A payment gateway helps businesses to accept online payments from customers. The payment gateway is thus a service employed by a online business and does not have a direct relationship or account with the end customer.
An online/digital wallet is a payment instrument in which customers can store money and utilise on online websites which provide the support for these wallets. Payment gateways such as Razorpay provide support for multiple wallet options including Amazon Pay, Vodafone mPesa, JioMoney, Freecharge, Airtel Money, Ola Money, PayZapp and Mobikwik.