It’s been a week since Narendra Modi stole Donald Trump’s thunder and grabbed headlines with his demonetisation scheme. And it’s been a week since the old 500- and 1,000-rupee notes went out of circulation and I’ve been forced to survive with the lone Rs. 100 note that is now safely ensconced in the dark depths of my wallet. With serpentine queues outside banks and ATMs, withdrawing cash has been a nightmare. While card payments have taken care of most of my major expenses, I didn’t have much to worry about initially. But, that doesn’t put a blanket on all the smaller payments that need to be taken care of. And that’s where e-wallets step in. With some grocers and auto drivers accepting these payment modes, downloading an e-wallet app might not be such a bad idea. At least, that’s a couple of more expenses taken care of till cash flow is restored. Here are a few you could consider.
Paytm
One of the largest payment companies in the country, Paytm has seen nearly double its normal transactions since the demonetisation move. Given that it is among the most widely-accepted mobile payment gateways, it’s quite likely that a quick QR code scan could buy you that auto ride when in a cash crunch. The service can be used to recharge your mobile phone, DTH, make online bill payments and even pay for services like cabs and autos or book movie tickets. You can easily add money to your wallet using your debit or credit card or even netbanking. So, maybe, that lone Rs. 100 can survive just a little longer in your wallet.
MobiKwik
Another hassle-free mobile wallet app, MobiKwik has tie-ups with selected service providers and is great for making all those sundry payments that would otherwise require cash. Some of the big players — both offline and online — accept MobiKwik payments, making life a little easier in these hard times. The service also has a network of over 5,000 restaurants, cafes and supermarkets. So, the next time you shop for a little under Rs. 200 and worry that the store won’t accept a card payment, just whip out your app.
FreeCharge
This one’s been quite popular with people looking to easily recharge their prepaid mobile phone connections and DTH services. And, in light of the recent shortage of cash, the service has also introduced a 100 per cent cashback offer on your first transaction with a maximum limit of Rs. 75. A number of utility service providers accept a FreeCharge payment. Popular merchants in the food, travel and shopping segments accept the payment. The service also has features like Data Lifeline that steps in as a saviour when you exhaust your data limit. While it is exclusive to prepaid mobile phone users, it is still not a bad idea.
Citrus Pay
This one acts as a payment gateway for merchants and a mobile wallet for users. With over 8,000 merchant partners and 21 million registered users, Citrus Pay offers a host of innovative payment solutions for the currency-strapped individual. They even have a one-tap option to make payments quicker and easier. So whether it is dinner or a movie or a round of drinks with friends, you can easily make a payment with the service or even split a bill with the group. It also lets you transfer money to people and lets you keep track of your expenses.
Pockets
This one is by ICICI bank and is a great way to make quick payments, specially for smaller denominations which would otherwise require cash. It is a Visa-powered e-wallet that an individual can use to make mobile recharges, send money, pay bills or shop; irrespective of which bank they hold an account in. The wallet also comes with a physical shopping card that can be used to shop online or offline.
