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Tech Update : Secure eWallets needed for a Cashless Economy

Updated on December 19, 2016

The entire De-Monetisation exercise has been quite an overwhelming journey for people. Obvious reasons are long queues at Banks, ATMs for withdrawing cash and facing an equally chaotic situation to pay utility bills without the lack of it. While decent section of the society is managing with plastic money, the not so updated section is facing the heat. That’s because Credit Cards are out of their income range and many are unaware of Debit card usage with a chunk not even having a bank account to start with. So, the only alternative left is to go digital with eWallets, given the impressive statistics of smartphone users India currently boasts of.


The question now arises of safety, and to our rescue, many reliable, as well as efficient eWallet providers, are already in place. They are easy to download apps and are available in both IOS and Android platforms.

PayTM – If anybody has benefitted by the demonetization announcement that’s PayTM. It has seen a surge in the number of customers suddenly and why not when it suffices every need. It meets 360 degrees requirement of a buyer by providing services like sending/receiving payment by a scanning a QR code followed by OTP verification, utility bill payments, online recharges, convenience of adding money to the wallet using multiple card options, exploring places that accept PayTM payments, booking travel tickets with cashback offers, train food delivery and shopping online. With such excellent service that they offer even vegetable vendors, these days are going thePayTMway.

Freecharge – Ideal for recharges, bill payments and discount coupons, Freecharge never disappoints you with the greatest offers in the above domain. The best recharge and top-up offers for any network performed in less than 10 seconds along with cashback and goodies are always a part of their deal. They’ve even come up with Data Lifeline for instant data pack recharges, anytime anywhere. Other perks of using Freecharge wallet include renewing metro cards, utility payments, exclusive offers from your favorite eateries and shopping partners. Adding money to the wallet is one thing they need to work on.

Oxigen Wallet – With features like sending money to a mobile number or bank, paying utility bills, mobile and shopping bills, gifting money, receiving money from friends, shopping online, virtual – prepaid VISA card (its unique offering that enables you to pay with a VISA logo) and travel, Oxigen wallet is as reliable as its counterparts. Enabling easy money addition to the wallet functionality and making the app more user-friendly can further popularize it.

PayUMoney – This eWallet specializes in bringing you offers most relevant to your mobile, DTH, data card recharge history along with utility bill payments like Gas, Electricity, and Water. The wallet has collaboration with top banks hence security is not a concern. Bill reminders and repeated favorite purchases offered with additional benefits is a unique feature of PayUMoney.

Citrus Wallet – For adding, sending and receiving money with a smartphone, there is no better eWallet than Citrus. It partners with major banks to perform its transactions and has an elaborate process to feed in your payment information with secure connectivity. Acting on user requests, it is now working on expanding its wallet transaction limit to 20K a month.

Telecom eWallets – eWallets from Airtel, Jio, and Vodafone (m-pesa) are also great methods to pay your mobile, DTH and network specific bills. Well, this might help people using a particular service, but security can be rest assured.

Ola Money – Ola service users will benefit with this wallet as some appealing offers do keep coming along with long rides. Moreover, travel is a crucial part of our daily lives and if we can get rid of cash hassles on the go then why not?

All the above eWallets are secure, and they’re there to make your life easier. Change initiation is always tedious but when that’s a convenient and only option to go cashless, resisting makes no sense.


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    • AshutoshJoshi06 profile image

      Ashutosh Joshi 12 months ago from New Delhi, India

      Well! I gotta say atleast someone is making money. These wallets have all improved their interface, hope they are working on security bit too. Paytm getting duped by its own employees is last thing we need at this time :) but yeah more importantly I think we need a stronger cyber security mechanism for the country as a whole as well laws safeguarding the public interest. Right now we lack both.