Google Pay (Tez) is a UPI-based payments application launched by Google in 2017. You can use this app to send or receive money to anyone who is registered with UPI. Google Pay is very useful when making cashless as well as card-less transactions, be it with a shopkeeper or to simply send money to a friend.
No, Paytm is the mobile app, while UPI is the platform through which transfer of money takes place from one account to another.
3.Paytm
- Open the Paytm app.
- Click on the “BHIM UPI†section at the topmost bar on the homepage.
- You will find your UPI ID in the first section of the page along with QR code. The UPI ID will be your phonenumber@paytm (as mentioned above)
Find your UPI ID on Google PayIn the top right, tap your photo.Tap Bank account. Tap the bank account whose UPI ID you want to view. You will find the associated UPI ID under "UPI IDs".
Open iMobile Pay, click on 'UPI Payments' and go to 'Pay to Contact' Enter the mobile number of the person you wish to send the money to and select the UPI ID. Enter the amount, click on 'Submit' and enter your 4-digit PIN to complete the money transfer.
Paytm does not have the right to reverse the amount of a successful transaction without the consent of the receiver. Wallet to wallet transfers are processed instantly and the amount is added to the receiver's wallet immediately.
Your MPIN is a 4 or 6 digit passcode, stored securely with NPCI (National Payments Corporation of India). Your account details and MPIN is safe with NPCI and is authenticated with secure servers whenever money is deducted from your account using Paytm UPI. Transaction processed in real-time.
You are free to edit your Paytm BHIM UPI ID. You just need to click on your auto-generated Paytm BHIM UPI ID to set your custom ID. You can link any of your Savings bank accounts with this unique Paytm BHIM UPI ID and start sending & accepting money.
As per the RBI guidelines, you can hold a maximum of ₹2 lakhs in your Paytm Payments Bank account at end of the day. This limit is imposed on the sum of your wallet and Savings Account balances.
Key Highlights
- Delete Paytm UPI Account. Login to Paytm application and tap on UPI section.
- Deregister UPI. Next screen you can see your UPI account (Linked bank account and UPI ID).
- Confirm selection. Now confirm your request and tap on OK.
Both the sender and the receiver needs to complete their KYC (Know Your Customer). In case, any one of the parties have not completed their KYC, the transaction would not happen. Despite having completed the KYC process, to send an amount higher than Rs.
At GoogleForIndia event, Google has introduced Google Pay formerly known as Tez. Using Google Pay, you can also add money to digital wallets such as Paytm, Amazon Pay, etc. from your Bank account. If you are a Google Pay user and would like to send money from Google Pay to your Paytm wallet, follow this tutorial.
Tap on Add Money: After you have entered the amount you want to add to your paytm wallet you can now tap on the add money option present just below the amount box. 11. In this case, as we are going to transfer money from Phonepe to Paytm. Therefore, we will choose the BHIM UPI option.
"All your money is completely safe, and you can continue to enjoy your Paytm app as normal," the company tweeted from its official handle to assure millions of its users. The company has also assured its wallet, banking, gold and UPI services are safe, secure and operational.
Top 7 Best UPI App in India 2021
- Google Pay.
- PhonePe.
- Paytm.
- BHIM App.
- Amazon Pay.
- BHIM SBI Pay.
- MobiKwik.
So, when it comes to the user interface, Paytm is the clear winner. Starting with Google Pay, you don't get a wallet facility like the other two apps, so the money gets deducted directly from your bank account during payments.
In terms of usage, Paytm is currently more reliable. Its servers seem more robust and there are fewer bugs. BHIM, on the other hand, is having some teething issues.
PhonePe overtook its arch-rival Google Pay in terms of UPI transaction volume and value in December 2020 and the home-grown digital payments firm has since maintained its numero uno status. In the top five UPI apps, Paytm Payments Bank holds the third position followed by Amazon Pay and Yes Bank apps.
