June 19, 2024
Which Online Payment App Is Best In India

As the number of e-commerce transactions continues to increase in India, businesses and consumers alike need to know which online payment app is best. 

With so many different options available, it can be difficult to decide which one is right for you. 

In this article, we will discuss the various popular online payment apps available in India and their features, helping you decide which one is most suitable for your needs.

Here are the top 5 payment apps in India according to Finsurances.co:

PhonePe

PhonePe has many features that make it a popular payment app in India. Some of them include:

  • Credit and Debit Card Linking
  • Bank Balance Check
  • Money Storage
  • App to Bank Account
  • Send and Receive Money
  • POS Payments
  • PIN Authorization
  • Bank Account Linking
  • Wallet Top Ups

Some of the benefits of using PhonePe include its functionalities, general usability, security, and convenience for business transactions. 

It’s also a centralized digital wallet that allows you to make instant money transfers with UPI.

Paytm

Another app is Paytm.

Paytm is an Indian digital payment platform that allows users to make payments, transfer money, recharge mobile phones, pay utility bills and book movie tickets among other things. 

It’s one of the most popular digital payment platforms in India with over 30 Crore Indians using it.

Here’s how you can use Paytm :

  • Register & verify account: You can register using your Mobile Number and Email Id.
  • Add Money to Paytm Wallet: You can add money to your Paytm Wallet from your netbanking account, debit card, or credit card.
  • Pay using Paytm Wallet: You can pay using your Paytm Wallet at various merchants such as petrol pumps, grocery stores, restaurants, coffee shops, multiplexes, parking lots, hospitals and more.
  • Call toll free number 1800 1800 1234: If you have any issues with your account or transactions, you can call the toll free number for assistance.
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And it comes with some perks:

  • Paytm Wallet helps in making cashless and digital payments.
  • It is safer as you do not pay through the bank directly.
  • It is easy to use. Even people who are not tech-savvy can use Paytm easily and the user interface is also very simple.

Google Pay

Google Pay (formerly Android Pay) is a mobile payment service developed by Google to power in-app, online, and in-person contactless purchases on mobile devices, enabling users to make payments with Android phones, tablets, or watches. 

It is a digital wallet platform and online payment system that provides a convenient solution for customers in the digital world.

You can authenticate via a PIN, passcode, or biometrics such as 3D face scanning or fingerprint recognition. 

As of 2023, it is currently available in 62 countries!

Here are some general steps to use Google Pay:

  • Download Google Pay on your Android or iOS device.
  • Sign in to your Google account and add a payment method.
  • To pay in stores, look for the contactless symbol at checkout and hold your phone near the terminal.
  • To pay online, look for the Google Pay button at checkout.

Is Google Pay safe?

Yes, Google Pay is safe and secure to use. It has useful security features such as fraud alerts when you’re sending money. 

It’s arguably safer than using a credit or debit card for shopping because it keeps your information private. 

However, it’s important to use it with security in mind and optimize your phone’s security settings.

Airtel Payment Bank

Airtel Payment Bank is a digital payment bank in India that provides services such as recharges, utility payments, wallet and money transfers.

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It’s one of the trusted payment banks in India that provides best offers on recharge and utility payments.

Airtel Payment Bank offers a lot of benefits to its customers. Here are some of them:

  • Zero balance account: There is no minimum balance requirement with the Airtel Payments Bank account.
  • Virtual debit card: The account comes with a virtual debit card at no extra charge.
  • Contactless payment options: Airtel Payments Bank offers contactless payment options to its customers.
  • Personal accident insurance: It even offers personal accident insurance to its customers, that provides insurance money up to ₹1 Lac, absolutely free of cost.
  • Digital Saving Account: Airtel Payments Bank offers Digital Saving Account, which makes it a quick and paperless account, which can be opened using Aadhaar-based e-KYC. This requires no documents at all, only the customer’s Aadhaar number is needed 

Amazon Pay

Amazon Pay is an online payment processing service that lets customers use their account information to purchase on other e-commerce websites. 

It’s designed to offer a safe, secure, and convenient payment option on third-party retail sites. 

Amazon Pay gets a rating of 9 because it does not drastically improve the business. That said, it allows us to offer another payment method for users who trust Amazon and will always or only checkout with Amazon Pay.

When it comes to comparing Amazon Pay with other payment services like Google Pay and Paytm, Amazon Pay in comparison to the other UPI apps is a more trusted platform4. 

The best part is that you can directly do Amazon shopping via Amazon wallet or Amazon UPI. Moreover in comparison to Google Pay Amazon Pay offers more cashback and relevant rewards.

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To sign up for Amazon Pay as a customer, you need to have an Amazon account. If you don’t have one already, you can create one by visiting www.amazon.in in your web browser. Once you have an Amazon account, follow these steps to sign up for Amazon Pay:

  • Go to https://www.amazonpay.in/ 
  • Click on “Sign in” at the top right corner of the page
  • Enter your Amazon account credentials and click “Sign in”
  • Click on “Add Money” or “Send Money” to get started with Amazon Pay

Are online payment apps safe in India?

Online payment apps have become increasingly popular in India due to their convenience and ease of use. 

However, it’s important to be cautious when using them. According to a report by Statista, digital payments in India are expected to reach $1 trillion by 2023.

Several online payment apps in India are considered safe and secure, such as Google Pay, PhonePe, Paytm, etc. 

These apps use encryption technology to protect your data and transactions.

It’s also essential to update your app and use strong passwords to ensure maximum security.

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