List of 6 Best UPI Apps in India in 2023
In India past few years current government is promoting Digital India Movement. In recent days lots of companies providing free UPI payment in India. So in this article we will provide list of 6 Best UPI Apps in India in 2023. Because some time UPI payment hold very badly and reverse of payment takes 2-3 days.
Importance of online payment was arises in the duration of covid-19 pandemics. At that time people realizes that how much online transaction very useful during any shortage of hard money.
Total number of digital payments across India from financial year 2018 to 2022.
Best 7 UPI Apps in India:
|2||BHIM(Bharat Interface for Money) UPI|
|3||Google Pay (TEZ)|
1. CRED UPI
CREDis an Indian fintech company, based in Bangalore. CRED is founded by Kunal Shah in 2018. Basically CRED is reward based credit card payment app in India. In recent years CRED users grown rapidly fast because of their lightening fast payment settlement.
Cred offered many different products – Electricity Bill, Cred Insurance Premium , Office Rent, Cred Rent Pay, Cred Cash, Cred Pay, Cred Store, and Cred Travel Store, Etc.
Download CRED (Android)
BHIM UPI is an Indian mobile payment app. BHIM is launched on 30 December 2016 and managed by National Payments Corporation of India (NPCI). In 2021, Bhutan became the first country for their digital transactions.
BHIM UPI is one of the safest and fast payment app, And also used instant digital payments method.
Google pay is a mobile payment service app developed by Google. Google pay has acquired huge customer base in short span. One of the main reason of growing so fast in India with the brand name of Google. Google has huge customer base in India with their different product of ranges.
With google pay users can send money to friend, shop online, send money from one bank account to other bank account without paying any transaction fees. Google pay rewards “scratch card” whenever users pay their bills and send money to friends. Google pay send cashback directly to linked bank account.
Phonepe is an Indian origin digital payment app, headquartered based on Bengaluru, Karnataka, India. Phone pay was launched in December 2015 by Sameer Nigam, Rahul Chari and Burzin Engineer.
Phonepe was completed one crore users within three month of launched. In 2018, Phonepe completed five crore users on the google play store. Phonepe overtook BHIM UPI and became market leader in August 2017.
In January,2020 PhonePe also launched Liquid Fund in association with Aditya Birla Mutual Fund.
Awards and recognition of PhonePe
- 2018: Recognized by National Payments Corporation of India (NPCI) for driving the largest number of merchant transactions on the UPI network.
- 2019: ‘Best Digital Wallet’ Initiative at the Indian Retail and E-Retail Awards 2019.
- 2021: Won two awards at IAMAI India Digital Awards 2021 – Gold for Excellence in Wealth Management (Mutual Funds category) and Silver for Unstoppable India video.
- 2021: Phonepe has Won the ‘Excellence in Insurtech’ award at Assocham’s Fintech & Digital Payments Awards 2021.
5. Amazon Pay
Amazon Pay is an online payment processing service owned by Amazon.com. Amazon pay is the fifth biggest app used for making UPI transactions. On 14 February 2019, Amazon launched Amazon Pay Unified Payments Interface (UPI) for Android users in partnership with Axis Bank.
Amazon Pay also grown their users by rapid phase in shorter time span. They attracted their users by giving cashback rewards.
6. Paytm UPI
Paytm is another UPI app in India which is very famous amongst commercial business as well as P2P transaction. Paytm has very big product range including Paytm Mall and Paytm wallet etc.
Paytm users do all activity related to payments like recharge mobile bills, House rent payment and shop rent payment etc. They also launched Paytm postpaid Features in recent months. In this people gets some credit limits (Range between 1000-60000). They can use for this to pay Rent payment, Train tickets and movies tickets. Users will have to repay after one months when Bills generated.
Users also gets rewards cashback when they pay their bills. Paytm also launched Paytm Money-MF, stocks, IPO
Users invest their money with this apps also. They also launched Loan Facility up to 3Lacs with Aditya Birla Finance Limited(ABFL).
Monthly Data Of UPI Transaction From Jan-20 to Feb-23.
|Month||No. of Banks live on UPI||Volume (in Mn)||Value (in Cr.)|
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