7 Most Used Digital Payment Apps in India (2024)

FAQs

Which payment app is highest used in India? ›

As of 2021, Paytm has the largest user base with over 350 million registered users, followed by PhonePe with over 280 million users. Google Pay and Amazon Pay have approximately 100 million users each, while BHIM UPI has around 70 million users.

UPI continues to be the king of digital payments in India. The report highlights a remarkable 56% year-on-year growth in UPI transactions between July and December 2023. The total volume surged to a staggering 65.7 billion transactions, compared to 42.1 billion in the same period last year.

In recent years, India has become a major player in the digital payment space, outpacing its allies and rivals. In 2022, 46 per cent of real-time global digital transactions took place in India, and the nation has become the second-largest digital market in the world, closing in on China in first place.

1. Google Pay. Google Pay is at the top of the list among the best UPI apps in India. The transactions on Google Pay are really quick.

The India payment gateways market has several major players, including Cashfree Payments India Private Limited, Easebuzz Private Limited, Fiserv India Pvt Ltd (Fiserv Inc.), IndiaIdeas.com Limited (BillDesk), Infibeam Avenues Limited (IAL), Ingenico International India Pvt Ltd., Instamojo Research and Development ...

Cash, credit card, debit card, cheques, UPI etc. are various payment methods that are common in India. Let's look at an almost exhaustive list of payment methods you can use in India.

Oxigen wallet is the first-ever e-wallet in India, launched in July 2004. In 2006, the media firm Times Group, in association with YES Bank, introduced Wallet365.com. But, the use of digital wallets picked up pace after the launch of Mobikwik in 2009.

National Payments Corporation of India (NPCI), an umbrella organisation for operating retail payments and settlement systems in India, is an initiative of Reserve Bank of India (RBI) and Indian Banks' Association (IBA) under the provisions of the Payment and Settlement Systems Act, 2007, for creating a robust Payment & ...

How many digital payments are there in India? ›

In financial year 2024, almost 164 billion digital payments were recorded across India. This was a significant increase compared to the previous three years.

India is number one in digital payments and that it's transforming the country's rural economy, PM Modi had said earlier this year. "India is number one in digital payments. India is one of the countries where mobile data is the cheapest. Today, the country's rural economy is transforming," the PM had said.

Both Paytm and PhonePe ranked as popular digital payment methods in India in 2020 and were more commonly used than credit or debit cards for online shopping.