How Online Wallets like PayTM, FreeCharge, MobikWik working?

Online wallets are the easiest way to take payments from customers is to make account with companies like PayTM, FreeCharge and MobikWik. These wallets are already very popular among the people who transact online as they are providing huge discount on transactions done by their website to acquire the market share.

Working of Online wallets

It is very easy to start with these wallet it just require a sign up and you are done to take payments from your customers. Unlike POS Machine it doesn’t require any current account.

Type of account

These companies had two types of account one is basic and another upgraded. In basic account there is a limit of 20,000 to spend and in upgraded account you can spend up to 1 Lakh in a month. You can also send this amount into your bank account after paying nominal fee to these company.

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