Tag: 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

MobiKwik Co-Founder Upasana Taku Success Story: India’s First Female Fintech Leader

With the rise of technology, it was just a matter of time before people shifted to online transactions. While this mode of payment became popular, many companies introduced the idea of e-wallets. One company that stands out in this space is MobiKwik. It is an Indian fintech unicorn that has made digital payments simpler and more accessible for users.

Behind the success of MobiKwik is a determined leader, Upasana Taku. The company was founded in 2009 by Upasana Taku and Bipin Preet Singh. Taku has played an important role in building the company and taking it to greater heights. Under their leadership, MobiKwik became a prominent player in the fintech industry. In December 2024, the company went public with its IPO opening for public subscription.

In this article, learn more about MobiKwik’s co-founder Upasana Taku, her education, her career, the challenges faced, and more.

Upasana Taku – Biography

Name	Upasana Taku
Birthplace	Gandhinagar, Gujarat
Born	1980
Nationality	Indian
Education	B.Tech in Industrial Engineering (NIT Jalandhar), MS (Stanford University)
Profession	Entrepreneur
Position	Co-Founder, Executive Director & CFO of MobiKwik, Co-Founder of Zaakpay
Spouse	Bipin Preet Singh
Company	One Mobikwik Systems Ltd (MobiKwik)

Upasana Taku – Early Life and Education
Upasana Taku – Career
Upasana Taku – MobiKwik
Upasana Taku – Coming Out of The Comfort Zone
Upasana Taku – The Journey of MobiKwik’s Growth and Milestones
Upasana Taku – Challenges Faced
Upasana Taku – Success Mantra
Upasana Taku – Awards & Recognition

Upasana Taku – Early Life and Education

Upasana Taku was born into a Kashmiri family in Gandhinagar and grew up in a family of academicians. She completed her schooling in Surat and went on to pursue engineering at the prestigious Dr B.R. Ambedkar National Institute of Technology, Jalandhar. Taku holds a B.Tech degree in Industrial Engineering from that institute. She did her MS in Management Science and Engineering from Stanford University, USA.

Upasana Taku – Career

After completing her Master’s, Upasana Taku’s career began in 2004 at HSBC Auto Finance in San Diego. She worked as a Business analyst in product management, where she was successful in many areas, like marketing and outreach, forecasting, and market research. She then joined PayPal in 2006. There, she worked as a Senior Product Manager. During her tenure at PayPal, she learned about payment systems in the Americas, Europe, and Asia. Apart from that, she also gained knowledge about risk detection and fraud management, user experience, and design at PayPal.

All these experiences laid a solid foundation for the founding of MobiKwik in 2009. In 2012, Upasana Taku launched Zaakpay, a payment service by MobiKwik. It offers mobile and online payment solutions to eCommerce companies in India, staying true to the values of its parent company.

Currently, Upasana Taku serves as the Co-founder, Executive Director, and CFO of MobiKwik, where she continues to work on the company’s financial strategies and growth.

Upasana Taku – Coming Out of The Comfort Zone

Bipin Preet Singh and Upasana Taku - MobiKwiki Co-Founders | Upasana Taku MobiKwik — Bipin Preet Singh and Upasana Taku – MobiKwiki Co-Founders

In 2008, although she had a comfortable life with her corporate job, she realized that she no longer wanted to be a corporate drone. According to her, work was becoming too easy, even though she worked on some high-impact projects and accumulated millions of dollars. But she wanted to come back to India and contribute to the Indian startup ecosystem. Well, this was the turning point of Taku’s career!

Her family didn’t support her decision to return to India, as they saw it as a big risk. At PayPal, she had a successful career, and she enjoyed a comfortable life. Despite all this, she was back in India in 2008.

While she was figuring out her next steps, she worked with Drishtee, a rural microfinance NGO, in Bihar and Uttar Pradesh, helping to empower local communities while gaining a deeper understanding of the challenges and opportunities in rural India.

In the subcontinent, she met a lot of people and extracted ideas about the buzzing sectors and unsolved gaps in the business and startup ecosystem. According to her, a wallet like PayPal was not popular in India. Therefore, users could never imagine a cashless world. Well, the example of India gave the idea to resolve this gap and work for the advancement of technology in the country.

While working on her ideas and project, she happened to meet Bipin Preet Singh in India through a common friend. Together, they started their fintech venture with a shared vision of disrupting the payments industry in India.

“It was a time when our parents would go to a nearby shop to recharge phones and that is when the idea of a mobile wallet business struck us which could pave a way to make consumer payments simpler. Fast forward to now, India is at the cusp of a digital revolution and the payments industry is witnessing a disruption like never before. We kind of saw this coming almost a decade ago,” said Taku in an interview.

Upasana Taku – MobiKwik

Upasana Taku co-founded MobiKwik in 2009 with Bipin Preet Singh, who serves as the CEO and is also her husband. MobiKwik is one of India’s leading mobile wallets and financial services platforms. The app allows users to make payments like mobile recharges, bill payments, and bank transfers. It also offers services like instant digital loans, investment options in digital gold, mutual funds, fixed deposits, and credit card bill settlements.

A key feature of MobiKwik is Pocket UPI. This allows users to make UPI payments without linking their bank accounts. Under Upasana’s leadership, MobiKwik has expanded its services, making it one of the most trusted and widely used platforms in India.

Upasana Taku – The Journey of MobiKwik’s Growth and Milestones

Upasana Taku’s Mobikwik is very simple and need-based. Initially, they launched the company as a recharge platform, and soon, within a few years, it became the face of mobile wallets in the country. At a time when people were dependent on physical cash for a trivial amount like INR 10, Taku revolutionized the sector by bringing the concept of a physical wallet onto the big stage. Presently, a millennial or Gen Z cannot imagine going to a shop for small recharges; all he/she need is to use an app to cover all the recharges. Now, Mobikwik has grown exceptionally as a company. In 2010, the company hired its first employee, and it was somehow very difficult for the team to find someone with the same mindset to serve the community.

In 2011, the team grew very slowly, with a team member count of six! They were dependent on the home-office sector. Even on their wedding day, Taku and Bipin Preet had to work for the company! Later in 2011, they rented their first office which had five rooms. Within a short period, they were growing at an exceptional pace and were a team of 35 people by June 2012. In September 2012, the team applied for RBI’s PPI license, and they received it in July 2013.

This was a milestone for the team as it was a symbol of their growth. The first round of the company’s funding was $5 million, which enabled them to shift to a larger office in Udyog Vihar, Gurugram, with 50 employees. The second round of funding came in 2015, they were able to draw funding of $25 million from Sequoia Capital, American Express, Tree Line Asia, and Cisco Investment.

Under her leadership, MobiKwik achieved major milestones, becoming a unicorn startup in October 2021 and launching its IPO in December 2024.

Upasana Taku – Challenges Faced

Upasana Taku’s journey has not been easy. When she was starting MobiKwik, she faced some tough challenges, especially because she was a woman in a male-dominated field. During investor meetings, she was often asked personal questions like why she wasn’t married by 30 or how many children she had. People even mistook her for her husband’s assistant instead of recognising her as a co-founder. New employees at the company would also question whether they should report to her or a male manager.

Taku faced gender bias in the investor meetings as well. She shared that some financiers told her they preferred male founders. In response, she would confidently say that her male counterparts might not be able to answer their questions as well as she could. She made it clear that she would never work with such people.

Despite these challenges, she remained focused, communicated clearly, and continued working towards the success of her company. Even when she was pregnant, she didn’t slow down. Upasana continued working and even attended a board meeting just a day before her cesarean surgery. Coming from a lower-middle-class background, she worked hard to earn a scholarship to study at Stanford University in the US.

While things are slowly getting better for women in business, Upasana acknowledges that there is still progress to be made. Her story is a great example of how, with hard work, determination, and courage, women can overcome any challenge.

Upasana Taku – Success Mantra

Taku’s mantra “Kick up a storm or die trying” has helped her to stay focused in difficult times. According to her, Tenacity is the key. Hence, her hard work and desire to serve the startup community have made her an inspirational figure for many aspiring entrepreneurs.

Upasana Taku – Awards & Recognition

Upasana Taku - Awards and Recognitions | First Woman to Lead a Payments Company in India — Upasana Taku – Awards and Recognitions | First Woman to Lead a Payments Company in India

Forbes “Asia’s Women to Watch (2016)”
Best Woman Entrepreneur Award 2017 by Associated Chambers of Commerce and Industry of India (ASSOCHAM)
In 2018, she received an award from the President of India for being the First Woman to lead a Payment Gateway Startup in India.
Forbes Asia’s Power 25 Businesswomen (2019)
In 2024, she was honoured with the ‘Unstoppable Icon’ award and recognised as India’s Leading Tech Founder & one of the Top 15 Richest Self-made Women in India.
In April 2025, Taku was recognized in Fortune India’s “100 Most Powerful Women in Business 2025” list, celebrating her impactful leadership and achievements in fintech.
Taku has been appointed as the Vice-President of the Executive Committee at the Unified Fintech Forum (formerly DLAI).

FAQs

Who is Upasana Taku?

Upasana Taku is the co-founder and CFO of Mobikwik, India’s leading mobile wallets and financial services company.

What is Upasana Taku age?

Upasana Taku was born in 1980 into a Kashmiri family in Gandhinagar and grew up in a family of academicians.

What is Upasana Taku education?

Upasana Taku’s education includes a B.Tech in Industrial Engineering from NIT Jalandhar and an MS from Stanford University.

What is Upasana Taku net worth?

While the exact net worth of Upasana Taku is not publicly available, in 2024, she was recognised as India’s Leading Tech Founder and one of the Top 15 Richest Self-made Women in India by CNBC-TV18.

What is Upasana Taku’s MobiKwik net worth?

As of May 12, 2025, MobiKwik’s market capitalisation stands at approximately INR 1,925 crore (around $232 million), based on its current share price of INR 247.80. This reflects a significant decline from its peak valuation of INR 4,102 crore (approximately $494 million) during its IPO debut in December 2024.

Who is Zaakpay founder?

Zaakpay, co-founded by Upasana Taku and Bipin Preet Singh (also MobiKwik co-founders), is a payment gateway service provided by MobiKwik. It focuses on fast, innovative digital payment solutions, tackling challenges in payments, reconciliations, and user experience. Recently, Zaakpay received RBI approval to operate as an online payment aggregator, further enhancing its capabilities.

May 12, 2025

Sameer Nigam: Founder & CEO of PhonePe | Biography

Sameer Nigam is an Indian Entrepreneur who founded PhonePe, a UPI-based online payment system in 2015 and serves as its Chief Executive Officer (CEO). He also served as the Senior Vice President of engineering at Flipkart. In 2009, he launched his very first venture Mime360, which connects content owners to content publishers. He made a personal investment in an organization called Artifacia on 14 January 2016. He was listed in the top Indian business leaders 40 under 40 list by The Economic Times. He has a net worth of INR 17 crore.

Let’s go through the success story of Sameer Nigam along with getting a glance at Sameer Nigam’s Net worth, Education, personal life, how he founded PhonePe & more.

Sameer Nigam Biography

Name	Sameer Nigam
Born	1978
Age	47 (2025)
Nationality	Indian
Education	University of Mumbai, University of Arizona; The Wharton School
Profession	Entrepreneur
Position	Founder & CEO, PhonePe
Net worth	INR 17 crore (2017)

Sameer Nigam – Family
Sameer Nigam – Education
Sameer Nigam – Professional Life
Sameer Nigam – Founder of Mime360
Sameer Nigam – Founder of PhonePe
Sameer Nigam – Controversy
Sameer Nigam – Honors & Awards

Sameer Nigam – Family

Sameer Nigam was born in Delhi and currently resides in Bangalore, Karnataka. His father worked in the Indian Navy and is an IIT graduate. Sameer Nigam’s mother is an entrepreneur and cleared her IAS on the first attempt at 40. Sameer’s wife is a consultant and together they have a son and a daughter.

Nigam made his way from Noida to Mumbai and finally to Bangalore where his company PhonePe is headquartered. His venture got a tremendous boost from the demonetization policy, which the Indian government announced in the same launching year of PhonePe.

Sameer Nigam – Education

Sameer completed his formal education at DPS Noida. He received his Computer Engineering degree from the University of Mumbai. He further went to the University of Arizona for a Master of Science in Computer Engineering (1991-2001). Later, he studied Master of Business Administration in Entrepreneurship at The Wharton School, University of Pennsylvania (2007-2009).

Sameer Nigam – Professional Life

Sameer Nigam, the Phonepe owner, served as the Director of Search Product Development at Shopzilla from May 2001 to June 2007. He then launched his venture, Mime360 in 2009 which is an online social media distribution channel. The company was later acquired by Flipkart.

He served at Flipkart from October 2011 to August 2015. While working for the eCommerce giant, he worked in several divisions including Marketing and Engineering as Vice President and Senior Vice President respectively. He further launched his digital wallet platform PhonePe in 2015, where he is positioned as the CEO.

He did exceptionally well in his corporate career with cordial entrepreneurial experiences to his credit. He displayed his skills in product marketing, eCommerce, strategic partnerships, online marketing, digital strategy, user experience, web applications, startups, mobile marketing, digital media, special needs, business development, web development, web analytics, and many more.

He is highly skilled in team management, digital marketing, non-medical homecare, lead generation, search engine optimization, strategy, mobile applications, mobile advertising, and online advertising.

Sameer Nigam – Founder of Mime360

In 2009, Sameer launched his first venture Mime360 (Mallers Incorporation), an online media distribution channel headquartered in Mumbai, India. The company offers an exchange platform connecting content owners with content publishers including Saregama, Indiatimes, and others.

Mime’s security is aided by API Feeds that help to prevent piracy and allow a large number of publishers to sell the licensed content globally. Most importantly, Mime eliminates various infrastructure costs for partners including content management, storage, and local data center bandwidth, and authorizes content owners to even set regional pricing.

Mime360 was acquired by Flipkart. The eCommerce giant has been looking to acquire small companies to grow the team. After the acquisition, some of Mime’s employees joined Flipkart to launch a digital music distribution service later. The strong entrepreneurial zeal, vision, and experience kept Sameer going and he soon launched another venture.

Sameer Nigam – Founder of PhonePe

Sameer launched his Unified Payments Interface (UPI) based startup, PhonePe in December 2015. He is the Founder and CEO of Bangalore headquartered PhonePe. He is a member of the Board of Directors at the company and advises on Marketing and several other strategies.

Sameer along with two of his friends, Rahul Chari and Burzin Engineer brought the idea of launching and designing an online payment app based on UPI. The PhonePe application went live in August 2016. It is available to users in over 11 Indian languages.

PhonePe was acquired by Flipkart in 2016. However, the e-commerce giant came into the ownership of US-based Walmart Incorporation in 2018 worth $16 billion. The acquisition of PhonePe was with the aim of expanding its online shopping footprint in India.

PhonePe’s first annual report shows a 73% revenue increase to INR 5,064 crore, with the company posting an adjusted profit of INR 197 crore after a INR 738 crore loss last year. Founders Rahul Chari and Sameer Nigam each earned INR 5 crore in FY24, with lower ESOP valuations compared to the previous year.

PhonePe IPO

PhonePe has officially become a public company, as confirmed by regulatory filings.

The change was approved at an extraordinary general meeting held on April 16, 2025, and the company’s name has been updated from PhonePe Private Limited to PhonePe Limited.

This move marks a significant step toward its much-anticipated IPO. PhonePe has been gearing up for a domestic listing, having recently shifted its headquarters from Singapore to India and appointed four investment banks to guide the IPO process. PhonePe is targeting a valuation of up to $15 billion as it prepares to strengthen its presence in India’s fast-growing fintech sector. Backed by Walmart, the company has brought on Kotak Mahindra Capital, JP Morgan, Citi, and Morgan Stanley to guide its IPO journey.

Sameer Nigam – Controversy

PhonePe founder and CEO Sameer Nigam issued an apology on Sunday for his comments about Karnataka’s draft job reservation Bill, clarifying that he never meant to offend the state or its people. His statement came in response to a ‘Boycott PhonePe‘ campaign initiated by Kannada groups, including the Karnataka Rakshana Vedike and other pro-Kannada organizations. The campaign started on social media after Nigam’s post on X, which commented on the Karnataka Cabinet’s approval of ‘The Karnataka State Employment of Local Candidates in the Industries, Factories and Other Establishments Bill, 2024’.

Here is the post that he made on X which caused backlash:

I am 46 years old. Never lived in a state for 15+ yrs

My father worked in the Indian Navy. Got posted all over the country. His kids don’t deserve jobs in Karnataka?

I build companies. Have created 25000+ jobs across India! My kids dont deserve jobs in their home city?

Shame.

— Sameer.Nigam (@_sameernigam) July 17, 2024

Below is the apology that he shared on X:

My personal statement, clarifying my views on the Karnataka draft job reservation bill and its unintended consequences. pic.twitter.com/vt5aLjmezK

— Sameer.Nigam (@_sameernigam) July 21, 2024

Sameer Nigam – Honors & Awards

The Wharton Business School, University of Pennsylvania conferred him with the Wharton Venture Award in 2008. He has participated in two events. He attended the 16th NASSCOM Product Conclave 2019 on 5 November 2019, held in Bangalore, Karnataka, India, Asia. He attended Money 20/20 Asia 2019 as a Speaker on 19 March 2019 held at Central Region, Singapore, Asia.

His venture PhonePe was conferred with a list of awards, which are as follows:-

PhonePe was recognized by the National Payments Corporation of India (NPCI) for attracting the largest number of merchant transactions on the UPI network. (2018)
Received Best Mobile Payment Product or Service Category at the IAMAI India Digital Awards 2018
Won the UPI Digital Innovation Award from NPCI (2018)
Won the SuperStartUp Asia Award (2018)
Won the Telecom and Technology category award from India Advertising Awards (2018)
Won the Best Mobile Payment Product or Service at the 9th India Digital Awards 2019 conducted by IAMAI
Received the Best Digital Wallet initiative at the 8th annual Indian Retail & eRetail Awards 2019 conducted by Zee Business and The Economic Times.
Awarded Fintech Person of the Year – India at the Global Fintech Fest 2024.

FAQs

What Sameer Nigam net worth?

Sameer Nigam has a net worth of INR. 17.7 crore (as of 2017).

What is Sameer Nigam education?

Sameer Nigam has completed a Computer Engineering degree from the University of Mumbai, an MS from the University of Arizona, and an MBA in Entrepreneurship from The Wharton School, University of Pennsylvania.

What is Sameer Nigam birth place?

Sameer Nigam was born in Delhi.

Who is the PhonePe Owner?

PhonePe is owned by Flipkart.

Who is the PhonePe founder?

Sameer Nigam is the founder and CEO of PhonePe.

What is Sameer Nigam age?

Sameer Nigam is 47 years old.

April 25, 2025

How Does Google Pay Make Money? | Google Pay Business Model
Google Pay is a digital wallet platform and online payment system developed by Google to power in-app and tap-to-pay purchases on mobile devices. Google Pay enables its users to make payments with their Android devices phones, tablets, watches, etc.

In addition, the service also supports passes such as coupons, boarding passes student ID cards, event tickets, movie tickets, public transportation tickets, store cards, and loyalty cards.

It can be used for online payments, in-app purchases, contactless in-store payments, and even for sending peer-to-peer money. So whether someone is browsing for a new pair of sneakers online or buying your morning coffee, Google Pay can do all the heavy lifting for them.

In this article, we’ll take a closer look at the Google Pay business model, how it makes money and how it has become one of the most successful digital payment solutions in the world.

Safe, simple and fast payments l Google Pay hai, tick hai

Google Pay Key Features
Google Pay Business Model
How Does Google Pay Make Money | Google Pay Revenue Model
Sources Through Which GPay Makes Money
Google Pay Net Worth
Growth of Google Pay in India
Funding Received by Google Pay

Google Pay Key Features
- Easy and Convenient Payments: Google Pay makes it easy and convenient to make payments using your mobile device. You can make payments using your phone, tablet, or smartwatch, without the need for cash or physical credit cards.
- Integration with Google Services: Google Pay is integrated with various Google services, such as Google Chrome, Google Assistant, and Google Maps, which makes it easier to make payments while using these services.
- Secure Transactions: Google Pay uses multiple layers of security to protect your payment information, including encryption, tokenization, and biometric authentication (such as fingerprint or facial recognition).
- Multiple Payment Options: Google Pay supports multiple payment options, including credit cards, debit cards, and bank accounts. You can also add loyalty cards and gift cards to your account for easy access.
- Rewards and Cashbacks: Google Pay often offers various rewards and cashback programs for using the service, such as earning rewards for making purchases or referring friends.
- Bill Payments: Google Pay allows you to pay various bills, including utility bills, credit card bills, and more, all within the app.
Google Pay Success Story | Promoting Cashless Transactions

Google Pay is a digital payments platform started by Sujith Narayanan and Sumit Gwalani. Read on to know more about Google Pay’s backstory, founders, business model, and revenue model.

StartupTalkyPurbalee Dutta

Google Pay Business Model

Google Pay has been consistently rising in India, The Alphabet and Google CEO- Sundar Pichai said that the company has taken cues from the successful experience in the country and would soon put out a revamped digital payments product globally.

Compared to the other mobile wallets Google Pay is successful in India because of its business model which includes the following factors:
- Partnership-Focused Innovation
- Localization for Success
- Ecosystem Integration
- Small Business Support
- Job Seeker Support
- Digital Payment Awareness
- Rural Outreach
- Entity-Based UX
- In-App Engagement
- Cashback Offers
Google Pay focuses on partnerships, localization, and ecosystem approach as it forged deep partnerships with the central bank and government to innovate and build collectively and make products interactive and open to working jointly within the ecosystem.

The company deepened its support for small businesses through a new app called Google Pay for Business which was a free and easy way for small merchants and storefronts to enable digital payments without the hassle of a time-consuming verification process.

Google Pay also supports job seekers by introducing a spot on Google Pay to help people find entry-level positions that aren’t always easily discoverable online.

It collaborated with the Government to come up with Digital Payment Abhiyan to increase awareness about cashless payment and online financial security in the country.

The company also launched the Vodafone Idea Phone Line to help people in rural areas where the internet connection is weak to get information about everything.

Its entity-based UX users search for who they paid earlier rather than the transaction date and time. Under the entity-based model, users see individual chat leads of every individual or merchant, they transact with, whenever they have to check a payment record.

Google Pay introduced the spot platform in India which is a way for the business to create an experience and engage their customers within the Google Pay app. Popular services like UrbanClap (now Urban Company), Goibibo, MakeMyTrip, RedBus, Eat.Fit, and Oven Story were the first to board in its early access program.

Scratch cards are another attraction as Google Pay provides lucrative cashback and offers on varying transactions. These cashbacks are directly credited to a linked bank account. The app also provides multiple payment options so users can transact through their mobile numbers and Virtual Payment addresses.

Biggest Contactless Payment Brands at POS in India as of March 2024

How Does Google Pay Make Money | Google Pay Revenue Model

Google Pay has several global revenue-making opportunities. The revenue might be both from transaction fees from banks or merchants which is $4.1 billion and also from ads and product offers within Google Pay which is $0.4 billion.

Google Payment India Private Limited reported its revenues for the financial year 2020-21 as ₹14.8 crore. The company further reported a net profit of ₹1.4 crore during the same fiscal.

Google Pay was first launched in August 2017. Google first named this app “Tej” and later changed the name to “Google Pay“.

Google Pay does not charge its users for accessing Google Wallet. Receiving and sending money on Google Pay is free. Previously, the company had an agenda of adding a 2.9% fee to funds via debit card. However, now the plan is dropped and it’s all free as mentioned above.

The app has over 67 million monthly active users and enabled more than 2.5 billion transactions and now has an annual run rate of over US$110 billion in transaction value. This app user can now pay at more than 200,000 stores in more than 3,500 cities and towns, and more than 2,700 online merchants.

PhonePe Success Story: India’s Leading Payments App | Revenue Model | Business Model | Valuation |

PhonePe is an Indian digital payment and financial services company. Explore PhonePe’s business model, revenue, history, founders, funding, valuation, growth, and more.

StartupTalkyPurbalee Dutta

Sources Through Which GPay Makes Money

Google Pay earns money through the following sources:
- Mobile Recharges: The basic revenue model of Google Pay is mobile recharges. Whenever a user recharges on any SIM operators from this app, then they get a commission from that operator on every recharge.
- Bill Payments: Google Pay allows you to pay for any kind of bill from this app such as electricity, DTH recharge, water, insurance, loan repayment, postpaid bills, and so on. Whenever you pay any company bill, it takes a commission from that company.
- UPI Transaction: So this app does not earn from UPI transactions, it just analyzes your transaction data, which it uses to make its new product. The main reason most people use Google Pay is for UPI payments. The app also provides more services such as mobile recharge, and bill payment. So when people have to use either or both of these services, they use this app and this app earns from both the services.
- Ad Revenue: Google Pay uses its large user base and transaction data to offer targeted ads, generating revenue through in-app promotions and merchant-sponsored offers. Ads are personalized based on user behavior and spending patterns, appearing within the app or across Google platforms. Merchants also pay to feature special offers, driving traffic to their sites or apps.
- Partnerships: Google Pay earns revenue through partnerships, ads, transaction fees, and in-app purchases. It teams up with banks, e-commerce platforms, and payment providers, often sharing revenue from transactions like virtual card payments.
Google Pay Net Worth

The company’s net worth stood at ₹12.8 crore for FY21 compared to ₹10 crore at the same time the previous year.

Growth of Google Pay in India

Google mobile payment system Google Pay has emerged as the king of UPI payments in India, with an annualized transaction value worth $110 billion. Google Pay has 150 million users worldwide, with 67 million users in India. Millennials are 30% of active users of Google Pay.

According to a report by GlobalData, the value of mobile wallet payments in India experienced a compound annual growth rate (CAGR) of 72.1% from 2019 to 2023, reaching INR 202.8 trillion ($2.5 trillion) in 2023. Mobile wallet payments in India are projected to exceed INR 531.8 trillion by 2028.

In India, Google Pay holds a 35% market share in UPI payments. The app resembles a chat app that is easy to use and is available in local languages.

The platform is used by customers to buy train tickets, pay bills, and even purchase lunchtime meals from street vendors. In India, local stores have begun to accept Google Pay payments via a phone application. Meanwhile, the Google Pay platform’s update includes features like tokenized cards for more secure payments, food security, Google Pay for business, e-KYC, and simpler onboarding and donations.

In India, Google Pay is facing stiff competition from other fintech startups including wallets such as Paytm, PhonePe, Amazon Pay, Airtel Payments Bank, etc. The upcoming contender in the race is the Whatsapp Pay service by Facebook.

Funding Received by Google Pay

Founders of Google Pay in India raised $13.2 million in January 2020 in a Seed funding round for its neobank, Fi led by Sequoia India and Ribbit Capital. Also participating in the funding rounds were David Velez, Kunal Shah, and VC fund Hillhouse Capital.

In October 2020 the investment app, ETMONEY, had partnered with Google to offer Google Pay users a route to invest in mutual fund schemes and the National Pension System (NPS).

This collaboration will allow Google Pay users to identify the right mutual fund schemes and invest in them within minutes using their Google account and Unified Payments Interface (UPI) ID.

Google Pay users will not have to create a user ID to access this facility. It will be the same if one wants to invest in NPS as well. Sujith Narayanan and Sumit Gwalani, both co-founders of Google Pay India formerly called Google Tez said that the seed funding brings the Neobank startup Fi to a valuation of roughly $50 million.

FAQs

What is GPay?

Google Pay is a fast and simple way to pay using credit or debit cards saved to your Google account. It works for online purchases, in-app transactions, and in-store payments with your Android device.

What is the revenue of Google Pay in India?

Google Pay revenue in India was INR 1467 crore in 2021.

How many people use Google Pay worldwide?

Google Pay has 150 million users worldwide.

How does Google Pay make money in India?

Google Pay makes money through commissions it gets for transactions from companies or operators. For every transaction that you make using Google Pay, it gets a commission from the company.

Who are the competitors of Google Pay in India?

The top competitors of Google Pay in India are:
- PhonePe
- Paytm
- PayPal
- Amazon Pay
- Whatsapp Pay
Is Google Pay profitable?

Google Pay is likely profitable for Google, though its standalone earnings are not publicly disclosed.

What is GPay business model?

Google Pay business model earns revenue through transaction fees, targeted ads, partnerships with banks and merchants, and in-app promotions.
April 17, 2025
Will UPI Become a Paid Service?
The National Payments Corporation of India was formed in 2008 with the objective of integrating all payment mechanisms existing in the country and making them uniform for retail payments. However, the majority of the population was opting for cash payments as retailers encouraged this method. There was also the problem of almost half the population that had no access to any form of banking service. This also precipitated the issue of black or illegal money and corruption within the country.

By 2012, the RBI had envisioned building an authorized payment and settlement system that was safe, efficient, accessible, inclusive, and interoperable. This was done as a part of the Green Initiative and to encourage the lesser use of paper in the domestic payment market. UPI was officially launched in 2016 for public use.

An Overview of the Unified Payments Interface
The Growth of UPI and Its Features
Will UPI Become a Paid Service?

How UPI Has Changed the Indian Economy?

An Overview of the Unified Payments Interface

The CEO of Netmagic Solutions says UPI has become one of the most successful deep-tech innovations coming out of India. It works on an interoperable four-pillar push-pull model. There is a beneficiary at the front end, the payment service provider, and a beneficiary back end bank that settles the monetary transaction for the users.

As it began to gain traction and prominence in 2019, the Ministry of Finance nullified the Merchant Discount Rate (MDR) on UPI which catapulted the number of low-value transactions, making huge gains on real-time transaction volume data.

From 1st January 2019, UPI became a popular payment option for IPOs. By March 2020, the transaction limit was increased from INR 1 lakh to INR 2 lakhs, which was again increased to INR 5 lakhs in December 2021 for Retail Direct Scheme and IPO applications.

In its first monetary policy of FY 2022-2023, RBI has proposed using a UPI-based QR code for a cardless cash withdrawal facility from ATMs. ToneTag launched VoiceSE, in partnership with NSDL Payments Bank and NPCI, which will enable users to make UPI payments using voice in Hindi, Tamil, Telugu, Malayalam, Kannada and Bengali language. In 2021, the value of UPI transactions was more than INR 73 lakh crores, recording a 110% rise from INR 33.87 lakh crores in 2020.

An In-depth Look at the UPI App War: Who is leading the UPI Market?

The cashless UPI payments have seen a massive boost during the covid and have started a war between the apps, but who is leading the market?.

StartupTalkyHarshit Verma

The Growth of UPI and Its Features

The Volume of UPI-Based Digital Payments Across India from FY17 to FY22

Within two years of its launch, by 16th August 2018, UPI 2.0 was launched enabling their users to link Overdraft accounts to a UPI handle. There was an added feature of the AutoPay facility for recurring payments, and users were able to pre-authorize transactions by issuing a mandate for a specific merchant. The newer version also included a feature to view and store the invoice for transactions.

By August 2021, Bank of Baroda, Paytm Payments Bank and State Bank of India were live on UPI AutoPay and registered 204,000, 186,000 and 660,000 mandates respectively. Plans were in place for NCPI to expand AutoPay to international markets and operationalize real-time payment dispute resolution covering 90% of complaints by September 2022.

RuPay credit cards were allowed to be linked with UPI from 8th June 2022. Currently, NPCI is working on a real-time feature that will reduce the time period taken by banks to unblock funds over time-out or transaction from 24 hours to 30 seconds.

Continuing the growth of UPI and its features, the RBI Governor launched UPI 123PAY on 8th March 2022, offering 4 payment options to UPI users:
1. App-based functionality where a mobile phone manufacturer can install a UPI app through over-the-programming that can be used for payment.
2. Missed calls through which customers can use a dedicated merchant payment number by giving a missed call. The incoming authentication call will ask for PIN verification to complete the transaction.
3. Interactive Voice Response (IVR) based where the payment transaction will complete using pre-defined phone numbers.
4. Payment in offline mode through sound-based proximity data communication.
On 17th November 2021, NPCI International Payments Limited signed an MoU with PPRO Financial, a UK-based financial services firm, to expand the acceptance of UPI into foreign markets, specifically in China and the US, which accounts for half of all transactions from India.

Onboarding of NRI/NRE Accounts

Earlier this month, the National Payments Corporation of India (NPCI) released a notice stating that Non-resident accounts like NRI/NRE accounts attached to international mobile numbers will be permitted to transact with UPI. To begin with, mobile numbers of ten countries will be enabled. These countries are Singapore, Australia, Canada, Hongkong, Oman, Qatar, United States of America, Saudi Arabia, United Arab Emirates and United Kingdom.

The NPCI, in its notice, has clarified that these accounts will be permitted to transact as long as the member banks ensure strict adherence to FEMA (Foreign Exchange Management Act) regulations and the guidelines issued by the RBI (Reserve Bank of India). All the UPI members including banks and payment platforms have been instructed by the NPCI to ensure that they are completely compliant to all the legalities by April 30, 2023.

Lauding this move, Rajsri Regan, Head of Development – Banking and Payments, India & Philippines, FIS said – “NPCI has been working to expand and boost the use of UPI across the world and this move will widen the use of digital payments as Indians living overseas will also be able to make instant transactions.” This facility will soon be extended to mobile numbers of other countries as well.

Will UPI Become a Paid Service?

The Ministry of Finance’s Tweet About UPI Services

The government had made transactions over UPI free of cost to encourage faster and deeper penetration of digital payments post demonetisation and especially, the pandemic. This is the government’s zero MDR (Merchant Discount Rate) framework in which neither the customers nor the merchants pay for utilizing UPI services.

However, in a discussion paper that RBI released in early August 2022, it said that as a fund transfer system bears a resemblance to the IMPS (Immediate Payment Service), the charges in UPI need to be similar to the charges that are applicable in IMPS for fund transfer transactions.

Furthermore, UPI service providers like PhonePe, Google Pay and Paytm Payments Bank have not earned any revenue for the last couple of years for their services. Industry executives are debating that with the setup and adoption of a robust digital payment infrastructure the time has come for them to earn revenue from these transactions so that more players are enticed to enter the UPI service space to build further financial inclusion.

The Finance Ministry has stepped in very recently and has tweeted – “UPI is a digital public good with immense convenience for the public and productivity gains for the economy. There is no consideration in Govt to levy any charges for UPI services. The concerns of the service providers for cost recovery have to be met through other means.”

UPI payment platforms like Google Pay and Paytm have amassed millions of active users and have a deep data mine to access to fine-tune their products. Also, they have other avenues for revenue building. The payment platforms earn a commission from the service provider whenever there is a bill payment for utilities like electricity and water as well as mobile recharges and DTH recharge payments. To these payment platforms data substitutes for revenue to a certain extent.

In the immediate future, it remains unlikely that UPI will become a paid service.

Conclusion

The penetration and adoption of UPI continues to grow as the service itself seeks to grow and expand to include more and more features. While the future is bright for the UPI platform, it will be a wait-and-watch game to see whether the service in the future might attract charges or not.

FAQs

What is UPI?

UPI stands for Unified Payments System. It is a system developed by the National Payments Corporation of India that supports multiple bank accounts in a single mobile application. It facilitates inter-bank, peer-to-peer, and person-to-merchant transactions.

Will UPI become a paid service?

There has been suspicion among the people that there may be the possibility of UPI transactions carrying a service charge. However, to clear people’s suspicion, the Finance Ministry recently made a tweet saying that there is no consideration in Govt to levy any charges for UPI services.

Which are the most popular UPI apps?

Some of the most popular UPI apps are:
- Google Pay
- BHIM
- Paytm
- PhonePe
- Amazon Pay
January 31, 2023

muvin: India’s Teen-centric Pocket Money App

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 muvin.

Neobanking services are revolutionising both the financial and Fintech sectors in India. Fintech ecosystem is gearing towards better usage of Artificial Intelligence and improving customer satisfaction with popular neobanks in India like- RazorPayX, Jupiter, and Kotak811, to name a few. muvin is an emerging startup that enables a seamless experience for teens which includes pocket money management, financial literacy, and understanding savings from a young age, amongst others. It is a pocket-money app that encourages children to learn to manage finances.

Read the startup story of muvin and know about its founders, business model, challenges, and growth.

muvin – Company Highlights

Startup Name	muvin
Headquarters	Bengaluru
Industry	Fintech
Founder	Mukund Rao and Vineet Gupta
Founded	2020
Total Funding Raised	$4.5 Million
Website	muvin.in

muvin – About
muvin – Industry
muvin – Founders and Team
muvin – Startup Story
muvin – Name, Tagline, and Logo
muvin – Vision
muvin – Products
muvin – USP
muvin – Business and Revenue Model
muvin – Customer Acquisition
muvin – Customer Retention Strategy
muvin – Challenges Faced
muvin – Funding
muvin – Growth

muvin – About

As India’s teen-centric pocket money app, muvin, offers a safe & secure platform to conduct online & offline transactions in an effortless manner- through its wallet, physical prepaid card and industry’s first RuPay powered contactless keychain.

While parents/guardians can create an account to enable their dependents/children with an independent wallet, muvin also empowers India’s college going students to set up their own wallets to conduct transactions.

As part of their focus on amplifying financial literacy amongst India’s teens, the muvin app offers an exhaustive library of enriching content to demystify concepts related to managing finance. They have onboarded Monika Halan, an entrusted Author and Speaker to curate and address theme-based topics in an easy, fun, and simplified manner. From taxes to what banking truly is, muvin is covering the fundamentals and more via rich byte-sized video and short blogs that are relevant for teens.

muvin – Industry

With new players entering this space, teen-centric pocket money apps and neobanks have become a competitive digital banking landscape in a short period of time. The space has grown exponentially in the last five years. In terms of transaction value, the Indian Neobanking ecosystem is expected to clock US$47.94bn in 2022 setting the foundation for substantial growth potential in the coming years.

muvin – Founders and Team

Mukund and Vineet have known each other for over 20 years from their time at Mindtree in the early 2000’s. They share a passion for enabling access to banking services for the youth and believe that finance is a life skill that everyone should acquire by the age of 21.

Mukund Rao, Co-founder

Mukund is an accomplished business leader with experience across financial services and technology. Former Capital Markets Head at Mindtree, Mukund founded derivIT in 2007 and grew it across 7 countries with a team of 400+ employees. He subsequently exited derivIT to Luxoft in 2017.

After graduating from Bangalore University, he pursued his MBA from Ecole des Ponts Business School.

Vineet Gupta, Co-founder

Vineet has over 25 years of experience spread across technology and financial businesses, driving innovation and digital business models. Vineet moved on from Mindtree in 2015 after building out their Digital Business and subsequently founded a tech enabled NBFC focussed on business credit.

He graduated from IIT-Delhi and went on to pursue his MBA from IIM-Lucknow.

While both co-founders are actively engaged in all aspects of the business, Vineet looks after the Product, Operations, Finance & Technology functions at muvin, while Mukund looks after Marketing, Strategy and Business Development functions.

muvin – Startup Story

Despite India’s adoption of digital banking and contactless payments, the digital native generation still conducts over 80% of their transactions in cash. Both the co-founders, Mukund and Vineet, have teenage children who were using cash or their cards while spending money. They found the process of opening bank accounts for their kids and teaching them how to operate it within the restrictions on bank ATM/debit cards, rather cumbersome. The most common resort for parents like them was to hand over pocket money to their children. No wonder, teens often end up entering adulthood with little or no knowledge of financial management.

They saw an opportunity in enabling digital payments and offering financial products for this young consumer base- in an easy-to-understand, intuitive and friction-free manner. This is how muvin came into being.

They validated the hypothesis by empanelling Ipsos to conduct independent primary research of children and parents across 8 cities.

muvin – Name, Tagline, and Logo

muvin logo

muvin is a play on the word “moving”, where they would like their target audience to get moving and keep moving. The co-founders of muvin believe that Gen-Z is always on the go and they would like teens to get moving with their financial lives as soon as possible. The tagline, “payments for students”, addresses their audience and the core functionality of muvin, thereby avoiding any ambiguity.

muvin – Vision

muvin’s vision is to empower India’s 250 million youth with digital financial inclusion and financial literacy. muvin is unwaveringly moving forward in positioning the management of personal finance as an essential life skill and the need to inculcate it from an early age. muvin believes that India’s teens must be empowered to experience independence in their financial transactions and decisions in their day-to-day life.

muvin – Products

Bolstered by the pandemic, there has been widespread adoption of digital banking and contactless payments across the country which led to a permanent shift towards wallets, contactless cards, digital payment apps and other financial products. However, over 250 million teenagers and young adults in India are still precluded from not just financial education but banking services as well, conducting the majority of their transactions in cash. Gen Z are becoming financially aware and independent a lot earlier than a few decades ago. Pocket money apps for the teens are ideal in addressing their financial needs.

Deployment of new-age technologies like AI, big-data analysis and cloud computing is helping it to offer an easy-to-understand, intuitive, friction-free and education-powered experience to the teens.

muvin has partnered with the parent community towards its larger vision of amplifying financial literacy amongst India’s digitally savvy teens. It has also understood some other critical issues that matter to parents, such as tracking of their household expenditure.

Parents now have the freedom to transfer pocket money allowance (one time /scheduled weekly / monthly) directly in their child’s wallet who can then spend the money through the app or through their own prepaid card. Parents no longer have to stress over tedious banking roadblocks. Monitoring their child’s spending habits was never this easy.

muvin – USP

These are early days for teen-centric apps and they are in the first lap of a marathon. It is a new category and competition helps in both, creating and growing awareness about the product’s relevance and need amongst the key target user base. All the market players are addressing varied gap areas through their products, services and customer experience.

muvin is the first pocket money app to offer a RuPay co-branded keychain targeted at India’s teens. The keychain presents the most convenient and secured contactless payment mode with a simple ‘tap and pay on-the-go’ feature. The contactless keychain can be used across all RuPay NFC enabled merchants for fast processing and seamless transaction experience each time.

muvin also offers chat based banking on their website and whatsapp without the need of downloading the app. This allows customers to check their balance, view recent transactions, block their card etc.

muvin – Business and Revenue Model

There are no charges levied on customers for using the muvin services. muvin makes money from the interchange fees incurred by the merchant for card based transactions. Within the first six months of its product launch, muvin witnessed over 150,000 installs. Currently, the figures stand at approximately 50k app downloads every month.

muvin – Customer Acquisition

muvin’s journey started with the launch of its app and the ‘muvin card’ for teens in October 2021. In the same month, muvin onboarded Ace cricketer Hardik Pandya as their brand ambassador to propel its multi-channel marketing campaigns- a move which helped the brand to garner immediate attention and much-needed impetus from its target customers.

Teens need validation and approval from their parents/guardians and since its inception, muvin is consistently engaging with the parent community. Parents need to be assured on the trust front. muvin’s partnership with industry prominent players like RuPay has also helped it to strike a trust-worthy chord with the parents. Imparting financial responsibility as a trait has to be a consistent and an on-going approach. Parents are appreciating the educative, short videos and blog format content for their children which muvin offers on its digital platform. The early adopters of the muvin app have played an important role in expanding its reach amongst newer adopters.

muvin has adopted a multi-pronged approach in reaching out to potential customers. Developing a strong presence on social media has been key to building the muvin brand, as this is where Gen-Z spends a high percentage of their time. muvin is building itself out to be a young brand that teenagers can approach as an elder sibling or friend. They have also curated financial content in byte sized formats that is easy to understand and comprehend in under a minute. They have also partnered with multiple brands to serve their customers with offers and cashbacks relevant to their age group.

muvin – Customer Retention Strategy

To drive retention, muvin has partnered with multiple brands to serve their customers with offers and cashbacks relevant to their age group. They also run engaging contests and offers on the app which are refreshed on a weekly basis to keep their customers and audience engaged consistently. Through their insights led customer engagement platform and social media channels, they keep their users updated on the latest happenings on the app.

muvin – Challenges Faced

Neobanks and teen-centric pocket money apps like muvin have carved a niche category to address crucial consumer pain points which had not been addressed before. They have consistently channelised their energies to get their key consumer audience to shift from cash to digital transactions- which still continues to be a challenging affair.

Players like muvin get to interact with their customers digitally only which makes trust building especially amongst digital-savvy parents, a tedious and slower process. This requires utmost transparency and in this regard, muvin’s partnership with RuPay has helped them tremendously.

muvin – Funding

Date	Stage	Amount	Investors
January 2022	Pre-Series A	$3 Mn	Alteria Capital and Krishna Bhupal, Co-Founder, Rational Pricing Technologies and board member of GVK Power & Infra
April 2021	Seed	$1.5 Mn	HNI’s Krishnakumar Natarajan (Managing Partner, Mela Ventures), Ambar Maheshwari (CEO, IndiaBulls Asset Management), Gani Subramaniam (Partner, WRVI), Shajikumar Devakar (Executive Director, IIFL Asset Management Limited), Sandeep Jethwani, and others

Earlier in January 2022, muvin raised USD 3 million in a pre-Series A round which was led by WaterBridge Ventures, with participation from India’s largest Venture Debt fund Alteria Capital and Krishna Bhupal, Co-Founder, Rational Pricing Technologies and board member of GVK Power & Infra.

Prior to that in April 2021, muvin raised a seed round of $1.5+ million from HNI’s Krishnakumar Natarajan (Managing Partner, Mela Ventures), Ambar Maheshwari (CEO, IndiaBulls Asset Management), Gani Subramaniam (Partner, WRVI), Shajikumar Devakar (Executive Director, IIFL Asset Management Limited), Sandeep Jethwani, and other prolific angel investors from the financial services industry.

muvin – Growth

muvin’s platform caters to India’s teens spread across leading cities in India. The brand is gearing towards engaging with one million registered users in the next 12 months. Its ambition is to enable 100 million financially literate students in the next 10 years- prepare them to confidently make the right financial choices by the age of 25 years.

With regular communication and feedback from their early adopters, muvin team plans to steadily enhance its product and introduce new features over the next two-three quarters that will substantially upgrade their users’ experience. To achieve additional scale, muvin is open to raising an additional round of funding towards the later half of this year.

FAQs

When was muvin founded?

muvin was founded in 2020.

Who is the founder of muvin?

Mukund Rao and Vineet Gupta are the founders of muvin.

Has muvin raised funding?

Yes, muvin has raised a funding of $4.5 million.

Is muvin app available on Google Play store?

Yes, muvin app is available on the Google play store and Apple app store.

Who is the brand ambassador of muvin?

Hardik Pandya is the brand ambassador of muvin.

July 8, 2022

The Curious Case of Bharat “PE” – Bharatpe vs Phonepe Case Study

BharatPe and PhonePe which are two digital payment applications in India have been fighting in the Delhi High Court regarding trademark rights on their name. It is said that the companies have been fighting among themselves since the year 2018. Let’s look at the complete case study of BharatPe and PhonePe.

BharatPe Vs PhonePe Case
Case filed by PhonePe against BharatPe
Court’s Decision on the Bharatpe vs Phonepe Case
About PhonePe and BharatPe

BharatPe Vs PhonePe Case

The two major digital payment applications have been said to have fighting over the usage of the suffix Pe in their names and the company PhonePe has been claiming trademark rights over it. It is observed that both the companies have been arguing about the topic since the year 2018 and later the Bengaluru based startup PhonePe moved to the court.

The two leading Digital payment applications have been fighting in the court for a very long time. The documents seen have conveyed that the Flipkart owned PhonePe has sought an authoritative order from the High Court against BharatPe for the usage of the word Pe in the name.

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Case filed by PhonePe against BharatPe

It is said that the court did not grant an injection on the original appeal of PhonePe. The suit that had been complained about was based on seeking an authoritative order restraining the use of trademark, passing off, damages, etc. The company PhonePe has filed a suit on BharatPe for using the suffix Pe in both the languages English as well as Hindi and also both in graphic design as well as text.

PhonePe has been said to have sent a legal notice to BharatPe last year and the company had soon changed the logo and the colour of their original frame but that did not solve the issue and PhonePe had taken the case to the court.

BharatPe old vs new logo

A PhonePe spokesperson had conveyed that the company had approached the Delhi high court in order to protect their brand trademarks which they believe were being broken against the agreement of the law and added that the company was not interested to comment beyond this whereas BharatPe had declined to comment about the issue.

Sameer Nigam Biography – Founder & CEO of PhonePe | Education | Personal Life

Sameer Nigam is an Indian Entrepreneur who founded PhonePe[https://startuptalky.com/phonepe-success-story/], a UPI-based online payment system in 2015 and serves as its Chief Executive Officer (CEO). He also served as the Senior Vice President, Engineering at Flipkart[https://startuptalky.com/flipkart-success-story/…

StartupTalkyMegha Rani

Court’s Decision on the Bharatpe vs Phonepe Case

The Justice had conveyed that the usage of the word Pe in both the company’s names was nothing but a different spelling used to denote the word pay and added that no rights can be claimed over a mark which describes a word or even a word which is used to describe a part by misspelling it.

The court also added that the word Pe had not derived any other meaning other than pay. That is the company has not created a different impression on the minds of people like giving the word Pe a secondary meaning which refers to the goods or service provided by the company.

However, the Justice had conveyed that if the word Pe has acquired a secondary meaning then the court would look for a trial and the company will have to prove to the court that the word has a secondary meaning and the primary meaning i.e., pay should have been completely removed from the minds of their consumers. In order to move forward with this, the company will have to create evidence from their customers that the word has a complete secondary meaning which is related to the goods or service they provide.

The Court had said that considering the above factors both PhonePe and BharatPe are made up of several parts and added that these parts cannot be separated as Phone and Pe and Bharat and Pe. The court conveyed that the company PhonePe cannot claim rights over the word Pe.

The court added that the word Pe provides the meaning of the service provided by both the companies that is pay and said that by misspelling Pay and Pe there cannot be any claim on the legal positions.

About PhonePe and BharatPe

PhonePe Logo

PhonePe and BharatPe are both companies that provide digital payment services where as BharatPe provides their services only for the merchants and concentrates completely on that sector but PhonePe provides for both merchants as well as individual consumers as anyone who downloads the app can use PhonePe’s service.

BharatPe Logo

PhonePe has been increasingly expanding towards the merchant payments sector and BharatPe can be considered to be one of its major competitors in the field. PhonePe is considered to have a valuation of around USD 7 billion according to Morgan Stanley and BharatPe has been the fastest growing merchant payment company.

BharatPe has conveyed that they have around 1.5 million merchants on their platform with a daily transaction of around INR 7 lakhs and PhonePe for business has around 4.2 million merchants using it actively. Both the companies are considered to be expanding aggressively on-boarding offline merchants.

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Conclusion

BharatPe is a billion-dollar company with a valuation of close to USD 1 billion whereas PhonePe is already in the billion-dollar club. It is considered to be the first instance where 500 crores + companies involving into a fight against the trademark.

FAQ

Who is the founder of BharatPe?

Ashneer Grover and Sashvat Nakrani are the founders of BharatPe.

Is BharatPe Government company?

BharatPe is a private company founded in 2018.

Is PhonePe an Indian company?

PhonePe is an Indian digital payments and financial services company headquartered in Bangalore, India. It was founded in December 2015, by Sameer Nigam, Rahul Chari and Burzin Engineer.

Is BharatPe and PhonePe same?

No, BharatPe and PhonePe are different companies. They both offer digital payment services.

Who is the owner of PhonePe?

PhonePe is owned by Flipkart.

April 1, 2022

Tag: Online Payment Apps

Top 12 Best Online Payment Gateways in India 2025

Razorpay

Razorpay Features

Instamojo

Instamojo Features

Paytm

Paytm Features

CCAvenue

CCAvenue Features

Payflow

Payflow Features

Cashfree

Cashfree Features

BillDesk

BillDesk Features

Atom

Atom Features

HDFC

HDFC Features

PayKun

PayKun Features

PayU

PayU Features

Mobikwik

Mobikwik Features:

Conclusion

FAQs

What is a Payment Gateway?

Where payment gateways are used?

What are some top 5 Payment Gateways?

Which is better, Paytm or PayPal?

Who regulates payment gateways in India?

Which is the cheapest payment gateway in India?

Is UPI available only in India?

Which is better, Razorpay vs Billdesk?

Which is better, HDFC Payment Gateway vs Razorpay?

Which is the best payment gateway for startups in India?

Which are the payment gateway for website in India?

Which is the best payment gateway for online business?

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

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

Paytm

Google Pay

BHIM Axis Pay

PhonePe

Mobikwik

Yono (SBI)

Citi MasterPass

ICICI Pockets

HDFC PayZapp

Amazon Pay

Samsung Pay

Apple Pay

WhatsApp Pay

Freecharge

Airtel Money

Advantages Of Mobile Wallets

1. One-Click Pay

2. Multiple Features and Uses

3. Robust Security Features

4. Several Benefits

Mobile Wallet vs Digital Wallet

Limitations Of Mobile Wallets In India

FAQs

What is a digital wallet and how does it work?

What is a digital wallet used for?

Which is better PhonePe or Google pay or Paytm?

How to get PhonePe cashback?

Which Mobile wallet has highest market share in India?

What is the difference between Paytm vs PhonePe?

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

MobiKwik Co-Founder Upasana Taku Success Story: India’s First Female Fintech Leader

Upasana Taku – Biography

Upasana Taku – Early Life and Education

Upasana Taku – Career