List of 6 Best UPI Apps in India in 2023
In India previous few years present authorities is selling Digital India Movement. In current days plenty of firms offering free UPI fee in India. So on this article we’ll present listing of 6 Best UPI Apps in India in 2023. Because a while UPI fee maintain very badly and reverse of fee takes 2-3 days.
Importance of on-line fee was arises within the period of covid-19 pandemics. At that point folks realizes that how a lot on-line transaction very helpful throughout any scarcity of laborious cash.
Total variety of digital funds throughout India from monetary 12 months 2018 to 2022.
Best 7 UPI Apps in India:
| 1 | CRED UPI |
| 2 | BHIM(Bharat Interface for Money) UPI |
| 3 | Google Pay (TEZ) |
| 4 | Phonepe |
| 5 | Amazon Pay |
| 6 | Paytm UPI |
1. CRED UPI
CRED is an Indian fintech firm, primarily based in Bangalore. CRED is based by Kunal Shah in 2018. Basically CRED is reward primarily based bank card fee app in India. In current years CRED customers grown quickly quick due to their lightening quick fee settlement.
Cred provided many alternative merchandise – Electricity Bill, Cred Insurance Premium , Office Rent, Cred Rent Pay, Cred Cash, Cred Pay, Cred Store, and Cred Travel Store, Etc.
Download CRED (Android)
2. BHIM(Bharat Interface for Money) UPI
BHIM UPI is an Indian cell fee app. BHIM is launched on 30 December 2016 and managed by National Payments Corporation of India (NPCI). In 2021, Bhutan turned the primary nation for his or her digital transactions.
BHIM UPI is among the most secure and quick fee app, And additionally used prompt digital funds technique.
3. Google Pay (TEZ)
Google pay is a cell fee service app developed by Google. Google pay has acquired large buyer base in brief span. One of the principle cause of rising so quick in India with the model identify of Google. Google has large buyer base in India with their totally different product of ranges.
With google pay customers can ship cash to pal, store on-line, ship cash from one checking account to different checking account with out paying any transaction charges. Google pay rewards “scratch card” every time customers pay their payments and ship cash to mates. Google pay ship cashback on to linked checking account.
Download Google Pay (Android | iOS)
4. PhonePe
Phonepe is an Indian origin digital fee app, headquartered primarily based on Bengaluru, Karnataka, India. Phone pay was launched in December 2015 by Sameer Nigam, Rahul Chari and Burzin Engineer.
Phonepe was accomplished one crore customers inside three month of launched. In 2018, Phonepe accomplished 5 crore customers on the google play retailer. Phonepe overtook BHIM UPI and have become market chief in August 2017.
In January,2020 PhonePe additionally launched Liquid Fund in affiliation with Aditya Birla Mutual Fund.
Download PhonePe (Android | iOS)
Awards and recognition of PhonePe
- 2018: Recognized by National Payments Corporation of India (NPCI) for driving the most important variety of service provider transactions on the UPI community.
- 2019: ‘Best Digital Wallet’ Initiative on 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 class) 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 internet fee processing service owned by Amazon.com. Amazon pay is the fifth greatest app used for making UPI transactions. On 14 February 2019, Amazon launched Amazon Pay Unified Payments Interface (UPI) for Android customers in partnership with Axis Bank.
Amazon Pay additionally grown their customers by speedy section in shorter time span. They attracted their customers by giving cashback rewards.
Download Amazon Pay (Amazon app) (Android | iOS)
6. Paytm UPI
Paytm is one other UPI app in India which could be very well-known amongst business enterprise in addition to P2P transaction. Paytm has very huge product vary together with Paytm Mall and Paytm pockets and so forth.
Paytm customers do all exercise associated to funds like recharge cell payments, House lease fee and store lease fee and so forth. They additionally launched Paytm postpaid Features in current months. In this folks will get some credit score limits (Range between 1000-60000). They can use for this to pay Rent fee, Train tickets and films tickets. Users must repay after one months when Bills generated.
Users additionally will get rewards cashback once they pay their payments. Paytm additionally launched Paytm Money-MF, shares, IPO
Users make investments their cash with this apps additionally. They additionally launched Loan Facility as much as 3Lacs with Aditya Birla Finance Limited(ABFL).
Download Paytm (Android | iOS)
Monthly Data Of UPI Transaction From Jan-20 to Feb-23.
| Month | No. of Banks stay on UPI | Volume (in Mn) | Value (in Cr.) |
|---|---|---|---|
| Apr-23 | 414 | 8,898.14 | 14,07,007.55 |
| Mar-23 | 399 | 8,685.30 | 14,10,443.01 |
| Feb-23 | 390 | 7,534.76 | 12,35,846.62 |
| Jan-23 | 385 | 8,036.89 | 12,98,726.62 |
| Dec-22 | 382 | 7,829.49 | 12,82,055.01 |
| Nov-22 | 376 | 7,309.45 | 11,90,593.39 |
| Oct-22 | 365 | 7,305.42 | 12,11,582.51 |
| Sep-22 | 358 | 6,780.80 | 11,16,438.10 |
| Aug-22 | 346 | 6,579.63 | 10,72,792.68 |
| Jul-22 | 338 | 6,288.40 | 10,62,747 |
| Jun-22 | 330 | 5,862.75 | 10,14,384 |
| May-22 | 323 | 5,955.20 | 10,41,506 |
| Apr-22 | 316 | 5,583.05 | 9,83,302.27 |
| Mar-22 | 314 | 5,405.65 | 9,60,581.66 |
| Feb-22 | 304 | 4,527.49 | 8,26,843.00 |
| Jan-22 | 297 | 4,617.15 | 8,31,993.11 |
| Dec-21 | 282 | 4,566.30 | 8,26,848.22 |
| Nov-21 | 274 | 4,186.48 | 7,68,436.11 |
| Oct-21 | 261 | 4,218.65 | 7,71,444.98 |
| Sep-21 | 259 | 3,654.30 | 6,54,351.81 |
| Aug-21 | 249 | 3,555.55 | 6,39,116.95 |
| Jul-21 | 235 | 3,247.82 | 6,06,281.14 |
| Jun-21 | 229 | 2,807.51 | 5,47,373.17 |
| May-21 | 224 | 2,539.57 | 4,90,638.65 |
| Apr-21 | 220 | 2,641.06 | 4,93,663.68 |
| Mar-21 | 216 | 2,731.68 | 5,04,886.44 |
| Feb-21 | 213 | 2,292.90 | 4,25,062.76 |
| Jan-21 | 207 | 2302.73 | 4,31,181.89 |
| Dec-20 | 207 | 2,234.16 | 4,16,176.21 |
| Nov-20 | 200 | 2,210.23 | 3,90,999.15 |
| Oct-20 | 189 | 2,071.62 | 3,86,106.74 |
| Sept-20 | 174 | 1,800.14 | 3,29,027.66 |
| Aug-20 | 168 | 1618.83 | 2,98,307.61 |
| July-20 | 164 | 1497.36 | 2,90,537.86 |
| June-20 | 155 | 1336.93 | 2,61,835.00 |
| May-20 | 155 | 1,234.50 | 218,391.60 |
| Apr-20 | 153 | 999.57 | 151,140.66 |
| Mar-20 | 148 | 1,246.84 | 206,462.31 |
| Feb-20 | 146 | 1,325.69 | 222,516.95 |
| Jan-20 | 144 | 1,305.02 | 216,242.97 |
(Source: NPCI)
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