As digital payments continue to grow in India, so is the competition among apps that offer these services. With the introduction of UPI and the promotion of digital payments amid the COVID-19 pandemic, it seems every fintech company is looking to join the bandwagon offering these services. The most popular apps in India include PhonePe, Paytm and Google Pay. All three have become synonymous with digital transactions in the country, but some elements may be missing here. Check out our comprehensive comparison to see which app is best for you.
Properties: google pay, phonepe, And Paytm All provide UPI payment method. If we look at adoption, PhonePe had the highest number of UPI transactions in September 2021 (1,653.19 million), followed by Google Pay (1,294.56 million) and Paytm (462.71 million). However, both Paytm and PhonePe offer wallet services that allow users to deposit money for prepaid payments. Google Pay, on the other hand, does not offer any wallet, and the money is deducted from the bank. A digital wallet can also help keep the overall bank statement less cluttered.
That being said, Google Pay has partnered with more online brands to offer convenient digital payment modes. All three platforms offer rewards while paying from their respective platforms.
Interface and Language: After using all three apps, Google Pay offers the cleanest user interface (UI) ever, but that may be a matter of perspective. This may be true as there are comparatively fewer services to offer Google Pay, but it is slowly expanding.
But the next option makes more sense when it comes to accessibility. Both Paytm and PhonePe offer 11 Indian languages including English. Whereas, Google Pay has fewer options and users get only seven regional language options: Hindi, Bengali, Gujarati, Kannada, Marathi, Tamil and Telugu. The other two also offer Malayalam, Odia and Assamese language options.
Ease of Recharge/Bill Payment: But it all comes down to the various services you can pay for through these apps. So far Google Pay, PhonePe and Paytm are face to face when it comes to digital payments. All three apps allow basic things like phone recharge, electricity and water bill payments and even booking flights or trains. In other words, it may be a matter of preference. However, readers should note that Paytm and PhonePe offer additional services such as mutual fund payments or obtaining health insurance. google pay Recent Participation With SBI General Insurance to offer health insurance to its users.
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