Digitalization in India has led to a rise in the usage of Online Payment Apps in the country. Online payment applications are mobile-based apps that allow the user to not only send or receive money but also offer mobile recharges, loans, and digital gold purchases. Unified Payments Interface aka UPI is also a super quick payment mode that allows transactions within seconds. Online Payment Apps like Paytm are used to carry out these e-transactions. Paytm is one of the most successful online payment apps that accounts for 13.2% of digital payments in India.
However, recently Paytm found itself at the center of a regulatory violation. RBI found Paytm’s PPBL (Paytm Bank) violating KYC norms, data sharing norms, and other regulatory breaches. As a result, a fine of Rs. 539 crore was imposed on Paytm last year. Now, adopting an even stricter behavior, RBI has restricted the Paytm payments app to not taking further deposits, conducting credit transactions, or carrying out top-ups on any customer accounts, wallets, cards, and other instruments after February 29. Though customers will be able to use the wallet till 29th February beyond that, no money will be added to accounts.
This means Paytm usage will be limited soon. So, if you are someone who uses Paytm regularly or is skeptical of the app being closed down soon, here are ten other online payment apps that can be used.
Advantages of Online Payment Apps
- Allows contactless payments so users don’t have to deal with the hassle of cash or cards.
- Digital payments are faster and more efficient.
- Payment apps use data encryption or protected code systems to safeguard the personal information of users. Ways like PIN, fingerprint, etc. are used to add an extra layer to security.
- The recurring payment option allows the user to set up automatic payments for tasks that are regular. This way tracking finances is easier.
- E-payments are transparent as every detail about the transaction is stored in the system.
Limitations of Online Payment Apps
- Cybercriminals manipulate users, obtain private information, and rob people of their money.
- Technical glitches like server down, bugs, and other network issues are common.
- Online payment apps are dependent on the internet. If you live in remote areas or don’t have access to the internet, it might pose problems.
10 Best Paytm Alternatives for Online Payment Services in India
1. Google Pay
About the App– Google Pay is one of the most reliable and popular payment apps in the country. The app has a user-friendly interface that makes it easy to operate for first-time users as well. It offers Google’s security and trust along with rewards, coupons, and cashbacks that the company offers. It was released on 17th September 2017 and currently has over 1,00,00,00,000+ downloads on the Play Store. Google Play Store rating of the app is 4.4 out of 5.
Features-
- The app allows convenient payment of DTH, broadband, electricity, FASTag, and LPG bill payments online.
- The user can look for the latest recharge plans and recharge their or someone else’s mobiles.
- There is no need to visit ATM to see your account balance. You can check it via the app.
- Payments can be made using QR Codes as well.
- Booking tickets, shopping online, and ordering meals are also quick and easy.
- The app offers fast and safe payments via your credit/debit cards.
- Money can be sent directly from your bank account to any bank account including those who aren’t on Google Pay via UPI.
- The app is available on Android and iOS devices.
2. PhonePe
About the App- PhonePe is also a very fast and reliable online payment application that can be used as an alternative to Paytm. The app allows you to invest in gold and mutual funds and has an easy-to-use interface. It was launched to offer a one-stop solution for all payment needs. PhonePe was released on 29th August 2016 and currently has 50,00,00,000+ downloads on the Play Store. Google Play Store rating of the app is 4.4 out of 5.
Features-
- The app allows money transfers, UPI payments, and bank transfers across 140+ banks.
- Online payments can be made on shopping sites, food ordering apps, grocery apps, and booking apps.
- Offline payments can be made using a QR Code at local stores.
- Insurance Policies can be bought or renewed using the app. Users can buy health, motor, personal accident, travel, and shop insurance using the PhonePe app.
- It can be used to recharge phones or DTH and pay bills for credit cards, landlines, electricity, water, gas, broadband, and more.
- PhonePe Gift Cards can be bought for easy payments across 1 Lakh+ leading offline and online stores.
- The app is available on Android as well as iOS.
3. Amazon Pay
About the app- Amazon Pay is not a separate application but a part of the leading e-commerce portal Amazon India. It allows online payments thus adding more value to the usability of the platform. The service is a safe and convenient way to make purchases within seconds. The Amazon Pay Service was launched in India on 14th February 2019 and can be used via the Amazon App on Play Store and IOS store. It is supported by the Government of India.
Features-
- Amazon Pay allows users to send money and make quick payments to friends and family with UPI through contacts in your phone book.
- Faster and Safer online payments can be made with Amazon UPI and these can be done directly from a bank account. Payments include online shopping, recharge, bill payments, and more.
- You can load cash into your Amazon Pay Wallet at your doorstep and enjoy convenient one-click easy payments. Refunds are faster and hassle-free with no extra charges.
- Amazon Pay works on Android as well as iOS devices.
4. BHIM App (Bharat Interface For Money)
About the app– The BHIM app is a Government of India initiative that has been launched to encourage online payments. Launched by the National Payments Corporation of India (NPCL), the BHIM UPI app is similar to apps like Google Pay, and PhonePe. This app is managed by the same entity that originally launched the UPI facility. Though it is backed by GOI, BHIM isn’t the most used online app in the country. The app has been designed to suit the Indian demographic and has a rating of 4.2 out of 5. It was released on 29th December 2016 and currently has over 5,00,00,000+ downloads on Google Play Store.
Features-
- The app allows sending money by entering a UPI ID, account number, and Aadhaar or by scanning a QR Code.
- You can request money from other UPI users by entering their UPI ID.
- Quick payments by scanning the QR Code of the person you want to send money to. You can share your QR code to receive money.
- UPI Passbook can be accessed easily to keep track of transaction history.
- Switching between multiple bank accounts linked with the BHIM app is easy.
- The app is available for Android as well as iOS users.
5. Cred
About the app- Cred is one of the latest apps that entered the financial arena to disrupt the market. It is a credit card bill payment app where paying bills is more than what meets the eye. Cred informs its users about hidden charges associated with credit cards and their bills. This makes users better informed about the card they are using. Cred also offers rewards and cashbacks on every bill payment. It is a classy metal credit card that looks and feels unique. The app has a rating of 4.4 on the Play Store with over 1,00,00,000+ downloads. It was released on 24th March 2022.
Features-
- It allows instant virtual credit card activation.
- Users can swipe to pay for fast and easy transactions.
- Manage and convert purchases to EMI.
- Five times rewards, instant redemption of rewards, and more while using the app.
- You can pay One Card bills using the app.
- Pay and manage your rent using the app
- Available on Android as well as iOS devices.
6. Airtel Thanks
About the app- The Airtel Thanks app has been around for quite some time now and yet it is not very popular. This is because it is more of a feature than an app. It can be a good alternative for Paytm for those who are Airtel customers. Telecom operator Airtel offers an Airtel Thanks app wherein people can access their bills, recharge, send money, and more. It is integrated with Airtel Wallet and also allows UPI transactions without internet service. The app has a rating of 4.3 out of 5 on the Play Store and over 10,00,00,000+ downloads at the moment. It was released on 18th August 2012. It is powered by Airtel Payments Bank.
Features-
- The app allows recharging your mobile number for talk time, 5G data, and more. You can even add and manage your family members’ recharges.
- You can apply for an Airtel postpaid connection on the app.
- DTH recharges, and broadband bill payments are made easy.
- Online bill payments for electricity, water, gas cylinders, piped gas, school fees, and other utilities can be made via the app.
- Airtel Payments Bank and Online Wallet allow the opening of accounts with a 6% interest rate per annum. You can even invest in DigiGold, Fixed deposits, mutual funds and more.
- Personal loans can be applied for.
- The app can be used by Android as well as iOS users.
7. BharatPe
About the app- BharatPe is a comprehensive payment app that allows you to accept UPI and card payments from any application. You can accept payments from Google Pay, Phone Pe, BHIM, Amazon UPI, Paytm and more. The app is currently relied upon by over 7 million merchants for their payment needs. It has a rating of 4.6 out of 5 on Play Store and over 1,00,00,000+ downloads. It was released on 19 December 2017.
Features-
- You can accept all kinds of payments from major UPI apps without any additional fees.
- You can use multiple modes like bank account RuPay, credit card, and wallet to make payments.
- You can withdraw money instantly and transfer it directly to your bank account.
- Interest-free loans are available via a hassle-free, online application process that needs no guarantee, paperwork, or collateral.
- Available on Android as well as iOS devices.
8. Freecharge
About the app-Freecharge is a widely used online payments app that allows easy, quick transactions seamlessly. The main attraction of the app is free charge credit, rewards, cashback, and vouchers with every payment. It has a rating of 4.3 out of 5 on the Play Store and over 5,00,00,000+ downloads. The app was released on 22 April 2013.
Features-
- Send money to friends/family using UPI ID. Scan the QR Code to pay quickly at any store.
- Apply for free charge plus credit card and enjoy unlimited cashback.
- Pay electricity bills, cylinder bills, DTH bills, and mobile bills using the app.
- You can recharge your mobile and get cashbacks and rewards.
- Buy or sell digital gold online at real-time market value. Pay rent and education fees using credit cards.
- It is available for Android as well as iOS users.
9. Samsung Wallet/Samsung Pay
About the app- Samsung Pay allows users to add their credit or debit cards, post which can used to make payments from the bank via the app. There is no need to carry your cards physically and the app comes in handy for those who possess several bank cards. It is a simpler, safer, and smarter way to pay online. The app has a rating of 3.5 out of 5 on the Play Store and over 1,00,00,000+ downloads. It was released on 2nd August 2023.
Features-
- Allows you to make purchases using your device without the need for physical cards.
- Offers great deals, gift cards, rewards, and vouchers from national as well as international sellers.
- Uniformly accepted at millions of locations worldwide.
- Comes with an added layer of safety to prevent frauds.
- Accessible to Android users
Download Link- Android
10. Mobikwik
About the app-Mobikwik is also a reliable alternative to Paytm as it offers quick online payment facilities. It is one of the fastest and safest UPI apps and also comes with features like smart account tracking, and bank balance tracking. It has a rating of 4.4 out of 5 on the Play Store and over 5,00,00,000+ downloads. The app was released on 25th August 2012.
Features-
- The app allows online DTH recharge, mobile recharge and other recharges.
- Bill payments for postpaid, gas cylinder, electricity, broadband, water, piped gas. FASTag, Property tax, and traffic challans can be done via the app. 300+ billers are supported on the app.
- Credit card bills can be paid for all leading national and international banks.
- Instant money transfers are available via IMPS, BHIM UPI, Wallet, or credit cards.
- Offers credit up to 60, 000 INR for shopping at 1 Lakh+ merchants like Zomato, Swiggy, 1mg, and more.
- Scan the QR code at all local stores for quick and easy payment.
- Available for iOS as well as Android users.
10. Flipkart UPI
About the app– E-commerce portal Flipkart has also entered the UPI race by launching its own UPI handle @fkaxis. As the name suggests, Flipkart has announced the UPI handle in partnership with Axis Bank. A new scheme has been rolled out under the tagline ‘India’s Most Rewarding UPI’. Android users can access Flipkart UPI using the Flipkart app on their device. Users can register for a new UPI ID that can be used for fund transfers and in-app payments.
Features-
- Flipkart UPI offers convenient and zero-cost solutions along with an easy and smooth starting process.
- One-click and quick payments are allowed for mobile recharge and bill payment on the app.
- The portal also offers a Flipkart Axis Bank Credit Card.
- A wide array of rewards includes Supercoins, Brand vouchers, and others.
- Flipkart UPI can be used to make payments outside the Flipkart marketplace by scanning QR codes.
- Users with any bank account can create a new UPI ID on Flipkart for no cost.
- Currently, Flipkart UPI is limited to Android only but it will soon be rolled out to iPhones as well.
Download Link- Android
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