PayTM, BHIM Or Tez? Which Digital Payment App Is Best For You?

There are many of these applications out there and no matter which one you pick, you feel they’re all the same. I am talking about digital payment applications like PayTM, BHIM and Google’s Tez.

Yes, their numbers have grown over the past couple of years but that was after demonetisation hit the Indian economy with full force.

Now that you know that having a digital payment application is a must these days, we’ll try to find out which one from the three most headline grabbing apps – PayTM, BHIM & Tez – suits you best, and which app should you have on your phone.

Also read: Paytm vs Google Tez vs BHIM: The Best Digital Payment App Is...

PayTM has garnered a lot of users since its launch. It registered 200 million subscribers in February this year. That’s a big number considering the increase in number of mobile internet users with each passing day.

PayTM offers an extensive shopping portfolio and you can also make utility payments like mobile bill payments and recharge, DTH bills, Gas bills and many more.

PayTM also has its own bank called PayTM payments bank that functions like any other bank without physical cash. You can also buy gold on PayTM! I’m not kidding.

Also read: Digital Payments in India: The Race to Capture Your Wallet Begins

PayTM needs users to transfer money from their bank accounts to its own digital wallet as it doesn’t support UPI (till now). Maximum amount per transaction via PayTM is Rs 5000 and Rs 20,000-25,000 in a month.

UPI based applications like BHIM & Tez have to be directly liked to your bank account to operate. You can carry out transactions on these apps via UPI ID and IFSC codes.

The maximum amount that you can send per transaction is Rs 1 lakh and also only 20 transactions are allowed in one day.

All three apps offer rewards in the form of cashback and discounts. BHIM offers its customers rewards in the form of lotteries like the Lucky Grahak Lottery.

If you have a lot of online utility payments to make and want quick cash transfers to your buddies, PayTM is the app for you.

BHIM is a fairly good app, has an easy interface and comes with UPI integration. It works best for people who don’t want a cluttered interface and don’t want to carry cash either.

As for Google Tez, it’s almost similar to BHIM but comes with proximity payment which is pretty cool to use. Again, want quick and easy payments, Tez is pretty fast.

So while PayTM has a wide range of use, BHIM works directly from your bank account, and Tez, well, it’s just umm...Tez.

Cameraperson: Abhay Sharma
Video Editor: Ashish Maccune

(Breathe In, Breathe Out: Are you finding it tough to breathe polluted air? Join hands with FIT in partnership with #MyRightToBreathe to find a solution to pollution. Send in your suggestions to [e-mail] or WhatsApp @ [phone])