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written by | September 16, 2022

Google Pay Vs PhonePe: Which One Works Better For You?

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Google Pay vs PhonePe are two mobile payment apps available in India, But which is superior? Both apps share the same objective of letting users pay using their phones; however, each has unique characteristics and functions that make the two apart. Find out more about the functions offered by Google Pay and PhonePe to determine which mobile payment application you should use to make the next time you shop!

Did you know? PhonePe and GPay are not Indian companies. The first is owned by WALMART and the second by Google, both American companies.

Google Pay vs PhonePe

If you're interested in mobile payments, you might be wondering about Google Pay and what PhonePe is. These are two digital wallets, both of which permit users to pay with their phones. 

GPay is a feature of the Google Wallet app and can be used to make in-app and online purchases. PhonePe is a standalone app that allows you to pay at shops online and offline and transfer funds with other PhonePe users.  

Also read: Offers on Credit Card Bill Payments - Cashbacks, Rewards Points & More

Google Pay features include the possibility of storing multiple cards in a single file, which makes it simple to access them during shopping, discover the location where your card is accepted through scanning a barcode or entering an address into the app or a password. You can also lock your card if it's stolen or lost to ensure that no fraudulent transactions are made, and you'll be notified about any suspicious activity on your account. 

It is among the apps that offer wonderful Google Pay features available to users. You can download it from the Google Play store and link your phone number and bank details to make bank transactions. You must select your security pin of six digits when making any transaction. It also allows you to earn cash by inviting friends. If your friend makes any transactions using you as a referral, you'll receive a commission directly to the bank account that you have registered.

Features of the Google Pay

  • A secure and quick method to transfer money and receive it
  • GPay users can use the service's assistance to pay energy bills such as water, gas, and many more.
  • Google pay provides a variety of cashback and rewards benefits to its users.
  • If you're struggling with financial difficulties, you could take out an advance loan using Google Pay.
  • The app is available for commercial purposes, it is easy to integrate, and there is no requirement to pay fees.

Features of PhonePe

PhonePe has a simple but appealing interface as well as numerous cashback deals for its customers. The payment app was developed and released through Flipkart, powered by Yes Bank. With the assistance of PhonePe, it is possible to send and receive money through a bank account, add money to your accounts, and pay for recharges and bill payments. 

It's safe and secure, it can meet all your banking needs, and it is more efficient than Internet banking. You don't have to keep track of details about your bank account, account names, bank location, IFSC codes, and different banking information. It is easy to perform quick bank transfers using BHIM UPI with your mobile number or your payment ID, which is your VPA (Virtual payment address)

  • It is simple to charge up your mobile phone and DTH link. 
  • UPI allows users to send money. 
  • You can use UPI to pay off your credit card and utility bills.
  • Users could use PhonePe to connect their favorite foods, travel groceries, buy groceries, and other apps without needing to download them.
  • You could also put the money in tax-advantaged funds.
  • Pay in physical shops and stores; you can earn cashback or rewards for each transaction you plan to conduct. PhonePe provides higher cashback percentages than other UPI applications.

Five Safety Tips You Should Know While Making a UPI Payment.

  1.  Do Not Share Your UPI Pin.

The most important safety suggestion is to keep your UPI account and address secure. You should never divulge your UPI ID or address to anyone, and your UPI account could be anything from the number on your cell phone, the QR code, or a Virtual Payment Address (VPA). 

  1.  Set a Strong Screen Lock

You must establish a solid screen lock for all payment or financial transaction applications. If you're using GPay, PhonePe, Paytm, or another platform, it's essential to establish a strong PIN that doesn't include your birth date, number of mobile numbers, or any others. If you are unsure whether the authenticity of your PIN, then change it immediately.

Also read: What Is a Deferred Payment? Meaning, Example & How to Use Deferred Payment

  1.  Don't Click Untrusted Links or Make Calls

UPI scams are a typical method used by hackers to entice users. It's important to know that hackers usually offer links or phone calls asking users to download an external application to prove their identity. It is not advisable to follow these links or share personal information like PINs or other details data with anyone. Banks do not require PINs, OTP, or any other information about your personal, so anyone who requests such details in a text message or phone call is likely to take your personal information and cash. Be vigilant when dealing with such calls or messages.

  1.  Avoid Using Multiple Applications

It is suggested to use at least one UPI and an online payments application. You should not rely on only one digital payment application. There are a variety of digital payment applications that support UPI transactions. Therefore you should determine which offers better benefits, like cash back and rewards, and then decide accordingly.

  1.  Update the UPI App Regularly

This is the case for all applications. All apps, including UPI payment applications, must be updated to the latest version, as the latest updates offer an improved user interface and brand new features and advantages. Updates usually also include bug fixes. Upgrading apps to the most recent version can protect your account and is less susceptible to security attacks.

Feature Comparison

When it comes to selecting an app for mobile payments, There are a variety of options to choose from. Google Pay vs PhonePe is two of the most well-known options. But which is the better option? Let's examine the key features and check out how they stack up. 

Google Pay allows you to save your card data in a secure wallet that can be accessed via any Android device with NFC capabilities. It is also possible to store other types of identification, such as a ticket for events, boarding passes, and reward cards, on your smartphone. 

The PhonePe includes its own wallet, which allows users to make transactions of up to Rs. 10,000. A person can use Google Pay to request money from some other person. This feature is also accessible on PhonePe, although users may only request money from non-PhonePe users. 

What are the other advantages that come with Google Pay vs PhonePe? Google provides various security features, such as sending notifications when you've been identified as a suspect transaction or when you have attempted to access your phone without your permission. You can also remotely wipe or lock your phone if it is taken or lost!

Speed & Security

In the case of digital payment, security and speed are crucial. Google pay or PhonePe, which is safe? Let's have a look. Google Pay features like cash back and supports offline payments that PhonePe does not have. In addition, while GPay might offer more protection than the other options because you can shut down your account remotely if the phone you're using goes missing, PhonePe provides tap-to-pay functionality to all phones that are available in India and also can make transactions with any bank within India regardless of the location where the user lives. If you're an Indian resident and would like the capability to purchase through various ways such as PhonePe, it could be the best option for you.

Which Payment App to Choose

Google Pay

GPay is Google's online digital money and payment system. It allows you to make in-app or tap-to-pay purchases from your smartphone. You can also transfer money to relatives and friends or make donations to charities.

PhonePe

PhonePe is an Indian digital wallet that can receive and send payouts and bill payments. You must sign up on the app before using it; this means that information about your card is stored safely and not handed to third parties during the registration process.

Also read: Credit Card Bill Payment - What are Different Methods to Make Credit Card Bill Payment

Conclusion

If you're wondering which is better between Google Pay and PhonePe, the answer is that it depends on which digital payment app you prefer. We have provided every detail about both digital payment platforms.

Follow Khatabook for the latest updates, news blogs, and articles related to micro, small and medium businesses (MSMEs), business tips, income tax, GST, salary, and accounting.

FAQs

Q: Do I have to use Google Pay and PhonePe simultaneously?

Ans:

You can utilise PhonePe to transfer funds via PhonePe and to Google Pay by entering their Google Pay UPI ID. Open the PhonePe application on your phone. Utilise a fingerprint or PIN to sign in to the app. Choose "To account" from the home screen "To Account" option from the PhonePe home screen of the app.

Q: Could GPay be compromised?

Ans:

Mobile wallet apps have gained interest over the last two years. Google Pay transactions are processed by regular credit and debit cards. Over 50,000 websites use Google Pay UPI as their payment method. This means that fraudsters have plenty of chances to entice users and take their cash.

Q: Why is PhonePe the best?

Ans:

The payment app PhonePe is extremely popular because it's easy to use and faster in processing merchant payments than the Paytm application. Since the PhonePe application offers an option to use QR codes for its customers, it has the QR code on the app's home page.

Q: Google pay or phonepe, which is safe?

Ans:

PhonePe provides multiple options to sign in, while Google Pay automatically moves on to verifying mobile numbers when the user has added their phone number. One could argue that Google's method is swift and secure. But, to my mind, PhonePe, giving multiple options for login, is better in handling errors.

Q: Is PhonePe more secure in comparison to Google Pay?

Ans:

Both payment platforms are both secure concerning application consent. In conclusion, If you're asking about the best option between Google Pay and PhonePe, it depends on which method you enjoy the most.

Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.
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Disclaimer :
The information, product and services provided on this website are provided on an “as is” and “as available” basis without any warranty or representation, express or implied. Khatabook Blogs are meant purely for educational discussion of financial products and services. Khatabook does not make a guarantee that the service will meet your requirements, or that it will be uninterrupted, timely and secure, and that errors, if any, will be corrected. The material and information contained herein is for general information purposes only. Consult a professional before relying on the information to make any legal, financial or business decisions. Use this information strictly at your own risk. Khatabook will not be liable for any false, inaccurate or incomplete information present on the website. Although every effort is made to ensure that the information contained in this website is updated, relevant and accurate, Khatabook makes no guarantees about the completeness, reliability, accuracy, suitability or availability with respect to the website or the information, product, services or related graphics contained on the website for any purpose. Khatabook will not be liable for the website being temporarily unavailable, due to any technical issues or otherwise, beyond its control and for any loss or damage suffered as a result of the use of or access to, or inability to use or access to this website whatsoever.