Summary: Online payment applications have transformed how we use to transfer and manage our money. Check out the best online payment applications for fast, secure transactions.
In today’s digital age, the convenience and security of online payment applications have revolutionized the way we manage our financial transactions. Gone are the days of fumbling for cash or swiping credit cards; now, a simple tap on a smartphone can transfer funds instantaneously.
In this blog, we will talk about the best online payment applications available in the market. From peer-to-peer transfers to mobile wallets, we will look for everything to find the best platform that suits your needs.
| Application | Best For | Charges |
| PhonePe | Transferring Online Payments | ₹3 platform charges |
| Google Pay | Payments and Record-keeping | Between ₹1 and ₹3 |
| Paytm | Overall Best Platform | 2.5% of amount for adding money to wallet through credit card |
| BHIM | UPI payments | No transaction charges |
| Amazon Pay | Online Shopping payment | 1.95% plus taxes |
| Apple Pay | Apple devices | Zero fee |
| Samsung Pay | Card payments | Zero fee |
| Freecharge | Utility bills and recharge | Depends on the amount |
| Stripe | Receiving B2B & B2C payments | 2% fees on every transaction made. |
| CRED | Credit card payments | 1–1.5% for paying rent using credit card |
| Venmo | Splitting bills | 3% fee and 1.75% for fast bank transfers |
PhonePe is one of the most used online payment applications in India. It allows users to link their bank accounts and make payments using UPI, credit/debit cards, and wallets. Once you have linked your account, you can send money to your contacts, Banks or any UPI.
You can also shop online, pay utility bills and even invest into the stock market directly through the app. Furthermore, the UPI international feature allows users to transfer money to countries like Bhutan, Singapore, Nepal, UAE, and Mauritius.
Transaction charges: PhonePe doesn’t charge any money for UPI and bank transfers. However, it charges a small platform fee of INR 3 for bill payments.
Initially named as Tez, GooglePay was launched in 2018 and is one of the best payment apps in India. It’s a simple and secure way to manage money such as making payments, buying items, and sending money to others.
You can easily send or request money from friends or family using a mobile phone. The platform is also called “G-Pay” and it is widely accepted by merchants and outlets across the country.
You can use Google Pay online payment application because of the following:
Google Pay Charges: Google Pay doesn’t charge any amount for transactions, but it charges a nominal fee for utility bills. The fees can vary from ₹1 and ₹3 depending on the recharge value.
Paytm is one of the first online payment apps in India. It is an all-in-one platform that offers UPI, Direct Bank Transfer and E-Wallet apps. It also allows users to make all kinds of reservations for flight tickets, movie tickets, concerts, train tickets and many more, through their app.
Paytm is also famous among businesses and vendors due to its soundbox voice alert feature. Additionally, Paytm Postpaid offers emergency funds to its users with 0% interest rate for the first 30 days.
Transaction Charges for Paytm: Paytm does not charge any fees for money transfers. It charges fees if you want to add money into your Paytm Wallet app through credit card (which is 2.5% of the amount).
Bharat Interface for Money (BHIM) was launched by NPCI (National Payments Corporation of India) which introduced the concept of UPI. BHIM is specifically designed to meet the needs of the Indian demographic.
Although it is not the market leader in UPI payments market, BHIM operates effectively and is considered one of the best online payments apps in India.
Transaction Charges for BHIM: No charges from using BHIM app infra, but banks may charge for making transactions.
Amazon Pay allows users to easily pay for their purchases on websites and mobile applications using the payment and shipping details stored in their Amazon account. This service offers a secure and convenient way for users to make transactions without entering their payment information every time.
With Amazon Pay, users can make payments on third-party websites that offer the Amazon Pay option during the checkout process. Moreover, Amazon Pay has also introduced UPI payments for seamless transactions.
Transaction Charges for Amazon Pay: Amazon Pay charges a transaction fee which consists of a service tax from the merchants for transactions. The transaction fee is 1.95% plus taxes.
Apple Pay safely stores your cards and makes secure transactions using your Apple devices. It allows users to make payments in person, in iOS apps, and on the web. It works on iPhone, Apple Watch, iPad, and Mac- all with the highest level of security and privacy.
It is safer than a physical debit or credit card. Apple Pay can be locked with Touch ID, Face ID, or passcode for extra security. It is useful at any place that accepts contactless payments such as grocery stores, taxis, subways and vending machines.
Transaction Charges for Apple Pay: Apple Pay does not charge any fee.
Samsung Pay allows you to use your Samsung device to make secure transactions for various merchants. With compatibility across magnetic stripe, NFC, and MST, Samsung Pay ensures flexibility and convenience.
It allows you to make contactless payments using compatible Samsung smartphones and smartwatches. Samsung Pay is compatible with a wide range of payment types and is a versatile and convenient mobile payment solution.
Transaction Charges of Samsung Pay: There are not any fees or charges to use Samsung Pay.
Freecharge by Axis Bank is a well-known payment app with over 100 million users across India. It supports multiple payment methods, including Wallet apps, UPI, and various cards, for seamless transactions.
With user-friendly interfaces and robust security measures, Freecharge is definitely a reliable online payment application. Freecharge also offers an ‘On the go’ feature where users can make payments in offline mode or with a poor internet connection.
Transaction Charges for Freecharge: For most services, such as prepaid recharges and postpaid bill payment, there are no charges. However, in case of utility bills there is a minimum fee to make this payment.
Stripe is one of the most used online payment applications in the world. It is a complete financial toolbox for businesses to accept payments from anywhere on any website or app. It comes with built-in fraud protection options.
Stripe simplifies complex financial tasks and lets you focus on building your business. With Stripe, businesses of all sizes can accept payments, manage subscriptions, and optimize financial operations effortlessly.
Transaction Charges for Stripe: Stripe charges 2% fees on cards issued in India and 3% for cards issued outside India.
CRED was basically designed for credit card payments. You can pay bills, scan & pay offline, send money, and even manage credit cards conveniently to unlock exclusive rewards. With its user-friendly interface, CRED simplifies financial transactions, enhances credit scores, and offers premium perks for better credit usage.
With CRED, you can easily manage credit cards, earn rewards, and pay bills easily with exclusive perks and cashbacks. It is one of the best apps for credit card bill payments.
Transaction Charges for CRED: CRED charges a transaction fee of 1–1.5% for paying rent using a credit card.
Venmo is a mobile payment app that simplifies settling payments with friends and family. It lets you send and receive money instantly, perfect for splitting bills, paying rent, or sending gifts.
This application is easy to use and keeps track of who owes what for managing shared expenses amongst your friend circles. Users can add a payment method like a credit card, debit card, or bank account. Venmo was founded in 2009, and later it was acquired by PayPal in 2013.
Transaction Charges for Venmo: If you pay bills using a credit card, Venmo charges a 3% fee and 1.75% for fast bank transfers.
Online payment apps allow users to link their bank account on its platform. After adding your account and cards, you can send and receive money, pay bills, and make purchases with just a few taps on your smartphones.
These apps use advanced secure encryption methods to safeguard sensitive information, ensuring a safe and seamless financial experience.
Online payment applications have made sending and receiving payments easy, enabling secure payments, low transactional charges and more. Here are some of the benefits of using online payment apps.
Apart from benefits, there are some drawbacks like security concerns, technical issues, potential for frauds etc. Here are some of the limitations of online payment apps to consider:
When choosing the right online payment application for your business, consider factors like fast and secure transfers, robust security features, multiple payment options and device compatibility.
We evaluated over 20 online payment apps available on the market and considered factors such as transaction speed, security features, user interface, customer reviews, and overall reliability.
We also conducted hands-on tests to assess the performance of each app in various scenarios, including transaction types, charges and customer support. After we were satisfied with the test, we compiled the list of best online payment applications.
In the rapidly evolving landscape of online payments, the best online payment applications listed above offer diverse options catering to various needs. From the versatility of PhonePe to the simplicity of Google Pay and the security of Apple Pay, each platform has its strengths.
As technology continues to advance, it is crucial for consumers and businesses to stay informed about the latest developments in online payment solutions to ensure they are utilizing the best options.
The choice of online payment apps depends on individual preferences and requirements. However, apps like PhonePe, Paytm, and Google Pay are some of the most used platforms with low transaction fees, security features, and compatibility with multiple devices.
The best online payment system varies based on personal and business needs. Evaluate factors such as transaction fees, security, and compatibility to determine the most suitable system for you. However, some of the best payment systems are GooglePay, Paytm, PhonePe, Stripe, etc.
Online payment methods with advanced security features, such as encryption and biometric authentication, are generally considered safe. However, UPI is considered as the safest online payment method.
For small businesses, factors such as low transaction fees, ease of use, and reliable customer support are crucial. Consider options like Paytm, Stripe, Amazon Pay, PhonePe, CRED etc. depending on your specific business needs.
The popularity of online payment methods differs from region to region. In India, for example, UPI, NEFT, and Direct bank transfers are some of the most famous online payment methods.
Introducing Xoriant Corporation, leading player in the era of product development, engineering, and consulting… Read More
The dark web is a part of the internet that isn't indexed by standard search… Read More
A strong sales pipeline is indispensable for the expansion of every business organization. It's simply… Read More
In our earlier blogs, we have already discussed website cookies. Now, we will try to… Read More
Remote desktop software, which is also known as remote access software, allows users to interact… Read More
Human resource planning is the simplest way to describe strategy for ensuring that the… Read More
