Will Paytm continue to offer free UPI transactions

Top 10 Paytm Alternatives That You Should Use

Paytm is one of the largest and fastest growing internet based services in India. After the demonization, the commitment of small and medium-sized businesses has emphatically led to it becoming the next best thing. Now chances are that most of the stores you visit will keep Paytm as a payment option. In addition, Paytm offers a variety of services on its platform, including payments, money transfers, shopping, top-up options, bill payments, and film, bus and flight tickets. Heck, it even sells digital gold on its platform. Basically, Paytm has become a giant that does almost anything and everything. However, in its endeavor to grow fast and have it all, it is no longer the best class in most of its activities. For every service there is something that makes it better, and today we are focusing on them. Here are the top 10 Paytm alternatives you can use today:

Paytm alternatives

Before we start I just want to make one thing clear. At the time of this writing, there is no other service that even comes close to Paytm, given just the sheer categories of services it offers. If you are looking for a complete solution for everything, Paytm is better suited for you as you have no other option. As already mentioned, there are apps for all of the services offered by Paytm that are better for them. So, if you can handle multiple apps for the best experience and deals, this list is especially for you.

Mobile top-ups, billing and dealer payments

1. Mobikwik

If you're looking for a Paytm top-up and billing alternative to Paytm, Mobikwik may be the closest you will find. Mobikwik can do a lot of things that Paytm does. For example, you can keep money in the wallet and use for bill payments, top-ups, and merchant payments . In fact, its reach has grown steadily since the foray into the merchant payments segment. The number of stores that accept Mobikwik as a form of payment can rival that of Paytm. When it comes to mobile top-ups and bill payments goes, Mobikwik beats Paytm with its fluid and clean interface and instant transactions .

In addition to the above services, Mobikwik now also supports booking bus tickets. However, Paytm continues to lead this segment as it also gives users the ability to book airline tickets and bus tickets. One thing I like about Mobikwik is that, besides partnering with physical stores, it has slowly integrated with many online service providers. For example accept services like Swiggy, IRCTC, 1mg, Ebay and Dominos now also Mobikwik's wallet . I've been a Mobikwik user for a few years and love the new range. The service has never failed me and I prefer to use Paytm wherever I can.

Platforms: Website (Android, iOS)

2. FreeCharge

FreeCharge is the service that made online top-ups and bill payments popular online. This was achieved by providing a simple and smooth process along with various coupons that could be used at its partner stores to get discounts. When I first used FreeCharge, I immediately fell in love with the service, that is, until Snapdeal acquired it for $ 400 million . Since then, the service has seen a crash as it strayed from its original vision. Initially, FreeCharge was a service where you could get the best deals while paying your bills or doing mobile charges, nothing more. What FreeCharge still pays in its favor is ease of use .

I have tons of transactions with FreeCharge (for mobile top-ups and bill payments) carried out, and not a single one of them has failed . Every recharge I did was successful and instant. It also includes the most up-to-date version of the various plans and prices provided by the airlines for each state. If you are looking for your perfect plan (prepaid or postpaid), FreeCharge is your search. Also, FreeCharge has started supporting payments for merchants, and while this is not as widespread as Paytm or Mobikwik, the number is slowly but surely increasing. However, these and other additional functions don't matter to me as I like to use them for mobile top-ups and bill payments.

Platforms: Website (Android, iOS)

Send and receive money

1. Telephone

Although Paytm has evolved into a payments bank to facilitate the transfer of money between its users, it lags behind in introducing the latest in mobile payment technology, UPI.

UPI or Unified Payment Interface is an initiative of the Reserve Bank of India (RBI) and the National Payment Corporation of India (NPCI) to create a easy and instant money transfer to allow between users. The best thing about this method of transferring money is that Money flows directly between the bank accounts of the users (sender and recipient) . There is no digital wallet in between. In addition, the users do not need to enter the recipient's account details, they can simply transfer the money using their cell phone number which is linked to their bank accounts.

Since you are not using an e-wallet, there is no limit to the total amount you can transfer (with Paytm this is INR 1 lakh / month). UPI also supports two-factor authentication which is more secure. In short, UPI is better than e-wallets in almost every way. If you want to send or receive money today, UPI is the best method, and PhonePe is the best app that UPI supports . Although almost all banks have released their own version of the UPI app, PhonePe is still the best of them all. First it supports multiple bank accounts . Second, the user interface is refined and easy to navigate. Finally, it also supports mobile top-ups and bill payments with lucrative cash-back offers. These reasons make PhonePe stand out from the crowd.

While you can use the government's official BHIM app to check your balance and send money, PhonePe brings you a lot more features. So if you have mainly transferred money using Paytm, PhonePe is going to be 100 times better.

Platforms: Website (Android, iOS)

2. Chillr

Chillr is another UPI-based service that allows you to send and receive money through the Unified Payment Interface. It just works like PhonePe. You can send and receive money directly from your bank accounts without using an e-wallet. Apart from that, it also does all the usual things like mobile top-ups and bill payments. The hotel, flight and bus ticket booking service will be available shortly . Chillr has built in a unique feature that allows Friends can split a bill . If you are someone who always goes out to dinner with a group of friends, you will love this feature. Basically, the guy who pays can has to split the bill in Chillr and will send a pending payment notification to all friends . Friends can repay it by authorizing the transaction with their UPI PIN. It's a small, yet nifty feature.

Platforms: Website (Android, iOS)

Mobile wallets

1. Oxygen portfolio

Oxygen Wallet is just a regular e-wallet application that works just like Paytm. However, you can not only send and receive money through the wallet services, but also directly via MMID or account number and the IFSC code the receiving party Make bank transfers . One nice thing I really like about Oxygen Wallet is that you can use it Create prepaid VISA debit cards . This is done through a partnership with RBL Bank. The prepaid VISA card you created behaves like a normal VISA debit card in every respect. There are two main benefits to creating a prepaid VISA card. First, since you are using a virtual card, your original information will not be shared with a merchant siteso that you are protected from potential attacks. Second, since the card is prepaid, even if it is compromised, you will only lose the amount that you used to create the card.

Oxygen is also a payment gateway that is accepted by almost all online merchants in India. This has allowed Oxygen to connect to these merchant sites and offer you additional benefits. With the service, you can too Create gift cards for a wide variety of retailers, including Amazon, Westside, BookMyShow, KFC, and Cleartrip . So next time you don't know what to give your loved ones, you can just send a gift card and they can buy whatever they want. If you are looking for an e-wallet application, Oxygen is the best. I love being able to create virtual VISA cards and gift cards. At the end of the day, I would always pull the Oxygen wallet over Paytm.

Platforms: Website (Android, iOS)

2. ItzCash

ItzCash is a simple e-wallet application that has all the basic functions of an e-wallet. You can top up your wallet and use it to top up your mobile device and make payments. You can receive and send money in your wallet. It supports various types of bill payment services including DTH, gas, water and electricity . If you're looking for a basic wallet application to get the job done, this is one for you. There are no frills here. It's a simple e-wallet application that is quick and reliable. The Paytm wallet has become a very complex product. If you want to go back to the easier times, ItzCash is your best bet to do so.

Platforms: Website (Android, iOS)

Shopping online

1. Amazon

Paytm has integrated an e-commerce platform in the form of the Paytm Mall. The service has evolved a lot since its inception and now offers a wide range of products. However, it is still a long way off when compared to leading ecommerce services like Amazon. Amazon has many advantages over Paytm. First is Amazon's product selection is far more than that of Paytm . Second, the services offered by Amazon (whether delivery or complaint handling) are one kilometer ahead of Paytm. All of these features are enhanced when you are a top notch member. For just INR 500 / year you get one day and two days of free shipping and access to their Prime Video services, which offer a wide range of films and TV series.

Recently has Amazon also launched its own e-wallet service called Amazon Pay Balance . Although it is in an emerging stage right now, it will undoubtedly become a great product. Amazon Pay is one of the world's best payment gateways. The integration with the wallet service in India is not a major hurdle for Amazon. Even if Amazon hasn't launched its e-wallet service, the e-commerce service outperforms the Paytm Mall. Once you've chosen Amazon's Prime Video service, it becomes a deal you can't refuse. If you want to shop online, Amazon is one of the best Paytm alternatives.

Platforms: Website (Android, iOS)

2. Flipkart

Flipkart is India's first e-commerce platform and is still alive. While most of the domestic e-commerce platform has been struggling to survive, Flipkart has emerged as the winner. Flipkart's product selection and service quality are only surpassed by Amazon. Everything you want to buy is here. Like Amazon's Prime service, Flipkart has its own Introduced F-Assured Service that promises quality products with faster delivery . In India, Flipkart is currently the market leader with a market share of 57%, when it comes to online purchases.

Flipkart also owns Myntra and Jabong, the two largest fashion e-commerce marketplace in India. When it comes to fashion, Flipkart clearly has the market dominance. As a rule of thumb, I prefer to buy electronics from Amazon and clothing and accessories from Myntra because they are the best prerequisites for doing so. Paytm has a lot to do if it is to compete with these e-commerce giants in India.

Platforms: Website (Android, iOS)


1. MakeMyTrip

As you know, Paytm recently also launched services that allow you to book flights and bus tickets on its platforms. MakeMyTrip is king when it comes to travel planning and ticket booking. You can, among other things Book flights, hotels and bus tickets . They have partnered with various hotel suppliers across India to bring the best experience to their users. Not only that, you can now plan a vacation and buy packages, handling all of your flights and hotel ticket needs in one go.

Their latest offering is intercity taxis . Now you can book taxis for all your intercity trips at really affordable prices. This is good news for anyone looking for a weekend getaway. Whether you're planning a visit, vacation, or weekend getaway, MakeMyTrip can help with it help . Their pricing is some of the best out there and their partners are really good too. This is one of the best Paytm alternatives for all of your travel needs.

Platforms: Website (Android, iOS)

2. Goibibo

Goibibo was MakeMyTrip's biggest competitor until it was later acquired. Even so, all of the features that Goibibo highlighted are still there as it still runs as a separate entity. The main reason for using Goibibo over MakeMyTrip is the cashback feature. As received at Paytm Cash back for every flight and hotel booking . This cash back is in your account as GoCash and can be used for future bookings. The cash back offers vary from time to time and sometimes you can get incredible deals here . Goibibo offers one of the cheapest prices on flights and bus tickets on the market. You should always check this before making a booking.

Platforms: Website (Android, iOS)

The best Paytm alternatives out there

As I mentioned at the beginning of this article, Paytm is the only option if you're looking for one app for everything. Most of the time, however, an all-rounder is not the best in any of their businesses, which is also the case with Paytm. If you don't want to settle for something best, you have to avail several services that are the best in their own niche. We have covered the best Paytm alternatives for the different services offered. What will you prefer Do you like a service like Paytm that has it all, or do you prefer services that do one thing but are best in their field? Let us know what you think in the comments section.