PhonePe vs Google Pay: How these UPI-based payment apps work

With the increase of digital transactions in day to day life, it comes as no surprise that big brands as well as startups are working on digital payment applications and mobile wallets.

Both Google Pay and PhonePe are available on Android and iPhones. One can send and receive money but also pay utility bills, recharge metro cards, book tickets for train, flight and movies though these apps.

PhonePe was started in 2015 while Google Pay hit the market in 2017. Both the apps do not levy any banking charges and support UPI (Unified Payments Interface) transactions. Today, we take a look at how to use these apps.

Google Pay

· Open Google Pay and enter number or contact name

· Choose between pay or request

· Enter the amount and an optional message, and tap the tick mark icon

· You will be asked to key in your UPI PIN, after which the transaction will be complete.

PhonePe

· Open PhonePe, enter name, number or UPI ID

· Tap on the send option

· Key in the amount

· Click on the arrow icon on the right

· Enter UPI PIN

Even though both these apps work in a similar manner there are a few differences

1. On Google Pay a person can request money from another person. This feature is available on PhonePe too but users can request money only to non-PhonePe users.

2. PhonePe has a wallet of its own with which a user can do a transaction of up to ₹10,000. There is no wallet on Google Pay.

3. Google Pay users who are nearby can send or receive money without having each other's number. This can be done by toggling Tez mode switch.