We are living here in digital India. Things are being change by every second and we must be updated with the requirements of nature of world. Online payment apps and wallets were surprisingly boomed during declaration of demonetization in 6 December 2016. Prime Minister Narendra Modi asked people to move forward towards online payment and people did so. There are several apps by which we can pay our bills and payments. We are discussing about best payment app gateway being used in INDIA i.e. google pay vs phonepe vs BHIM vs Paytm.
The name google is a well-known and major shareholder in field of online search engines. Actually google is stepping forward and having monopoly in this field. In the end of 19th century google was just emerging and yahoo was big brother. But with continuous integration and best user approach google captured whole search engine market. Google had lunch many web and mobile based applications.
Google Pay is one of them and was launched in 2015. It has been increasing customer numbers and payment app market. Google pay has many features. Install it from google Play Store which is a wide digital platform for mobile application. Search google pay and click install. It will ask you phone number, bank name and linking confirmation from Bank. You have to enable six digit security pin for any payment transaction. Google pay always ask for location and it is a necessary field for any transaction. I personally do not want to share my location or other details for small transaction. Here it seems that you cannot use google pay without sharing your detail it seems uncomfortable just for sake of data sharing.
Google pay gives you opportunity for earning by inviting a friend. When your friend do any successful transaction by your reference link, you are directly paid Rs 51 in your bank account. Again any first transaction to any person from Google Pay will gift you scrach cards with some amount.
Phonepe is actually one of my favourite apps installed in handset. Launching year in 2015 and now owned by company name Flipkart which is a well known online shopping store.
In India, flipkart has its own market repeated customer. So we can say that phonepe is trustworthy app for financial and bill payment.
You can search in google Play for phonepe and install it. It will confirm your mobile number and link your bank after confirmation. You have to enable 6 digit pin for any payment transaction through your bank. Definitely, Phonepe has wide range of utility bill and payment options. Flipkart has tie up with many of Government and local bodies.
So phonepe makes online transaction and bill payment very easy and handy.
Live Google pay, phone pe has also reward and referencial programs. You can earn money by 8 and directly credited to your bank account. This wallet has limitation of 1 lacs within 24 hour. It means you can transfer only one lakh amount within 24 hours.
BHIM was launched on 30 December 2016 by respected Prime Minister narendra Modi. This is developed by National Payments corporation of India. It is government authorized payment app and available in 13 languages. Basic working of app is same as above mentioned apps. You can directly install it from Google Play store. It will link with your bank account with six digit pin.
It has a major benefit for far off locations where poor connectivity of internet. You can authorize your bank by sending messages. So BHIM had flexible approach towards customers.
I, personally find it very helpful in case of facing any error/delay in other payment apps. We can trust it by our heart due to its authenticity. No complexity, very simple user interface and continual integration and updation.
Paytm is basically a wallet and launching year 2010. But use of PAYTM was drastically increased during demonetization. Because of being online wallet, it has no direct linking with your bank. This seems drawback that you have to top up this wallet. Nowadays paytm had been integrated in small Bank and promising to get you interest also as per our saving account in regular banks. By Paytm, you can make transaction anywhere in india, even in small retail shops.
Paytm has many cashback offers and online store where you can order like online stores and material will be delivered on your location. It offers you many deals on daily basis and you can get benefited.
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