UPI apps have options of sending money from your bank account to other’s bank account without any charges. It is an easy , fast and secure way of doing online transactions.
An important thing to note is that all UPI apps transactions speed are the same and the speed of transaction doesn’t depend at all on the particular UPI app but depends on the sender bank server speed and receiver bank server. The UPI speed is the same in all apps as NPCI acts as the middle man in all these apps. All these UPI apps ultimately submit their transactions to NCPI and after NCPI approval all transactions get processed. But offers in different apps are different and at different times.
So, you should choose the apps with
Google Pay (previously known as Tez) is a payment app with which you can send money to users, recharge your phone, pay bills, and also you can pay to your neighbourhood stores. Send or receive money with zero fees, straight from your bank account to almost anyone. You can send or receive money even if your contact is not on Google Play.
Also, you can earn upto ₹1,00,000 by earning scratch cards by doing for transactions. Users can use it on any website who accepts UPI Payments. It is available for both Android & iPhone users.
PhonePe is another great payment option after Google Pay. It is now acquired by Ecommerce Giant Flipkart. Here also users can make instant payments like Send or Receive Money, Utility Bill, Mobile Recharges, Shopping Travel, etc. Credit Card Bills & Insurance Premium can also be paid through the App.
There are multiple ways to pay – Direct Transfer, POS, QR Code. PhonePe is multilingual. Choose from Kannada, Marathi, Bengali, English, Hindi, Tamil, Gujrati, Telugu, Malayalam, Assamese and Odia languages to transact easily on the app. PhonePe is also accepted by a wide range of merchants.
Paytm is one of the most famous payments app available out there. It has also enabled UPI in their app.
The setup process is easy enough…just follow the guidelines mentioned in the app and create your Virtual Private Address (VPA/UPI). The address will look like this (yourname@paytm OR mobilenumber@paytm).
Freecharge has also UPI services. Offers the same features as the other apps. You will get UPI handle like this ( anything@freecharge). Sometimes Freecharge runs some offers for using Freecharge UPI on a merchant website. You can add multiple bank accounts (upto 2).
Mobikwik also started their UPI Service from May 2018. You just need to download the Mobikwik app and register yourself with your mobile number. After that start the process to create a UPI handle. All you need to do is use your mobile number as your own VPA (mobile no.@ikwik) to transfer money instantly. The features are the same as the above apps.