6 October, 2025
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| Rank | Wallet Name | FY24 Revenue | Founder / Owner | Parent Company | Country | Release Year | Key Highlights |
| 1 | Amazon Pay | ₹31,000+ Cr (India ops) | Andy Jassy | Amazon Inc. | USA | 2016 | UPI, cashback, merchant tools, Amazon ecosystem |
| 2 | Paytm | ₹7,990 Cr | Vijay Shekhar Sharma | One97 Comm. | India | 2010 | Recharge→Wallet →Bank →Lending |
| 3 | PhonePe | ₹2,914 Cr | Sameer Nigam, Rahul Chari | Flipkart (Walmart) | India | 2015 | UPI-first, now insurance + gold |
| 4 | JioPay | ₹2,000+ Cr | Mukesh Ambani | Reliance Jio | India | 2020 | QR + UPI + JioMart integration |
| 5 | Airtel Payments Bank | ₹1,000+ Cr | Sunil Mittal | Bharti Airtel | India | 2017 | Wallet + savings + UPI |
| 6 | Cred Pay | ₹1,200 Cr | Kunal Shah | CRED | India | 2021 | Credit card rewards + CBDC wallet |
| 7 | Mobikwik | ₹560 Cr | Bipin & Upasana | MobiKwik Systems | India | 2009 | First Indian wallet; now ZIP credit, UPI |
| 8 | Freecharge | ₹350 Cr | Kunal Shah (orig.) | Axis Bank | India | 2010 | Recharge → Axis integration |
| 9 | Google Pay | Part of Alphabet ($300B+) | Sundar Pichai | Google LLC | USA | 2017 | UPI + NFC + rewards |
| 10 | BHIM UPI | Govt-backed (non-commercial) | NPCI | Govt of India | India | 2016 | Aadhaar-linked UPI wallet |
Category: Blog
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