has started its wallet service but it is widely used for its UPI-based transaction which doesn’t charge you for any transaction.

Which wallet app is best in India or write a few Mobile wallet examples?

The best mobile wallets in India are:

Paytm
Google Pay
BHIM Axis Pay
PhonePe
Mobikwik
Yono (SBI)
Citi MasterPass
ICICI Pockets
HDFC PayZapp
Amazon Pay

July 16, 2025

PayPal – Empowers Digitalization with its Secured Online Payments!

Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

The transaction is the heart of the developing business world. It revolutionizes the global economy with its circulatory nature. Safety and Reliability are the main factors that define what the best transaction is, and thus describe the company PayPal.

PayPal, a company based in the United States, is a digital payment platform that allows individuals and businesses to send and receive money online. It is widely accepted as a payment method for online transactions and can also be used for in-store purchases. PayPal also offers other services such as money transfers and the ability to pay bills and make purchases through a mobile app. It is a fast, secure, and convenient way to manage money.

Let’s go through the Amazing Journey of PayPal along with getting a glance at PayPal’s Business Model, Founders, Revenue, Growth, Competitors, and more.

PayPal – Company Highlights

Startup Name	PayPal
Headquarters	California, United States
Sector	Financial technology
Founders	Peter Thiel, Max Levchin, Luke Nosek, Ken Howery, and Yu Pan
CEO & President	Dan Schulman
Founded	December 1998
Revenue	$25.6 Bn (2022)
Valuation	$87.19 Bn (Jan 2023)
Parent Organization	PayPal Payments Private Limited
Website	www.paypal.com

PayPal – About
PayPal – Founders and Team
PayPal – Vision and Mission
PayPal – Name, Tagline, and Logo
PayPal – Growth and Revenue
PayPal – Business and Revenue Model
PayPal – Competitors
PayPal – Achievements
PayPal – Future Plans

PayPal – About

PayPal was established as ‘Confinity’ in December 1998 by Max Levchin, Peter Thiel, and Luke Nosek. The company functions as a payment processor in many e-commerce sites, and auction sites. PayPal’s first electronic payment was launched in 1999. Being the PayPal platform, Braintree, Venmo, and Xoom enable users in flexible transactions with different currencies. The company was acquired by eBay in 2002 and got separated in 2015.

PayPal – Founders and Team

PayPal was founded in 1999 by Max Levchin, Peter Thiel, and Luke Nosek.

Dan Schulman is the President and CEO of PayPal. He did his Bachelor’s from Middlebury College and an MBA from New York University Stern School of Business. He was the former president of Sprint’s Prepaid Group and he was also the CEO of Virgin Mobile. He now works towards democratizing the financial services of billions of people.
The core team of PayPal is as follows:

Mark Britto – EVP, Chief Product Officer
John Rainer – CFO and EVP, Global Customer Operations
Louise Pentland – EVP, Chief Business Affairs and Legal Officer
Jonathan Auerbach – EVP, Chief Strategy, Growth, and Data Officer
Peggy Alford – EVP, Global Sales
Aaron Karczmer – Chief Risk Officer and EVP, Risk, and Platforms
Sri Shivananda – SVP, Chief Technology Officer
Franz Paasche – SVP, Corporate Affairs
Gabrielle Rabinovitch – VP, Investor Relations

PayPal – Vision and Mission

PayPal’s vision is to democratize financial services and empower people and businesses to prosper in the global economy.

PayPal – Name, Tagline, and Logo

‘Paying your Pal’ is the focus of the company, which gave rise to the name ‘PayPal’. ‘Because you have to’ and ‘Safe Hai’ are the taglines that PayPal used before.

PayPal Logo

PayPal – Growth and Revenue

PayPal’s revenue for the twelve months ending September 2022 was $27.053 billion, a 10.11% increase from 2021.

PayPal currently has over 432 million active users with more than 200 markets around the world.

PayPal – Funding and Investors

PayPal has raised a total of $216M over six different funding rounds.

Date	Stage	Amount	Investors
January 1999	Seed Round	Undisclosed	Confinity
July 1999	Series A	$3M	BlueRun Ventures
January 2000	Series B	$23M	Clearstone Venture Partners, Goldman Sachs
April 2000	Series C	$100M	Madison Dearborn Partners
February 2001	Series D	$90M	ING, Credit Agricole
July 2015	Secondary Market	Undisclosed	Public
July 2018	PIPE	Undisclosed	Third Point
July 2022	PIPE – II	$2B	Elliott Management

PayPal – Business and Revenue Model

PayPal charges its customers and merchants with net transaction fees which are based on Total Payments Volume. It also makes money through other value-added services such as from interest and fees earned on loans.

PayPal – Competitors

Google Wallet, Skrill, Wepay, and 2checkout are some of the biggest competitors of PayPal.

PayPal – Achievements

In the Forbes list, PayPal ranks 123rd among World’s Top Female-Friendly Companies (2022) and 45th in World’s Best Employers (2022). It is also recognized as America’s Best Employers By State (2022).

By revenue, PayPal was ranked 143rd on the 2022 Fortune 500 of the largest US corporations.

Year	Title	Rank
2022	World’s Top Female-Friendly Companies	123
2022	World’s Best Employers	45
2022	Best Employers for Women	282
2022	Global 2000	216
2022	Best Employers for Diversity	20
2022	America’s Best Large Employers	26
2021	America’s Best Employers	8
2021	Just Companies	26
2020	World’s Most Valuable Brands	67
2019	Top 100 Digital Companies	34
2019	Top Regarded Companies	5
2018	Growth Champions	218
2018	America’s Largest Public Companies	102

PayPal – Future Plans

Paypal has several plans and initiatives for the future, including expanding its services to more countries and regions, increasing the number of businesses that accept PayPal as a payment method, and developing new products and features to enhance the user experience.

Some of the specific plans that have been announced include the launch of a new service called “PayPal Commerce Platform” which allows businesses to easily manage their transactions across multiple sales channels, and the development of new technology such as biometric authentication to make payments more secure.

Additionally, Paypal is planning on expanding its cryptocurrency capabilities by allowing users to buy, hold, and sell digital assets.

Conclusion

PayPal is a widely-used and convenient online payment platform that allows individuals and businesses to easily send and receive money. With its secure and user-friendly features, it has become a popular choice for online transactions.

FAQs

Who is the founder of PayPal?

Ken Howery, Max Levchin, Luke Nosek, Yu Pan, and Peter Thiel are PayPal founders.

Where is the new owner of PayPal?

Dan Schulman is the current president and CEO of PayPal, and the former eBay CEO John Donahoe is serving as chairman.

Where is PayPal headquarters?

PayPal’s corporate headquarters are in San Jose, California, U.S., whereas the operative center is in La Vista, Nebraska, U.S.

Is it free to use PayPal?

Yes, it is free to use PayPal unless it’s a business transaction involving currency conversion or you want an instant bank transfer.

March 1, 2023

5 Best Alternatives for Stripe: All You Need to Know
The world has to come to a point where we can do anything with just a touch or a click. From shopping to dating, everything can be done online. There is hardly anyone who is not taking the benefits of the digital world. It is making our life easier and more convenient. Thanks to this, our money transactions can also be done online.

Digital transactions have taken the world by storm and almost everyone with a smartphone or a computer wishes to switch to digital payments. Not only digital payments are quick, seamless and efficient, but they have also become the need of the hour owing to the pandemic. In this article, we will talk about Stripe, which is a payment processing platform and the best alternatives it has. So. let’s get started.

What Is Stripe?
Alternatives to Stripe Payments Processor:
PayPal
Square
Adyen
Venmo
Authorize.net

What Is Stripe?

Stripe Website

Stripe is an integrated suite of payment products for e-commerce, applications and online marketplaces for accepting and sending out payments, from and to users. Stripe offers payments through the majority of financial technologies encompassing cards, checkout flows, and other digital transaction services that are constantly updated. Moreover, with over 99% uptime interface, scalability and best-in-class ML models, Stripe helps you avoid frauds and scammers and enhance revenue.

Although Stripe is one of the best payment processors, there are other applications which offer similar functionalities with different plans and pricing. Since different websites and applications have different requirements, a single plan might not necessarily cater to the needs of all such applications. Moreover, Stripe still isn’t available to use in some countries and costs more than many other payment processors. Hence, here we compare different payment processors, to help you decide which suits you best.

Alternatives to Stripe Payments Processor:

PayPal

PayPal Website

Paypal is a payments processor, and an excellent alternative to Stripe, owing to its fast working and seamless transactions. It offers payments for both individual retailers and businessmen, and larger businesses and enterprises, which include shopping on eCommerce websites, payment returns, B2B payments, and freelancer fees. PayPal offers all such amenities with buyer protection, for safekeeping of your finances, with an easy-to-set up PayPal account and login.

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Paypal for Business

About 54% of the customers tend to buy a product when PayPal is available at the checkout, which sure doesn’t seem much, but makes a difference nevertheless. For business needs, PayPal allows you to both receive payments from customers all over the world and make payments in over 100 different currencies and 200 marketplaces. It also furnishes 24/7 fraud protection along with seamless integrations through APIs and SDKs. Moreover, Paypal lets you get paid even if you do not have a professional website or an application with email payment requests, invoices, and personalized payment links.

Features offered by PayPal
- Payment through PayPal is extremely fast.
- Almost every country accepted PayPal
- The conversion of your local currency through PayPal is quite easy.
- The conversion fee in PayPal is lower compared to other payment gateways.
Checkout Paypal

Square

Square Website

Square payments gateway is all about accepting payments, irrespective of the online or offline market. It helps you accept payments, fast and secure with amenities such as card swipe through Square Reader, ApplePay or Google pay with NFC technology, online payouts, invoices and other digital means. Without any extra costs or long-term contracts, Square makes payouts as fast and seamless as possible, with affordable pricing. It furnishes you with the same costs for every card, with consistent and clear bills to pay monthly.

Amenities for E-commerce

Square offers solutions for selling online as an E-commerce website, as well as on social media such as Instagram. The solutions offered by Square are quite affordable and cost you only after you have actually started selling. Moreover, it offers more than just payment services, for running your established or thriving business, such as SEO to increase your search engine rankings and reach more customers. Square provides flexible tools, tailored to your specific business needs and scalability, and hence, can be suited to any number of enterprises or e-commerce sites.

Features Offered by Square
- Square is one of the quickest payment processors which offers to complete transactions within a business day.
- Square Point of Sale has an easy-to-set-up interface, offering real-time analytics and an intuitive inventory.
- It furnishes the users with a free Square Business Debit Card, to store and spend funds, while also keeping an eye on their cash flow.
- Square doesn’t require you to create a merchant account, pay a statement fee, charge-back fee or deal with payment disputes, with the bank.
- Be it the security of your data, or suspicious activity around your account, Square offers all-around protection and shields you against monetary fraud.
Adyen

Adyen Website

Adyen is a payments processor which helps you accept payments, expand your domain, enhance conversions and hence revenue, and also offers expert suggestions from experienced professionals. Adyen allows payment through in-app purchases, through websites, and in-store purchases without any location barriers.

Products offered by Adyen

Adyen offers products such as Online Payments, Point of Sale, Platforms, and Unified Commerce with global coverage and an effort to increase authorization rates. Embedded dashboards with organized statistics can be quite helpful when analyzing customer data to get insights on performance and reporting. Adyen’s Point of Sale offers a certified PCI-compliant terminal with simple API integrations and robust platform stability. Platforms allow you to accept payments with your preferred interface on a website, mobile application or through the point of sale along with faster checkouts and any preferred currency.

Features Offered by Adyen
- The most wholesome feature of Adyen is that it offers global acquiring through a single platform without any integrations, saving you the trouble of managing different payment methods.
- With cards ranging from Credit cards to Master cards to Alipay wallets, Adyen offers users a plethora of payment methods, to add to their checkout.
- Adyen uses a data-driven risk management approach, and with the help of a cross-country data network, identifies frauds behind false declines and monetary cheats.
- With the help of ML-driven models, Adyen helps you increase revenue with better authorization rates, customer experience, and low payment costs.
- Adyen also allows users to understand customer behaviour, geography, payment flow, approvals and declines through insights into customer data.
Venmo

Venmo Website

With over 60 million users, Venmo helps clients pay and accept payments fast and safely. With Venmo, you don’t just pay; you get to connect with friends and interact with emojis and stickers. You also get to manage your privacy settings, with no account set-up or money transfer costs. Venmo also allows you to seamlessly transfer money between your Venmo and bank accounts respectively.

Venmo for Business

Venmo allows you to accept payments with in-app purchases, online purchases, or in person, in a way very similar to the transactions between your friends, giving you, and your customer, a personalized experience. The checkout is seamless and familiar. Moreover, using Venmo Business allows you to get noticed by the 60 million other Venmo users, where your friends and customers can share their personalized experiences on their feed, in turn, boosting your reach. With just a single login credential, you can switch between business and personal profiles, and manage the business profile efficiently. Venmo also offers touch-free checkout with the use of unique QR codes for your business.

Features Offered by Venmo
- Venmo offers a business suite, in-app and online payments as well as Venmo debit cards.
- Venmo charges less when compared to the other payment processors and hence, enhances sales of your business.
- You get to discover places your contacts visit more often, and what they buy; while also being discovered for your side hustles, to grow your own business.
- Venmo Debit card is another such utility it offers, that helps you pay your favourite stores and also get cashback, while all the activities involving the card can be monitored through the Venmo application.
Authorize.net

Authorize.net Website

Authorize helps you make and accept payments with a variety of different options such as debit/credit, card e-checks to digital payments, among others. With a developer centre equipped with APIs, SDKs, and the best integration solutions such as a simple integrated ‘Buy Now’ button, Authorize offers solutions for eCommerce, Point of Sale, and card payments, all under one suite.

E-commerce Solutions Offered by Authorize

It can often be tricky to find the payment processing solution that fits all your business needs; lucky for you, Authorize helps you with all of that and more. Payment gateways authorize and process customer transactions until the purchase is made and the money transferred. This involves the authorization of the funds, then initializing payment and finally transfer of money from the customer’s card to your merchant account. Authorize helps you with not only the above but also comes with PCI-DSS compliance, fraud protection and prevention, solutions for multiple payment types and automated payments.

Features Offered by Authorize
- Authorize offers 13 fraud filters, which help identify and prevent you from being duped of your money. These filters include Velocity filter, IP filter, and transaction filter among several others.
- Authorize furnishes you with a Customer Information Manager with information such as billing, shipping, and payment, in compliance with PCI DSS standards.
- Automated Recurring Bills is another feature offered by Authorize which assists users with recurring, monthly instalments, or subscription-based plans.
- For avoiding lost sales and payment interruptions, Authorize constantly keeps your card information updated. This also helps deliver customers, an amazing experience.
- Get paid faster with Invoices. Invoices can be sent via customized email with your logo, and get paid from any mobile device.
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Conclusion

The above-mentioned are some of the best alternatives to Stripe, which offers equally proficient functionality and features. The cost per transaction for most payment processors differs by less than 1-2%, and most of them have similar transaction charges. All in all, the e-commerce industry is on the rise, and you might need an online payment processor to keep up with industry standards.

FAQs

What is Stripe?

Stripe is an integrated suite of payment products for e-commerce, applications and online marketplaces for accepting and sending out payments, from and to users.

What are some best alternatives of Stripe?

Some of the best alternatives of Stripe are:
- PayPal
- Square
- Adyen
- Venmo
- Authorize.net
Why Stripe is popular?

Stripe is popular because of its fast and secure payment processing.
June 7, 2022
The UPI War- Which App is leading the Cashless Payments Market in India?
There is a high chance that you don’t remember the last time you used ‘cash’ for a transaction at a Kirana store. The world is changing and it is becoming cashless, not a new thing but more like the new normal.

The shift from cash to cashless is so welcomed all over the world that it has become the new normal. Tech in transactions is the most in-demand technology and has proved to be really penetrative in every society.

The most famous technology is the UPI. It stands for Unified Payments Interface. It is the most favourite bridge that enables transactions all over India. We all know this and we see just this aspect of the story. However, that is not all. Behind the scenes, a lot of fights happen for customers and numbers. UPI apps are almost always constantly at war. In this article, we talk about these apps and what is the issue that they deal with. But first, the basics.

What is UPI?
Benefits of UPI
Total Transactions of UPI Apps in India
Factors of UPI Payments
A Detailed Look at the UPI App War
Unique and Differentiating Factors of UPI Apps
UPI Guidelines and Regulations

What is UPI?

UPI or the Unified Payments Interface is the most famous bridge of transactions in India. It is fast and secure which makes it the perfect alternative for cash. Handling cash is hard, handing a UPI is not hard at all.

Immense growth was led by UPI last year, which recorded more than INR 73 Lakh Crores in 2021. Moreover, a year-on-year rise of over 110% as opposed to INR 33.87 Lakh Crores transaction in 2020.

UPI is a system that has the ability to attach multiple bank accounts with a smartphone application. That application can be later used to transact with the bank that the user uses. This makes it easy to go cashless when your bank account is linked to the UPI app in your pocket. It’s like taking the bank in your pocket.

Benefits of UPI
- You can send money almost immediately through any smart device and even a basic buttoned device.
- UPI is available at any hour and any day of the year.
- As the name suggests, UPI is a unified payment method that enables a user to add more than one bank account to the application.
- 2FA is more than easy in this process. 2 FA stands for two-factor authentication which is easily managed with a UPI pin along with the inbuilt app pin.
- UPI is easy because it saves you the time of writing details like Card number, IFSC code and all the bank page clutter.
Total Transactions of UPI Apps in India

UPI is the future of payments, or should we say the smart present of payments. The numbers point in this direction as well. We see that just in the first month of this year, UPI transactions touched the cap of 461 crores. Those crores transactions totalled to be worth about 8.31 Lakh Cr.

The topmost player surprisingly was not Google Pay, In terms of market share PhonePe carried out 21,403 Crore transactions. Those mentioned transactions were worth INR 4.05 Lakh crore in the first month of the year.

The new entrant in the payments market, WhatsApp Pay saw the value and number of transactions grow to great magnitudes. The overall share of the company however is as low as 0.03 percent which entails about 13.4 lakh transactions in the first month. Those transactions were reported to be around 205 Crore in Indian Rupees.

In the month of January, the UPI transactions were recorded to hit the number 461 crore. Those transactions in the month touched the magnitude of 8.3 lakh crore in Indian rupees, equivalent to 111 billion dollars.

This number was not usual in any sense and was the highest recorded number in the history of UPI transactions. Even after this number is the highest in the magnitude of UPI transactions, it grew only about 1 percent month on month. This is in no doubt a jump and halt situation.

Noticing the surge in transactions and magnitude in the UPI sector, it was also noted that app performance had not grown that much. App wise, the growth was not new, it was the previous pace that continued and no jump was noticed in the app sector.

Apps performance recorded a single digit of growth in this month on month. Even in this segment, PhonePe was the winner that carried 4.05 lakh crore transactions. Google Pay, which most people were anticipating, did not come to the first resort. It was the second runner up in the race of UPI transactions. That maintained to get some transaction value that was worth almost three lakh crores.

The third number, in terms of transactions and magnitudes, was won by the Indian player that is also now a publicly listed company. Yes, you guessed it right, it is Paytm. Paytm saw a transactional rate of 85 thousand crores which was a fall from before. Amazon pay got transactions that were worth about 67 hundred crores. WhatsApp, the new entrant in the payments market touched the 205 crores of transactions with its messaging app which is now a UPI payments app too.

Among all these numbers, one thing is common, that thing is UPI. It is the transaction that everyone is looking at and it is also the point of conflict of many multinationals.

UPI war is on with all the players in the market. The goal is to get maximum density in markets and to get a viable customer experience that can increase loyalty. Before we read more about the ongoing UPI war let us read some important words in the UPI market. Basically how the UPI world works.

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Factors of UPI Payments

There are many technical terms that can confuse a noob when we talk about technology. The UPI world is also not an exception. Let us talk about a few things that the UPI entails before we read more about the UPI war.

VPA ID

VPA or virtual payment address is the virtual address of someone. As the name suggests, it is the address to which payment in a transaction can be directed. To begin a transaction, one has to share their virtual address to which the payee can direct the payment.

The payer has to confirm the VPA by entering the MPIN, or mobile pin, to be sure that it is an authentic translation and is done by the owner of the bank account. Once checked, the transaction is completed and a change in balance is reflected, without any delay.

QR code

QR code is a better alternative for VPA IDs, these are codes that can be scanned via a mobile device. Stores have these types of transaction mechanisms that help in the easy collection of payments from buyers.

They can be scanned from the UPI app itself and transactions can happen easily. This is easy and faster than sharing VPA IDs and most smart stores have them as a payment aid.

QR Code Scanner

Several Bank Accounts can be added using the UPI app and Several VPI Ids can be maintained. A maximum of 20 transactions is allowed in 24 hours. All transactions take place on a real-time basis.

The Mobile Number

Most people in India are not tech-savvy and this is a hindrance in payments via UPI. Even if someone sets up a VPA and UPI Id on a shopkeeper’s device, he won’t know it and would not remember it.

UPI apps save the day with one more feature. Mobile numbers can also direct payments to the right address. This feature was enabled recently and has massive use cases.

Every mobile number now is connected to the bank account of the holder and can serve as a UPI or VPA ID. They are known as linked MMID and can direct payments to the right bank account.

Bank Credentials

Another factor in payments of UPI is the bank credentials themselves. You can manually enter the saving account number and/or the IFSC code to the UPI app and the app can direct payments to that specific account. This is however not the best alternative to transactions but is popular in India.

NFC

New smartphones nowadays come with a new technology called NFC. NFC is an audio technology that is contactless and can connect two devices. This connection can also help in UPI transactions and is authenticated by both ends. According to RBI guidelines, one can interlink all their existing KYC compiled e-wallet accounts. But, only a few apps provide this service.

Market Share of UPI Apps and the Ongoing UPI War

A Detailed Look at the UPI App War

The UPI apps we are talking about, have their own territory. Market share refers to that territory in this context.

PhonePe

Last year the UPI app with the most wins was PhonePe. This year the war continues. PhonePe won on all the key metrics that there is to track payments. Be it the value of transactions, registered users and all the merchants’ average.

While PhonePe’s count of transactions remained the same, the volume of transactions rose to 48.7 percent. The startup has been the leader in the market with over 46 percent market share in the transactions volume processed last year. This metric proves the dominance that the UPI startup has gathered.

PhonePe’s share in transactions counts remained the same but the volumes transcended a big jump and it rose to about 48 percent. The company also claimed that the ‘registered users’ have crossed the 350 Million mark. They also mentioned that they were witnessing a 28 percent month on month growth from January to December 2021.

PhonePe is the first payment platform in India. Based out of Bangalore, this UPI payments app became the heartthrob of payers. The company collaborated with Yes bank to get into the UPI space and captured about 37 percent of the new market in India. Later, the company was acquired by e-commerce giant Flipkart. It is soon to be added as a valid payment option in Walmart India’s “B2B Cash & Carry Stores”.

They had the first movers advantage in many aspects. Just like the google pay (Tez earlier) app, the PhonePe app has a lot of features that make them stand out. With the money transfer limit using UPI set to ₹1 lakh, one can pay credit card bills too. An outstanding UI is a cherry on top.

Google Pay

Next in the line of market shareholders is the most household name of Google pay. They didn’t witness significant growth. The market share for google pay dropped from 37.5 per cent to 34.4 percent. According to an NPCI guideline, all third party UPI apps have to add a cap to the value of their transactions at 30 percent by December 2023. This can be good news for this fall in the market share of the US fintech giant.

With great goodwill at the back, Google really stands on a pedestal. The google pay UPI app is by far the most famous UPI payments app in India. Google has always remained a top innovator in every part. Any of the Google services can be relied upon. The name Google itself stands for efficiency and simplicity. The Google Play app has also made it easy for app users to use proximity features. They have NFC enabled in the app.

The payments app from google has all the features that it takes to make it the best UPI app out there. With online trade being a fast option for most people, google play also includes more than 2000 merchants partners in India alone. In India, Google pay is the second-largest UPI payments app with a market share of 35 per cent. It entails figures like 320 Million transactions in terms of volume and 61000 crores in terms of value being the guns on its trajectory.

The app really features loaded and has every feature of a top-notch character. Carrying the ‘Simplicity’ thing that google has managed to carry on all its services and apps, the UPI app has managed to get the second most UPI payments in the country.

PhonePe and Google Pay were the topmost choices of UPI payments in the last year. We will discuss the rest later, let’s focus on the war of these two first.

Paytm

Paytm is another famous name in the UPI segment. It has an inbuilt feature of wallet which can be used without KYC and bank account, this is one of the most unique features that the app has. It is also a differentiator. The war of UPI apps has led Paytm to get a share of almost 6% in the UPI segment. This is rather small but the app has a lot of potentials. The primary rivals are Google Pay and the leader PhonePe.

Paytm was the first digital payment service provider that had its hands on Indian territory. The homegrown brand is the largest digital wallet service provider in the country. The app is known to have dominated the cashless payments market. The company also claims that they have more downloads across Android and IOS than most UPI payments apps. The initial problems that the company faced were the UI and the acceptance of digital payments in India.

After updates and updates with learning’s and learnings, the Paytm app has improved much and now comes with an excellent UI. The app first lost in the war of UI and user experience but the overall performance has been quite impressive. It is the most famous homegrown UPI app in India. Founded by Vijay Shekhar Sharma and being a homegrown company, the startup has a lot of leverage that adds to its revenue.

Paytm is one of the easiest to use UPI apps out there and not only that, the app offers a long list of features. There is a unique wallet feature, then there is a Paytm bank, then a mall on your phone, it is also now entering the investments category.

You can pay your credit card bills, do shopping of all sorts and buy now pay later options are available too. Thus, this small package of apps offers a decent amount of features and accessibility to money and transactions. That is one of the main reasons for its market share of 6%, which is decent in India.

Amazon Pay

The next rival or participant in the UPI war is Amazon Pay. The new entrant in the market with great tech support and seamless payment options, amazon pay is out there to win.

As of November 2020, it was reported that amazon pay was the fourth most used app in the UPI segments. The app wins over everyone in terms that it is a sidekick of payments in shopping. The brand of amazon gives it a good boost. It was reported that Amazon Pay got 37.15 million transactions in volume that added to over 3600 crores in total value. Which is a pretty good sum in the segment.

Not only a shopping aid but the amazon pay app also offers payments of groceries and small buys at a Kirana store. The shopping integration of Amazon is really a great kick start but the app is also growing out of that segment too. Amazon pay got 37.15 million transactions in volume with Rs 3,624.51 Cr in transaction value in this month.

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Unique and Differentiating Factors of UPI Apps

The ongoing war is nothing but a fight of features and like-ability. The app that has the most unique and helpful factor wins the game and takes the customers. All the top players in the market which we discussed above have their own set of features and uniqueness. Here we will try to uncover what lies behind the bush of differentiators.

PhonePe

PhonePe, the most used UPI app in terms of volume, is bound to have awesome features and traits. The startup has made its app look really different and simple. The app is capable of linking various accounts and e-wallets to itself.

You can link free charge, Jio money, and e-wallets like Airtel wallet to your PhonePe account. The app also allows people to pay credit card bills within the app which saves a lot of hassle.

The users of PhonePe can even buy gold with the new update. Cashback and rewards are the most common features of UPI apps in the market. PhonePe has that, without mentioning it. The app follows all the guidelines of UPI payments and thus, one can make a transaction of upto 1 lakh. The app also has the basic categories of regular payments like electricity, gas broadband, data card and the like.

Bill payments and recharges are very easy on PhonePe and there exists a separate icon for money transfer from bank accounts. You can check bank balances too and they are super attentive to negative feedback. Which makes it the all-rounder UPI payments app.

Google Pay

Google Pay is another famous app. The UPI app from Google runs on the same principle as of the parent company Google. The app is simple and works every time without any hassles. However the wallet option is not available, the app does work overtime to make it right for users. You just need a mobile number and a bank account to start your payments. It is easy and reliable.

You can chat with a person on google pay before and after any transactions. The User interface and the experience that it entails is also top-notch. Payment services are available across all the Google services and they can also be used to 3rd party apps. There exist extensions like Zomato, Swiggy, Groww and etc. within the application itself. It is the first to use NFC technology. DTH, broadband, landline, mobile recharges are also reminded to the user. The app is secure and has a safety shield feature too and users can also enable biometrics.

Paytm

The app comes with an excellent user interface now and is completely made in India. Which makes it a famous application among Indians. The app has one of the most differentiating features of a wallet that helps it find a good product-market fit in the UPI segment. Many people who do not operate a bank account can go with this feature of e-Wallet. Paytm Payment Bank is linked with Rupay Virtual Debit Card.

Due to all the features and an excellent UI, the app works in most locations. From a small Kirana store to big malls, Paytm is accepted. You can even invest your money directly from the app itself. Paytm services range from bank to mall to mutual funds etcetera.

Amazon Pay

Amazon Pay is also a famous app because of its parent company, Amazon. The app first originated as a payments app for nearby UPI payments. Now the app has grown into a full-feature app on its own. It is a great aid in shopping for people who love to shop.

Apart from that the app also makes it possible to use it as a UPI payments app. This was the unique feature with Amazon pay but it is not that famous like Google Pay and others.

The reason is that many people don’t know about it, Amazon customers just use Amazon to buy something and forget about their account. Once this barrier is lifted, the Amazon pay app can be a big disrupter in the online payments market.

UPI Guidelines and Regulations

When the online market in the payments sector is booming, it becomes important that the market is regulated. NCPI has come forward to make some guidelines for UPI payments. Here we will discuss some of the most notable ones. These are the guidelines for TPAP, or third party app providers.

NPCI’s guideline had asked all the third-party app providers (TPAP) to cap their transaction value at 30% by December 2023. This means that UPI payment apps like PhonePe and Google Pay now need to rescue their market share. As per NPCI, the upper limit for UPI is Rs. 1.00 lacs.

The Third-party app provider guidelines for TPAP guidelines are also aimed to prevent oligopoly and to promote competition. Competitions will be healthy for the overall market and it has the ability to make the market a little better than before for everyone. These guidelines were also the reason why WhatsApp has a very small UPI share in the whole market. WhatsApps share is equal to 0.08 percent.

Adding to the guidelines above, The NPCI has also disallowed WhatsApp from leveraging its payment platform. They have ordered a cap of 50 crores. This means that Whatsapp payments will not go above the magnitude of 500 million dollars or 50 crores. It is to be noted that WhatsApp had around 487 million registered users in India last year. In 2021, it had 390 million active users growing 16% year on year in India alone.

It was recently seen that the messaging app WhatsApp is entering the payments market which makes people suspicious. WhatsApp was also made to put a cap on their payments feature to prevent monopoly over the market. Their users were limited to 20 million. But now the revised relief says that the company can double down the users of the payment, NCPI said.

Now the cap is reported to be 40 million and WhatsApp has done really well in the past financial year. In January, last month, WhatsApp recorded a total of 23.4 Lakh transactions. That was worth INR 205 Cr. It also entailed a 9% month-on-month growth (highest among the top four, mentioned in the article).

RBI has mentioned that about 50% of the transactions through UPI were below INR 200, thus, a framework to enable small value digital payments in offline mode has been announced. Users will now be able to make small transactions (within 200 rupees) offline (without the use of the internet). We will now be able to channel transactions without any instruments such as cards, wallets and mobile devices in any UPI app.

100% of post office banks will come under the core banking umbrella to boost financial inclusion. The move is aimed at giving access to post office bank accounts through net banking, mobile banking, ATMs, and also provide online transfer of funds between post office accounts and bank accounts, During the Budget 2022 speech, Finance minister Nirmala Sitharaman said.

To boost the adoption of digital banking services further and to mark 75 years of India’s independence, 75 digital banking units in districts will be set up by scheduled commercial banks, Finance minister Nirmala Sitharaman said.

“This will be helpful, especially for farmers and senior citizens in rural areas, enabling interoperability and financial inclusion,” she mentioned in her Budget speech.

All the guidelines point in one direction, and that direction is the direction of a cashless future. We are all moving to a cashless world where paper money will be a thing of the past. This was not easy before but looking at the current trends and shifts in technology, it is the near future. Exciting as it gets, the UPI market in India is set for more tides and currents.

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Conclusion

As per a report by ACI Worldwide, India retained the top spot in terms of digital transactions worldwide. India saw payments of 25.5 billion on a real-time basis. It is the highest number, followed by China.

No doubt, that the UPI market is set for growth in India and anyone capitalising on this will make real cash. This is the reason UPI payments companies are fighting for this and thus the UPI war.

Apps like PhonePe, Google Pay, Paytm and amazon pay have been fighting for market dominance and the market is evenly distributed in most parts of India. Besides growing in India, the Unified payments interface is all ready to enter overseas as well, reports say. UPI will be prevalent in countries such as the USA, the UK, Japan, China, Singapore, etc.

FAQ

Which are some of the Indian UPI apps?

Phonepe, Paytm, and BHIM are some of the UPI apps based in India.

Are UPI apps safe?

Yes, UPI apps are completely safe as it is regulated by the Reserve Bank of India & NPCI.

Which payment app is the best?

Google Pay, Paytm, Phonepe and Apple Pay are some of the best payment apps.
February 16, 2022
Marketing Strategies of Paytm [Case Study]
Paytm was established in 2010 and its parent company is One97. Vijay Shekhar Sharma is the founder of the company. Paytm has received a series of funding rounds from popular investors such as the Alibaba Group, Ratan Tata, Mountain Capital, etc. Smartphones with Android, iOS or Windows operating systems have Paytm services available to them.

What is Paytm?
Paytm’s Marketing Strategies
Conclusion

Full form of Paytm

What is Paytm?

Paytm is a leader in the industry of digital payments. Paytm is an Indian mobile app and online service which is used for making payments like recharging your phone or paying your bills and also allows user to transfer money over the Paytm wallet. Debit and credit cards are the modes selected for these transactions. This prompted many to use Paytm as the government concentrated on cashless transactions.

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Paytm’s Marketing Strategies

Paytm introduces cashless transaction schemes

The potential market for online marketing as well as cashless transactions has also increased with the growth of mobile phone users in the world. The company has been able to hit the customers with smart phones with its cashless transaction schemes.

Operating system that supports Paytm
- Paytm launched ‘Each one, teach one’ to increase cashless payments literacy – Back in 2016,the company had announced Rs. 2100 in scholarship for 10,000 users who help increase digital inclusion and adoption of Paytm and certificates for one lakh further users across all major districts.
- Paytm had also announced an incentive including Rs. one crore grand prize along with additional prizes like motorcycles, smartphones, laptops and other exciting gifts. All users transacting between 1st December 2016 and 31st March 2017 were eligible to win these prizes.
- The ‘Scan any QR to pay using Paytm’ scheme has been launched in seven languages which are Bengali, Marathi, Gujarati, Tamil, Telugu, Kannada, and Malayalam.
Paytm’s Cobranding

Another USP of the company is co-branding. Brand cooperation with businesses such as Uber and Meru Cabs has been successfully developed. Many more reputable brands have been helpful in getting new customers to use Paytm.

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Paytm’s Promotion And Advertising Strategies
- Newspaper, transit media and television were the company’s offline communication networks. The Paytm promotions also used digital, print media and radio services.
- Paytm was made a household name, using a phrase from the catchy word “Paytm karo”
- The company’s online advertisement strategy is focused on bringing visibility everywhere by sharing their ad on Facebook and Twitter, and even sponsored posts on Instagram and at time’s even Snapchat.
Paytm’s Discount Offers
- The biggest selling point for paytm was without question motivating people to use the offers that have been run by the company.
- Add to these the cashback offers and discounts offered by mobile wallets like Paytm, as well as the reward points and loyalty benefits on existing credit and store cards.
Events sponsored by Paytm
- The company was involved in sponsoring a variety of events, tournaments, etc. that gave the brand an immense exposure.
- Paytm is the official sponsor and supporter of India’s cricket team, which would give the brand worldwide publicity and exposure.
- The company has got 120 seconds of airtime for each match played on the tournament, and the brands popularity increased during the World Cup has resulted in the launch of new TV advertisements during the IPL 8 season.
Campaigns made by Paytm

Here is a list of the successful campaigns and partnerships with leading brand run by Paytm:

Paytm Karo

This is one of the key announcements that rapidly gained populism. The company has become active in social media. #PaytmKaro is being added to almost every conversation that is being driven on Facebook and Twitter. The ad rolls out some life situations such as money transfer, online shopping, mobile recharge which are made easy by Paytm services.

Facebook Live

Paytm has imbibed its customers with details about the value of user account security and how they are protected against hacking. Paytm conducted a series of live Facebook training series, “Paytm Merchant Connect- Training Series” which turned out to be a great success.

The Soldier Mobile Game

It’s become a perfect campaign for technology-friendly people and game lovers throughout the world. The match reveals the battle against the dishonest militias of Spartan Paytm troops. The game targets the mission of the company of protecting its users interests.

Credit cards

The card’s use was beneficial when the wallet was successfully used by the company. By using the Username and Passwords customers can withdraw money from their wallet reservations.

Dabbawallas in Mumbai

Strategic ties between the business and the competent lunch servers in Mumbai City. These messengers only pay through the Paytm App.

Auto-start of the SMS for a month:

Paytm continues to send customers reminders regarding payments. The messages are intended to notify the customer that the digital wallet can be used to make those payments easily.

MBA contest

A contest held for students attending MBA courses are invited to produce a video about the use of the paytm application. The winner will be the person whose videos receive the maximum number of likes.

Conclusion

Paytm has successfully induced Indians to rely on the use of cash in regular daily businesses. Instead, people in the country prefer to make digital payments for such transactions. There’s one initiative called Aadat Se Azadi or Habit Free. This is achieved by highlighting problems facing people when dealing with cash. It was also stressed why and how people feel insecure when they go out with plenty of cash.

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FAQs of Paytm’s marketing strategy

1. How many users does Paytm have?

More than 150 million people actively use Paytm wallets for making online transactions.

2. How many merchants have accepted Paytm as mode of payment?

3 million merchants accept Paytm as a mode of payment.

3. What is the process of using Paytm?

Utilizing net banking, credit/debit cards, IMPS or any other way listed on the bank you have to move some money when you are registered with Paytm. In order to pay you scan the cod or type in the number of the vendor.

4. How can you identify if a store uses Paytm?

In addition, the blue Paytm logo can easily be identified. The physical presence of the brand is attributed to the presence of stickers, hanged posters, Paytm posters etc helps users to identify if payment can be made through Paytm.
February 1, 2021
NorthMist – Bringing in the Gorgeous Fusion of Fashion and Sustainability
Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.

Recently we have been quite seeing a trend about using organic products. Also, there’s been a lot of buzz about how great these products are for human health and also society at large. Following the same insight, Smrity Gupta and Arijit Mazumdar launched NorthMist in 2018.

NorthMist primarily offers 100% organic cotton t-shirts, in three categories- polo neck, round neck full sleeves and round neck half sleeves. They are priced at INR 1199 each, INR 899 and INR 799 respectively.

NorthMist – Company Highlights

Startup Name NorthMist

Headquarter Bangalore

Sector Clothing

Founder Smrity Gupta and Arijit MAzumdar

Founded 2018

Website NorthMist

NorthMist – About and How it works
NorthMist – Target Market Size
NorthMist – Founders and Team
NorthMist – How did it start?
NorthMist – Name, Tagline, and Logo
NorthMist – Startup Launch
NorthMist – Business Model and Revenue Model
NorthMist – Startup Challenges
NorthMist – Competitors
NorthMist – Funding and Investors
NorthMist – Advisors and Mentors
NorthMist – Growth
NorthMist – Future Plans

NorthMist – About and How it works

All the products at NorthMist are made of 100% organic cotton, sourced from exclusive and certified vendors, and manufactured in a pro-sustainability strategy. Also, all the products are ensured to be supremely authentic of being environment-friendly products. NorthMist procures raw materials in-house, from vendors, who are under the sustainability umbrella and supply only to it. Having multiple vendors for each of the raw materials, it picks the best and thus gets the best price in the industry. Moreover, it operates on a low inventory model with a turn-around time of 7 days. Through real-time orders and fast processing, which are pretty uncommon as well. Combined, this makes it stand apart from the present competitors.

Low inventory levels, less stock, a small and efficient team and faster turnaround time pull down chances of loss while promoting faster decisions and cost-cutting opportunities. And that’s how it works at NorthMist.

NorthMist – Target Market Size

The apparel landscape in India is believed to be ruled by startups in the near future and going by the consumer preference pattern, eco-friendly start-ups will soon be at a better position, compared to bigger brands. Indeed, these are the reasons behind this startup venture too.

NorthMist – Founders and Team

Smrity Gupta and Arijit Mazumdar are the Founders of NorthMist

“Smrity and I were co-workers. Shared philosophy and zeal to do something big allowed us to become friends.” Says the founder, Arijit Mazumdar.

Arijit has a master’s degree in power engineering and has excelled in many fields including business negotiations, business development, and sales. Smrity, the co-founder of NorthMist is a fashion technology graduate from NIFT and holds immense knowledge of the industry. Her insights about the industry, her keen eye for detail and her experience made the journey of starting a fashion business easier for this duo.

NorthMist Founders

NorthMist has an in-house team that consists of about 15 people, encompassing different arena of expertise. It has a sales head, content marketer, visual designer, digital marketer, operations executives, and a production team. Eco-warriors as the venture identify the team. All decisions are taken by the in-house team of experts, who share a similar outlook towards sustainability. NorthMist also has an extensive network of freelancers working for it. At this moment, NorthMist has a strong team of 25 individuals.

When the founders hire people, they ensure that the candidates believe in the concept of sustainability or are at least familiar with the concept of sustainability. There is no hierarchy in the office. Though every individual has their own role to play, when required, everyone can contribute. Every Saturday the core team conducts “brainstorming” sessions, where every team member shares their ideas for brand growth. From birthday celebrations to team outings, playing games to fun sessions, the work environment at NorthMist is all about being happy and content.

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NorthMist – How did it start?

“My co-founder and I shared the same philosophy- to make the world sustainable. This motivated us to come up with the idea of NorthMist.” Says Arijit Mazumdar. Both of them were working, however, their ambitions were different. All they wanted was to start their own brand. Since both of them were quite inclined towards adopting a sustainable lifestyle, their aim was to start something around it. And hence they started brainstorming on what they could do to bring about change in the world. And this motivated them to establish NorthMist.

During the inception days, they were just 2 people. They worked really hard, supporting each other through all hurdles, which honestly were in abundance. The founders worked hard to realize our dreams. The first few months were all about tight schedules and deadlines. They would conduct surveys and get direct feedback from the customers. The focus was to create awareness and they ensured to do so using various channels. They kept the product line limited to draw more attention to the quality of the same. It was difficult, but fun nonetheless. When you have your friend by your side, sharing similar ambitions, everything becomes easier!

NorthMist – Name, Tagline, and Logo

The etymology of NorthMist is such- “North” is the head of directions and “Mist” is often associated with nature. Put these two terms together and one gets “NorthMist”, which literally means ‘to head towards nature.’

Northmist Logo

The founders wanted a name that was simple and relatable, yet strong in its resolution. And let’s not forget, a name that would convey the concept of being eco-friendly perfectly. NorthMist fitted the bill effortlessly.

“It took us about a month, a self-determined deadline and suggestions from our friends to come up with an impeccable name for the brand. And today, we can say proudly that we have it.” Added Arijit Mazumdar

NorthMist – Startup Launch

After launching NorthMist in March 2018, the founders started participating in co-working events. We Work, CoWorks, Coho, 91 SpringBroad, they went everywhere to showcase the products. For the first eight to nine months, they were dedicated to doing events. This helped them to create a strong customer base. Then, they dedicated their efforts to retargeting these customers. They also started collaborating with marketplaces like Amazon and Flipkart to create more awareness.

The founder’s equally used social media platforms to garner the attention of the target audience. This helped them scale the brand and add visibility to the products. NorthMist’s journey from 50 to 5000 has been extraordinarily inspiring and only motivates the team to do better every day.

NorthMist – Business Model and Revenue Model

The business model of NorthMist follows can be classified broadly into B2B and B2C categories. Under the B2B model portion, it has wholesale, dropshipping and inbound corporate. B2C model, on the other hand, relies on its own website and e-commerce platforms like Flipkart, Amazon and The Better India for the sale of our products. NorthMist is also registering on national and international online marketplaces like LBB, Step Set Go, Ajio and more. In terms of offline presence, its products are available in Organic World and Go Native stores pan India.

NorthMist – Startup Challenges

Major challenges in the Indian apparel and fashion industry lie on factors like poor infrastructure, limited reach and unorganized market. Furthermore, for startups in India, the criteria to meet for Government funding are extensive and slow.

Another major challenge is to create awareness. Considering the fact that sustainability is a relatively new topic with very less exposure, convincing customers to make a switch is fairly difficult. Not impossible though. “Our motive was clear, to reach as many people as we can and motivate them to make a shift to sustainability.” Says Arijit. The process was time-consuming, but their constant efforts have ensured that they are reaching the right. Communication plays a major role in a business such as NorthMist’s, and the core team seems to have mastered it. Garnering attention can still be challenging yet they are doing it quite well.

NorthMist – Competitors

Competition is quite huge as more than 300 international fashion brands are expected to create a footprint in India. Besides, the Indian apparel market predicts growth to $124 billion by the end of 2020. Also, more startups are certainly on the pipeline as the apparel space in the country is projected to be ruled by startups in times to come. Eco-friendly startups will occupy a big share, as consumers these days are increasingly making sustainable choices.

When it comes to sustainability, the number of brands is quite limited; however, to name a few, NorthMist is in direct competition with No Nasties, Turmswear, and March Tee.

NorthMist – Funding and Investors

NorthMist has a set of angel investors, who have invested Rs. 1 crore inequity of the business.

The first round of our series of funding came from Sanjay Koul, Managing Director and chairman of a top US company; Birju Gala, CEO of a leading company; Soumendra Biswal, Head of Corporate Affairs of a leading export company; and Srinivasan Sarangpani, Director of Supply Chain at a US company. The majority of the funding has been invested in R&D of our products, hiring the right team for delivering the best, marketing and creating awareness among consumers about the brand identity and sustainability goal.

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NorthMist – Advisors and Mentors

The list of advisors and mentors of NorthMist include:
- Venkatesh Maheshwari
- Sriram Sundaravadanan
- Rajiv Mehta
NorthMist – Growth

In the last fiscal year, NorthMist has had a turnover of 30 lakhs. It has also got tremendous responses from conscious customers from cities across India. Metros and Tier 1 cities like Mumbai, Delhi, Kolkata, Chennai, Hyderabad, Pune and Bangalore have together recorded maximum sale figures for NorthMist.

NorthMist – Future Plans

Staying pivotal to the sustainability factor, NorthMist has plans to diversify. Adding to the existing men’s t-shirt categories, it will be launching women’s wear and a new range of sustainable hoodies soon.

As for short term goals, NorthMist looks forward to having a total turnover of 500 crores in the next five years; expand in terms of products under the sustainable lifestyle category. It wants to grow the business within India and beyond the geographic boundaries through different distribution channels and multiple branded outlets.

“We are a pro-sustainability company; hence, sustainability is our long-term vision. The planet belongs to each of us and saving it from further damage is surely our responsibility. Instead of combating against brands, a collaborative effort of all sustainable brands making conscious choices of environment-friendly products should be the future.” Concluded Arijit Mazumdar.
November 25, 2020