Best UPI Based Apps For Money Transfer

UPI Money Transfer App

Unified Payment Interface (UPI) is a revolutionary method of money transfer enabled by the banks. This mobile app-based payment system is developed by the National Payments Corporation of India (NPCI). UPI powers multiple banks accounts into a single mobile application, merging several banking features, seamless fund routing, and merchant payments into one blood. Each bank provides its own UPI money transfer App for Android, Windows, and IOS mobile platforms.

Here we introduce top 5 UPI Money Transfer App

1.BHIM

BHIM UPI is a mobile payment mode that enables you to make instant money transfer directly between two bank accounts. Additionally, you can also make payments merchants who accept BHIM UPI as a payment mode for transactions. BHIM UPI App has all the UPI features such as sending or requesting money, changing or setting UPI pin, balance check and generating QR codes etc. You can create a Paytm BHIM UPI ID at the BHIM UPI section on the Paytm app home screen. These ID will be your registered mobile number.

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2.Tez

Google Tez is a mobile wallet based on the UPI platform built by the NPCI. Unlike most other wallet Apps, it does not require money to be stored in the app to make digital payments. Tez works as an extension of one’s bank account, which means that unused money remains in the bank earning interest. Each transaction is initiated by the sender entering his UPI pin with the additional security of existing phone locks. This app is available on both Android and IOS devices. This is functionally similar to BHIM App.

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3.PhonePe

PhonePe is based on the government-backed UPI platform. Through PhonePe UPI App, you can send and receive money instantly using a VPA (Virtual Payment Address). This means you can also transfer money between two bank accounts. You can also pay directly from your bank account to both online and offline merchants. You don’t need to enter any other additional details like debit card or credit card details, an OTP etc. With this App, you can make big transactions. You are allowed to spend a maximum of Rs.1 lakh per transaction.

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4.AXIS PAY

Axis Mobile Banking App by Axis Bank provides an easy way for online recharge, shopping, prepaid/postpaid mobile bill payment, card payment etc. Axis Pay App is secured by a 6 digit app password. This app is fast enough to provide you seamless transaction experience. However, the app has more steps than most of the other UPI Apps while sending money. You must need to add an account as a contact within the app before sending money.

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5.SBI PAY

SBI Pay is a payment solution that allows account holders of banks participating in UPI to send and receive money from their smartphones with a VPA which is the identifier. No additional details are required to be used other than the VPA. This app provides the flexibility of making payments at your convenience on all 365 days of the year.

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You can download a UPI App of your choice and install. This need not be issued by your own bank. You can use any UPI app issued by any bank or company and link your bank account to it.

Updated: August 7, 2018 — 9:25 am

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