Notable  UPI Apps in India in 2022!

List of 5 Best UPI Apps in India in 2022: With the return of PM Modi 2.0 in 2019, digital India has continued to make new progress. UPI payments have played a big role in this movement. Moreover, the nationwide lockdown due to COVID-19 in 2020, led to a massive increase in the number of people opting for online financial payments.

In this time period, the value of UPI transactions soared by 105 percent in 2020. In this article, we will discuss the best UPI Apps in India for easy and fast transactions. But, before we start, let’s first understand what exactly is a UPI? UPI means Unified Payments Interface. UPI payments have taken a substantial march ahead and nowadays, the mobile app store is flooded with new and innovative UPI apps in India.

Briefing about UPI, it is an instant real-time payment system developed by NPCI which stands for National Payments Corporation of India which helps in inter-bank transactions by instantly transferring funds between two bank accounts on a mobile or web platform. Because of this advancement in UPI payments, money can now be sent to anyone across the nation within no time.

Anyway, not all apps listed on the play store are equally good for making UPI payments. Many times, the interface of some of these UPI apps in India may be hard to understand initially. Therefore, in this post, we have handpicked the best UPI apps in India that are easiest to use and definitely worth checking out.

Best 5 UPI Apps in India:

1. BHIM App

BHIM app is also the most popular UPI apps in India. It is launched and managed by National Payments Corporation of India (NPCI), BHIM (Bharat Interface for Money) is a UPI enabled the initiative to facilitate safe, easy & instant digital payments through your mobile phone.

As of November 2020, BHIM App has 0.31 million transactions in volume with Rs 13.87 Cr in transaction value.

2. PhonePe – UPI Payments, Recharges & Money Transfer

PhonePe stands second in our list of best UPI apps in India. It is a revolutionary app that made the Indian population start trusting and moreover making online mobile payments. PhonePe not only helps in making UPI payments but users can also recharge, make online bill payments, order food, shop, etc. all in just one app. As of November 2020, Phonepe has 868.40 million transactions in volume with Rs 1,75,453.85 Cr in transaction value.

PhonePe also provides various offers, rewards, and cashback to its customers. Having one of the simplest interfaces with the safest and fastest online payment experience in India, PhonePe is definitely one of the best payment app in India and better than most of the other UPI payment apps or internet banking services.

3. Google Pay (Tez) – A simple and secure payment app

Google Pay, formerly known as Tez App, stands the biggest and best app in our list of best UPI apps in India. This app has accumulated a huge customer base in India within a small time frame. And obviously, having a big brand name of ‘Google’ has helped this app to build trust among the new and existing customers.

As of November 2020, Google pay has 960.02 million transactions in volume with Rs 1,61,418.19 Cr in transaction value. Using Google Pay, users can send money to friends, pay their bills, shop online, recharge, or pay at the nearby café, etc. through secure payment by Google.

Another most enjoyable part of using Google Pay is the “Scratch cards”. Whenever the users make a new transaction, they are awarded a gift card in the form of a scratch card. After scratching the card, users can earn a gift in the form of money which directly gets credited into the registered bank account.

Anyways, you won’t earn a Scratch card on every transaction as there are a minimum value and number of transactions predefined by the app. However, if you’re lucky, you may get a reward of up to Rs 1 lakh.

4. Paytm – BHIM UPI, Money Transfer & Mobile Recharge

Paytm is a quite well-known mobile payment app in India. Along with Paytm Mall, it also offers Paytm Wallet and Paytm UPI (which was introduced in the year 2017). In simple words, we can call it a mega store due to the variety of products and services provided by this app.

Paytm users can perform almost each and every activity related to online payments on its app. And that’s why it is certainly the most used payment app and is third in our list of best UPI apps in India. As of November 2020, Paytm has 260.09 million transactions in volume with Rs 28,986.93 Cr in transaction value.

From making online Payments to buying household items, groceries, IRCTC train ticket booking, bus & flight booking, movie tickets, LIC premium payment, metro card recharge, buying gold, making loan payments, paying e-challans & more, everything can be done on this app.

5. Amazon Pay

As of November 2020, Amazon pay is the fourth biggest app used for making UPI transactions. Amazon pay got 37.15 million transactions in volume with Rs 3,624.51 Cr in transaction value in this month.

Having the big brand of Amazon definitely helped Amazon Pay to scale at such a fast pace in India within a small time frame. Moreover, having integrated with most shopping and payment gateways, along with awesome cashback rewards, Amazon pay has become the darling of the UPI payers lately.

Other UPI Apps include:

6) Mobikwik

Mobikwik is another option available to Indians when it comes to cashless transaction. It also started as prepaid recharge website, it works closely similar to Paytm. However, the places and the services where you can use Mobikwik are fewer. Mobikwik is available on Android, iOS and Windows platforms.

What all you can do with Mobikwik

-- Most of the services offered by Mobikwik are the same as Paytm.

-- It allows mobile recharge, bill payments for utilities like electricity, water, and gas. You can also pay DTH, internet bills.

-- Mobikwik allows bus and train bookings but not flights.

-- Mobikwik payment is accepted at more than 5000 restaurants, caf, super-markets, gift shops & physical stores.

-- The Mobikwik wallet option is also supported for online transaction on several websites.

-- Transfer and receive money through the app.

What's great and what is not

-- Accepted at a lot of places.

-- Allows transferring money back to the bank account.

-- Mobikwik Lite offers smooth functioning even on slow internet. It doesn't require a smartphone.

-- Dependency on internet.

-- Limited reach compared to Paytm.

7) Freecharge

Freecharge also works and offers services more or less similar to Paytm and Mobikwik. The app is available on Android, iOS and Windows mobile platforms. While the Freecharge payment is not accepted on major services like Uber and Ola, it offers some interesting features like "split bill", which allows you to split the amount to be paid among your friends.

8) Reliance Jio Money

Jio Money is one of the many apps in the My Jio app bundle on Android and iOS. While it offers almost all the feature available on Paytm, it works best with Reliance's stores like Reliance Retail, Digital Express, Reliance Fresh, Reliance Jewels, and other Reliance retail businesses.

Since the app is only a few months old, its reach is limited. The company, however, promises it to be "accepted by thousands of physical stores and shops across India".

Besides the Most Popular Payments Apps in India we have another two Companies which in recent time have launched their Wallet services.

Micromax Udio Wallet

Micromax and Transerv have launched Udio mobile wallet it goes without saying that it works the way others in this segment do. Udio is also a new app and its reach is limited compared to older players like Paytm and Mobikwik.

The company claims it to be "India's first Social Mobile Wallet", it creates a social media network of your contacts, which then makes transactions easier. It offers services like split bills and gift vouchers for friends.

Ola Money

Ola Money wallet, which was earlier limited to be used only with the Ola Cabs app, is now a standalone mobile wallet on Android, iOS and Windows mobile platforms.

Ola Money allows transaction at several online retailers and some offline retailers, you can check the full list of supported retailers here.

It also allows you to do prepaid recharges, bill payments, Mumbai metro recharge and DTH bill payments. You can also transfer and receive money through the Ola Money app.