The Four best apps for transferring money in India

Payment habits are changing rapidly. In many parts of the world including India use of cash is in sharp decline. In reality, even methods such as bank transfers and payment cards are not in very good health.

In the past checks and slowness were considered synonymous with reliability. Barriers and obstacles served to create the solidity of the system. Today we need speed and integration with other existing services, which means breaking down those same barriers built in the past.

It is about solving the need for:

  • Make online purchases
  • Avoid long lines in physical stores
  • Remember to bring cash and coins to split the bill between friends.

To meet these needs, a series of new ways of transferring money are mushrooming.

Rise of digital Wallets

These apps act as a digital wallet for your payment cards. As the name implies, they are virtual wallets where you can keep your payment cards. Their peculiarity is that they make your life easier by collecting your payment instruments and helping you to use them in a smarter and faster way.

Through these Wallets you can in fact make a series of direct payments to different services (pay utility bills, parking, season tickets, etc.), all conveniently within the app.

Digital wallets have seen a sharp rise in countries with emerging economies, whose banking system is still not fully digitized. Prime examples are Spay India, Easypaisa Pakistan and Rapidtransfer Africa.

The four best apps to transfer money

The sea is large and full of more or less valid solutions. I confess that quantity is almost never synonymous with quality. This means that some apps are so ugly and useless that I feel ashamed of them.

Then, of course, there are the spectacular ones, or those solutions that make you think “but until now how did I live without?” Let’s see the list of apps worthy of mention.


As far as I’m concerned, PayPal remains the undisputed king of all payment systems out there. It began by solving the psychodrama of the internet age, which is the ability to pay online without having to share credit card information.

Today it has evolved into a kind of virtual account that is very easy to use. To use it in online stores you have to type in a single password and sometimes not even that. Pay virtually anywhere on the internet and exchange money between friends in seconds.

When I have to pay online, I ALWAYS look for the “Pay with PayPal” button because it is synonymous with speed and guarantee. No more long screens or forms to fill out to enter your payment details. Enter the password, click on ok and you have paid. 


With this system you can also transfer money abroad very quickly (in some cases almost in real time). Once the app has been downloaded, enter the payee details and the amount. Then pay via your credit card or bank transfer.

Azimo takes care of the transfer and uses one of its local accounts to transfer money quickly. The costs and commissions are very competitive compared to a normal bank transfer (which among other things can take several days to complete).

3. N26

We are talking about the European market leader. Already widespread in several European countries, it is questioning the way of banking as we are used to knowing it. The stated goal is to represent a platform that meets all the financial needs of a user. Using the services and products you need, you can “build” your bank, based on your needs.

As of today, in addition to basic banking services, it offers the possibility to send money in other currencies at low commissions through a partnership with TransferWise. Going beyond the current banking model is a real necessity.

The real added value has yet to be assessed, especially on the basis of the services they declare they want to implement in the future.


This service is dedicated exclusively to money transfers in foreign currencies. You can basically send money to another country; in a currency you don’t own. The convenience compared to the equivalent option of the Banks lies in the reduction of commissions, especially the hidden ones (which disappear).

Transferwise in fact always uses the real exchange rate and asks you for a small commission. The way money is transferred is like a network of many checking accounts located around the world. 

Whenever you want to send money, your money is credited to your country’s Transferwise account. At the same time, a foreign currency transfer starts from the Transferwise account of the foreign country to the beneficiary.

Depending on the way you decide to make the transfer, the times can vary on average from a few hours to 4-5 days. If you think that sending money to some countries with Banks is faster, think again.

It is therefore an easy, fast and economically convenient service.


Money transfer systems are evolving and leading us to move beyond the use of cash. In fact, they also question other more common forms of payment, such as wire transfers and cards.

When it comes to shopping, the current trends demonstrate a shift towards online platforms and the demand for speed and security. The real challenge is therefore to offer a system that integrates well with the ecosystem on which it rests and is simple, fast, functional and safe. I recommend using the Spay India app when it comes to transfer funds, pay utility bills and other payment transactions in India quickly. 

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