Best payment app in India
With the return of Prime Minister Modi 2.0 in 2019, Digital India has continued to make new strides. UPI fees play a major role in this movement. Moreover, the nationwide lockdown due to Govt-19 in 2020 led to a massive increase in the number of people opting for online finance payments.
During this period, the value of UPI transactions increased by 105 percent by 2020. In this article, we will discuss the best UPI apps in India for easy and quick transactions. But before we get started, let’s first understand what UPI is. UPI is an integrated payment interface.
UPI payments have made significant progress and nowadays, the Mobile App Store in India is full of new and innovative UPI applications.
5 Best Payment Utility
PhonePe – UPI Charges, Recharges & Money Transfer
PhonePe tops the list of best UPI apps in India It is a revolutionary app that has started to be trusted by the Indian people and makes online mobile payments. Its UPI not only helps to make payments but also allows users to recharge, pay bills online, order food, and shop in one app. As of November 2020, Phonepe had 868.40 million transactions, valued at Rs 1,75,453.85 crore.
After that, PhonePe offers its customers various offers, rewards, and cashback. PhonePe is better than other UPI payment applications or internet banking services as it has one of the simplest interfaces in India with a secure and and fast online payment experience.
Google Pay (Tez) – A simple and secure payment app
Google Play, formerly known as Tez App, is the largest and best app in the list of best UPI apps in India. This processor has amassed a large customer base in India in a short period. More explicitly, having the big brand name ‘Google’ helped this processor to build trust among new and existing customers.
As of November 2020, Google pays 960.02 million transactions and the transaction value is Rs 1,61,418.19 crore. Using Google Pay, users can send money to friends, pay their bills, shop online, recharge, or pay at a nearby cafe.
Paytm – BHIM UPI, Money Transfer & Mobile Recharge
Paytm is the most popular mobile payment processor in India. Along with Paytm Mall, it also offers Paytm Wallet and Paytm UPI (which was launched in 2017). In simple words, it can be called a mega store because of the variety of products and services that these apps offer.
Paytm users can perform every action related to online charges in its application. That is why it is definitely the most used payment app. Also ranks third in the list of best UPI apps in India. As of November 2020, Paytm has a transaction value of Rs. 28,986.93 crore with 260.09 million transactions.
As of November 2020, Amazon pay is the fourth largest utility used to make UPI transactions. Amazon Bay received 37.15 million transactions this month with a turnover of 3,624.51 crores.
Having Amazon’s big brand, the Amazon pack helped to scale at such a fast pace in India in a short period.
Also, with the best cashback rewards, integrated with most shopping and payment gateways, Amazon Pay has recently become the darling of UPI payers.
BHIM App is the fifth most popular UPI App in India. Also, It was started and managed by the National Payments Corporation of India (NPCI), and BHIM (Bharat Interface for Money) is the UPI that implements security facilitation efforts. It is easy and also instant digital payments with your mobile phone.
As of November 2020, the BHIM app had 0.31 million transactions, valued at Rs. 13.87 crore.
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