In the present day, mobile wallets have gained immense popularity and have become an essential aspect of our lives. With the advent of digitalization, these wallets have proven to be the most convenient and efficient way to carry out business transactions instantly. Paytm and MobiKwik are two of the most widely used mobile wallet applications for online money transfers. The following article aims to compare and contrast these two wallets and identify which one is superior. Let’s delve into it.
Paytm Vs MobiKwik Honest Comparison
Number of Consumers
According to the Google Play Store, Paytm has almost 50-100 million users and has been rated 4.4 by the users. On the other hand, MobiKwik has 10-50 million users with a rating of 4.2. So it’s quite clear that Paytm stands out as the clear-cut winner and is quite popular. It is observed that iPhone users tend to have Paytm on their phones more than other users, and most of the ratings come from them.
Cashbacks
A growing company tries to gather more and more users in a short time. For this, investors try to provide huge discounts to attract customer interest. MobiKwik is generously trying to catch up with Paytm. MobiKwik introduces new cashback offers almost every week to attract new customers. A few years back, when Paytm had fewer consumers, they also implemented the same strategy to gain more users like MobiKwik.
Transaction Options
Both mobile wallets allow users to transfer money or receive payments by scanning QR codes. Also, these two apps allow users to transfer money by entering the receiver’s phone number. These two features make both apps quite business-friendly and well-known to users.
Marketplace
Not only can you recharge your phone number online, but Paytm also allows users to buy or sell products online with a simple click. As MobiKwik is a wallet-only application, it doesn’t allow users to buy or sell products online as Paytm does. It only enables you to recharge numbers and send or receive online money.
Cash Pick-up
Don’t want to visit the bank for a money deposit? But have enough cash? Here is the solution: MobiKwik allows users to use a cash pick-up service through which one can go cashless within half an hour. If someone opts for the cash pick-up service, a MobiKwik agent will visit you to collect cash, but you have to be ready with the money. After the collection of money with authentic verification, your money will be credited to your MobiKwik wallet, and eventually, the balance will get updated. Compared to MobiKwik, Paytm does not offer this facility.
Conclusion
To be honest, both apps are decent in their appearance and facilities. Paytm has a huge user base, and most local shops prefer Paytm QR for transactions over MobiKwik. As the world is switching to digitalization, people need to have both apps along with BHIM.
