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Top 10 Best Payment Apps for Money Transfer and Digital Wallets 2022

People are gradually shifting to digital payment options as the payment scenario and purchasing behaviours evolve. Digital wallets have made transactions very easy and fast, whether it’s supermarket shopping, a short lunch at a restaurant or an urgent buy at the pharmacy shop. You won’t even have to touch the machine to swipe a card, which is actually a good thing because it limits physical contact and the possibility of Covid 19 spreading.

Following are the top 10 best payment apps for money transfer and digital wallets in 2022.

Google Pay

Despite entering the market late, Google has raised up the ranks to become one of the most extensively used apps in a short period of time. You can rely on Google Pay for anything from paying cell bills to investing in stocks and mutual funds because it is one of India’s most popular payment apps!


PhonePe, which is trusted by over 30 million Indians, is destined to appear on any list of payment apps, and this one is no exception! Despite competing with giants like Google Pay, Amazon Pay, and Paytm, PhonePe has garnered a large number of users in a short period of time thanks to its simple installation and setup process. While signing up and creating an account on PhonePe is simple, transferring money is more difficult because the app performs all of the necessary checks and security procedures to ensure the user’s identity is verified.

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Paytm is without a doubt one of the best money transfer apps available, servicing over 20 million shops and enterprises while guaranteeing that more and more people can participate in the mainstream economy and become financially self-sufficient. Paytm was the pioneer of India’s digital revolution and can now assist you with virtually every transaction.

Amazon Pay

Amazon Pay is one of the top payment apps in India, and it’s available on both the Google Play Store and the Apple App Store. It focuses on giving you with an in-built facility for paying for the products you buy, making the entire payment procedure simple and quick.

Yono by SBI

If you’re apprehensive to use payment applications, this one from the State Bank of India (SBI) could be a decent place to start. SBI has been a part of the financial and banking sector for decades and is trusted by millions of Indians. SBI’s YONO (You Only Need One) banking app lets you do a lot more than just check your balance and transfer money.

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This app allows you to deposit money, purchase insurance, invest in stocks or mutual funds, book tickets, and make payments at millions of locations across the country! YONO accepts payments by UPI, QR codes, mobile numbers, and bank account numbers.


MobiKwik was founded in 2009 by Bipin Preet Singh and Upasana Taku as a mobile wallet that allowed users to easily make digital payments. With the digitalization of the financial system, it has now risen to become one of India’s most popular payment apps and the country’s leading Buy Now Pay Later fintech. It enables users to make payments online and focuses on meeting this emerging country’s unmet credit needs.


Almost all digital payment apps now accept UPI, therefore BHIM cannot be overlooked when it comes to evaluating the best of the bunch. If you’re concerned about setting up an account on BHIM, don’t be; all you need is a bank account, a debit card, and a registered cellphone number to get started! Friends, relatives, retailers, and e-commerce websites are all included in the list of persons or businesses to whom you can send money as long as they accept UPI payments. You can send money in a matter of seconds by scanning the QR code, entering bank credentials, or using their registered mobile number.

Whatsapp Payments

We included Whatsapp Payments on this list because, despite its infancy, it has the potential to be quite valuable. You can make transactions as long as the recipient uses UPI-based applications, whether you’re lending or borrowing money from pals or paying for a service. Setting up WhatsApp Payments is simple, as you only need to link your bank account, and there are no hidden fees when using the app to make transactions. You must ensure that the phone number you use to create a WhatsApp account is the same as the one you used to link your bank account.

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My Jio

Jio has managed to break into every market since its start and build a name for itself, and this one is no exception. A tab for UPI-enabled payments is included in the multi-functional My Jio app. My Jio, like other digital payment apps, lets you link your bank account to your registered mobile number and pay for services without fuss. You can pay without any problems by scanning QR codes available in stores or by using a Virtual Payment Address (VPA).

BHIM Axis Pay

The final software on the list is BHIM Axis Pay, a UPI-enabled app that makes it simple to transfer and receive money over the internet. You won’t have to go around for every single transaction or payment you wish to make because Axis Bank offers UPI services (peer to peer and peer to merchant payments) through this app. Several third-party providers (such as Google Pay, CRED, and others) are compatible with the BHIM Axis Pay app, allowing them to offer their services on other platforms.

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