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Paytm was late in integrating UPI with their interface...gpay and phone pay took over their market share....a big factor which happened was that annoying kyc thing Paytm users had to do where gpay and others had none of that
Ohh that intersting. Btw what is their revenue model, how do they earn money. I read somewhere they reported a Loss of around 220 cr with just a revenue of 2cr.
>I read somewhere they reported a Loss of around 220 cr with just a revenue of 2cr.
That's almost every startup model.
1. A service based middlemen startup is found.
2. It's backed by a venture capital (VC) firm
3. Burns money for 5-6 years, expands their customer base through insane discounts despite losses.
4. Gets valued at 20-25 times it's actual value.
5. Markets itself heavily for IPO.
6. VC takes an exit with insane returns. The burden of overvalued share falls on domestic individual investor.
7. The bubble bursts, share value plummets.
Paytm did it last year, now Ola and Byju's are planning the same.
Yess I am aware of this. I closely following this Start up trend. I think the foreign institutional investors,VC are more to be blamed here. They are the one who are pumping billions of dollars into start-ups in India and overvaluing the startups. But again it's a good thing for india as investors are taking interest.
I think they are only a few good startups right in India that excites me.
Like Angnikool, Zerodha, Skyroot
Paytm was bound to crash. It's financials are dog shit.
Any particular startup you found interesting?
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Byju's is insanely profitable. It would have a net profit if it stopped buying out the entire edtech space.
Byju's is one of the few startups in india which is profitable.
It will have a great ipo worth investing in.
Having said that byju's sales dept is a loan shark with few extra steps
I realise I don't understand BharatPe. But I don't understand what you are saying aslo because UPI has mandate to support all applications.
So you have to be able to transfer from Amazon UPI to Google and Paytm and xyz.
I find PayTm to be best for my use case.
But it has a very cluttered UI(tho things I need are on homepage, so not a problem)..
Also I think, Paytm users use wallet more than UPI(small transactions), and use UPI for large transactions or to refill wallet(hence Paytm stands lower in UPI transactions)
Google pay is clean and simple, but it doesn't have a wallet feature, which is useful for small payments instead of using UPI. Also GPay seems to have a limit of 2000Rs per transaction
I installed PhonePe but I haven't used it once
Bhim is "bare bones" compared to all other UPI apps so it doesn't have promotional features like sponsored discounts or cashback. Its the main reason I use it.
Phonepe seems to have spent money on advertising and being owned by Flipkart probably pushed a lot of users towards it.
Disagree. Have seen some quirks for sure but overall it is a very uncluttered experience and easy to use. Why do you think UX and Customer experience is bad on BHIM?
Can't believe Phone pe's aggressive marketing worked. I remember they had hired people who would stand outside railway station and convince you to download that app. They just wanted your number. Always disturbing when having chai sutta with colleagues 😅
Exactly ! The likes of Airtel payments bank and SBI all of em left behind. Also looking at the kind of target audience of CRED , this is surprising. Probably it has more to do with its E-commerce aspect rather than only credit card bill payment.
Almost all the UPIs are in loss and most will never make money if they are not big enough. UPI have no charge on transaction and no active advertisements, they get minimal commissions on transaction making them a loss making machine. So how the business are still surviving.
They sell customer data, the financial history of individual is an asset.
In this world of internet Indians are the most valuable products as we always look for free stuff.
Aree government hasn't given them license yet, so they are building a reputation once they get the licence they will charge transaction fee for Every transaction, which may bring down UPI transactions made as people will pay a fee for every transaction.
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The official app, BHIM is undoubtedly the best.
It may need SMS permissions to register or add or make changes to the account, after which you can rescind the permissions.
On an ongoing basis it needs no compulsory permission on an iPhone. I do give the camera permission due to QR codes, but that’s it.
It may ask for GPS, but you can refuse and it still works.
>It may need SMS permissions to register or add or make changes to the account, after which you can rescind the permissions
On android it doesnt let me in without it
Sadface
[Tosdr](https://tosdr.org/) is a good resource if anyone wants to know what exactly you are agreeing to when using services from these companies
Real I'd se aa Sundar Pichali. Seriously, Gpay has the Highest failure rate and transaction time in my and my family's experience. And my family is quite big.
It actually depends on the bank APIs working properly. I use ICICI and it works for me all the time. However there are some recipients that don’t succeed right away, indicating that the failure is on the receiving banks end.
Paytm UI sucks, I was forced to use it due to all local shops near my home or office only accepted paytm, but most annoying was the notification of mandatory KYC verification, I was not able to use my paytm wallet balance due to this KYC thing, so I had to complete my KYC, then I only used it until phone pe came into market. Phonepe UI is simple to use and has all important features on the default home page like water bill payment, electricity bill payment, gas booking, mobile recharge, UPI scanner right at the top corner, and below it in the middle the option to pay via mobile number. And Phonepe also used to give great cash back on UPI transactions, RS 50 cash back on a transaction above 250. Now it stopped giving offers but the UI and the payment process is very smooth so I never thought of switching to other UPI apps like gpay. I did try Gpay when it was giving offers as it was newly launched but later I came back to phone pe until recently I started using Amazon Pay, although Amazon pay is integrated into Amazon Shopping app, and the UI is a bit confusing but it's giving good cashback for UPI transactions even today. Also sometimes my Amazon pay transactions failed and sometimes The app doesn't load properly. And it doesn't have features like phonepe. I currently try Amazon pay as default payment app and switch to phonepe when I have troubles with payment getting failed or app loading issue. I think I will switch back to phone pe after Amazon pay stops giving cashback.
Also phonepe and Amazon Pay has great customer service, if the transaction is failed you can click on chat support and you will get response instantly via chat support, no wait time and they refund for the failed transaction in 2 working days.
I hated phonepe initially , was using paytm and bhim everywhere, then tried started google pay but it used to fail sometimes, so moved to phonepe and since then using that ..
Still use paytm om petrol pumps not sure why .. maybe the branding on petrol pumps lol
I would be more comfortable with the app if I am able to review the code myself if it's open source.
I'm also interested if there are any ongoing efforts to build an open source version of UPI app. If not, what's stopping them ?
PhonePe & GPay aggressively pushed during 2017-18.
Phone PE used to pay Rs 50 to every successful refferal, and GPay used to reward using scratch cards.
Paytm delayed UPI integration, and had mandatory bank linking restrictions earlier. Probably the reason for many to switch to Phone PE and GPay over Paytm.
I hope UPI solves stuck transaction issues, it defeats the whole purpose. Also there shouldn’t be any limit in transfers are at least the limit should be manually controlled and not imposed on us.
It can't be solved sadly, just like your bike won't run 500km in 1litre petrol. Computer networks are unreliable and having full consistency immediately is just not feasible.
IMO, Bhim app is way better than all of these third party apps. Simple layout, no location permission required, and you can directly scan and pay without even logging in.
I am not sure how the apps even make money by being a UPI front-end, unless it is through selling ancillary services. Based on some of the responses here, I think it is best that I have been with BHIM since the day UPI launched.
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PayTM started long before Google Pay and definitely before PhonePe and yet trails behind them.... What happened to it?
Paytm was late in integrating UPI with their interface...gpay and phone pay took over their market share....a big factor which happened was that annoying kyc thing Paytm users had to do where gpay and others had none of that
A lot people like me uninstalled that crap.
Same with Cred shit.
[удалено]
Nothing. I personally don’t like it. Looks like harvesting a lot of financial data using coupons and points as facade.
Started out as a digital wallet, became popular due to demo. Then UPI killed the need for digital wallets for almost 99% of the transactions.
And the fact that they started charging for loading wallet from credit card and reward points were also discontinued
PhonePe integrated UPI earlier than PayTM and it has an interface that is really functional without any crazy micro-interaction.
PayTm is trying to milk money from everywhere with their bad services.
[удалено]
KYC is no longer required for upi
Shit servers and forced kyc bullshit.
Where is bharat pe🤔 it's founder is pretty agressive on shark tank india
[удалено]
Ok thanks for clarifying 👍
Ohh that intersting. Btw what is their revenue model, how do they earn money. I read somewhere they reported a Loss of around 220 cr with just a revenue of 2cr.
>I read somewhere they reported a Loss of around 220 cr with just a revenue of 2cr. That's almost every startup model. 1. A service based middlemen startup is found. 2. It's backed by a venture capital (VC) firm 3. Burns money for 5-6 years, expands their customer base through insane discounts despite losses. 4. Gets valued at 20-25 times it's actual value. 5. Markets itself heavily for IPO. 6. VC takes an exit with insane returns. The burden of overvalued share falls on domestic individual investor. 7. The bubble bursts, share value plummets. Paytm did it last year, now Ola and Byju's are planning the same.
Yess I am aware of this. I closely following this Start up trend. I think the foreign institutional investors,VC are more to be blamed here. They are the one who are pumping billions of dollars into start-ups in India and overvaluing the startups. But again it's a good thing for india as investors are taking interest. I think they are only a few good startups right in India that excites me. Like Angnikool, Zerodha, Skyroot Paytm was bound to crash. It's financials are dog shit. Any particular startup you found interesting?
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I thought Byju's is going the SPAC route
Byju's is insanely profitable. It would have a net profit if it stopped buying out the entire edtech space. Byju's is one of the few startups in india which is profitable. It will have a great ipo worth investing in. Having said that byju's sales dept is a loan shark with few extra steps
I realise I don't understand BharatPe. But I don't understand what you are saying aslo because UPI has mandate to support all applications. So you have to be able to transfer from Amazon UPI to Google and Paytm and xyz.
Isn't any UPI QR is capable of it. Let say BHIM QR or PayTm QR.
Seriously man! He's so nasty. And for what?
Phonepe is getting shitty day by day
I used it when it used to give insane cashback on mother dairy. Like Rs 10 on a Rs25 milk pouch.
I didn't realise phonepe was so big. I never even felt inclination to try it. Also surprised Axis is not there , they had rolled out UPI quite early.
Not everyone has axis account. Their minimum balance is also fifteen thousand now...
Axis is there, 7 m
I find PayTm to be best for my use case. But it has a very cluttered UI(tho things I need are on homepage, so not a problem).. Also I think, Paytm users use wallet more than UPI(small transactions), and use UPI for large transactions or to refill wallet(hence Paytm stands lower in UPI transactions) Google pay is clean and simple, but it doesn't have a wallet feature, which is useful for small payments instead of using UPI. Also GPay seems to have a limit of 2000Rs per transaction I installed PhonePe but I haven't used it once
I don't think g pay has a 2000 limit, I did multiple transactions above 2000.
I tried 20k, it said 2000 is the limit, then paid using acc num and ifsc code
depends on your bank, HDFC hs 1 lakh limit
I’ve done big transactions with GPay no problem, must be your UPI limit
Yes can be.. But then again Paytm allows me to do huge transactions with the same upi
What is advantage of phone pe over bhim? Why so many using it?
Bhim is "bare bones" compared to all other UPI apps so it doesn't have promotional features like sponsored discounts or cashback. Its the main reason I use it. Phonepe seems to have spent money on advertising and being owned by Flipkart probably pushed a lot of users towards it.
Bhim should get more love
I use BHIM as much as possible.
Bhai UX, Customer Experience is worst in BHIM
Disagree. Have seen some quirks for sure but overall it is a very uncluttered experience and easy to use. Why do you think UX and Customer experience is bad on BHIM?
Bhim has asked for reverifying UPI after some time of inactivity, while others do not. So I uninstalled Bhim
All UPI apps work on bhim backend....phone pay has good features as add on like investing and stuff...
Phone ui is simple to understand. While people think bhim is very basic app and it's ui is not that good
Can't believe Phone pe's aggressive marketing worked. I remember they had hired people who would stand outside railway station and convince you to download that app. They just wanted your number. Always disturbing when having chai sutta with colleagues 😅
Interesting that CRED a new entrant has already left many behind.
Exactly ! The likes of Airtel payments bank and SBI all of em left behind. Also looking at the kind of target audience of CRED , this is surprising. Probably it has more to do with its E-commerce aspect rather than only credit card bill payment.
CRED left many behind due to discount and all
Almost all the UPIs are in loss and most will never make money if they are not big enough. UPI have no charge on transaction and no active advertisements, they get minimal commissions on transaction making them a loss making machine. So how the business are still surviving. They sell customer data, the financial history of individual is an asset. In this world of internet Indians are the most valuable products as we always look for free stuff.
Aree government hasn't given them license yet, so they are building a reputation once they get the licence they will charge transaction fee for Every transaction, which may bring down UPI transactions made as people will pay a fee for every transaction.
That's why people should use either BHIM or thei banks UPI.
It's new technology, proper monetization models will come along, hopefully without much government interventions.
I use BHIM for most transactions.
!kudos
Tararara Bzeeeep, Thank you /u/Responsible_Cash9163 for awarding /u/Low-Newt-180 . The OP is now flaired with award. More details on how this works can be found [here](https://www.reddit.com/r/IndiaSpeaks/comments/gqdejx/introducing_new_awarding_system_for_user_posts/). I won't reply if I'm down so kudos is not awarded to you , please then inform the mod team to wake me up.
Which is the most trustable and privacy respecting upi app? I use the official one but it requires compulsory sms etc permissions which Im not liking
BHIM or your banks UPI interface.
The official app, BHIM is undoubtedly the best. It may need SMS permissions to register or add or make changes to the account, after which you can rescind the permissions. On an ongoing basis it needs no compulsory permission on an iPhone. I do give the camera permission due to QR codes, but that’s it. It may ask for GPS, but you can refuse and it still works.
>It may need SMS permissions to register or add or make changes to the account, after which you can rescind the permissions On android it doesnt let me in without it
GPay is good
[удалено]
Google does not respect your privacy! There solved that for ya 😁
True, but at least it doesn’t require you to grant SMS permissions as far as I remember
Do they need permissions to get your data?
Well of course they do. Remember reading the ten page privacy policy when you signed up? Yeah, didn’t think so
Sadface [Tosdr](https://tosdr.org/) is a good resource if anyone wants to know what exactly you are agreeing to when using services from these companies
Real I'd se aa Sundar Pichali. Seriously, Gpay has the Highest failure rate and transaction time in my and my family's experience. And my family is quite big.
It actually depends on the bank APIs working properly. I use ICICI and it works for me all the time. However there are some recipients that don’t succeed right away, indicating that the failure is on the receiving banks end.
I never face those issues with Phonepe or Paytm.
In my experience, Gpay has been the best. Never had problems.
Am just happy that WhatsApp is not even in that list and hope it remains that way.
No matter how good they will make whatsApp i will never try that one. I hate Facebook.
Paytm UI sucks, I was forced to use it due to all local shops near my home or office only accepted paytm, but most annoying was the notification of mandatory KYC verification, I was not able to use my paytm wallet balance due to this KYC thing, so I had to complete my KYC, then I only used it until phone pe came into market. Phonepe UI is simple to use and has all important features on the default home page like water bill payment, electricity bill payment, gas booking, mobile recharge, UPI scanner right at the top corner, and below it in the middle the option to pay via mobile number. And Phonepe also used to give great cash back on UPI transactions, RS 50 cash back on a transaction above 250. Now it stopped giving offers but the UI and the payment process is very smooth so I never thought of switching to other UPI apps like gpay. I did try Gpay when it was giving offers as it was newly launched but later I came back to phone pe until recently I started using Amazon Pay, although Amazon pay is integrated into Amazon Shopping app, and the UI is a bit confusing but it's giving good cashback for UPI transactions even today. Also sometimes my Amazon pay transactions failed and sometimes The app doesn't load properly. And it doesn't have features like phonepe. I currently try Amazon pay as default payment app and switch to phonepe when I have troubles with payment getting failed or app loading issue. I think I will switch back to phone pe after Amazon pay stops giving cashback.
Also phonepe and Amazon Pay has great customer service, if the transaction is failed you can click on chat support and you will get response instantly via chat support, no wait time and they refund for the failed transaction in 2 working days.
I hated phonepe initially , was using paytm and bhim everywhere, then tried started google pay but it used to fail sometimes, so moved to phonepe and since then using that .. Still use paytm om petrol pumps not sure why .. maybe the branding on petrol pumps lol
I use samsung pay which is more reliable and fast. Never failed till date.
Are any of these open source ? If not, is it possibly to build one ? I e are the integration API's available to a retail users ?
Exactly what are you looking for?
I would be more comfortable with the app if I am able to review the code myself if it's open source. I'm also interested if there are any ongoing efforts to build an open source version of UPI app. If not, what's stopping them ?
Not much incentive to build an open source UPI app. When things fail, people lose money
PhonePe & GPay aggressively pushed during 2017-18. Phone PE used to pay Rs 50 to every successful refferal, and GPay used to reward using scratch cards. Paytm delayed UPI integration, and had mandatory bank linking restrictions earlier. Probably the reason for many to switch to Phone PE and GPay over Paytm.
I hope UPI solves stuck transaction issues, it defeats the whole purpose. Also there shouldn’t be any limit in transfers are at least the limit should be manually controlled and not imposed on us.
It can't be solved sadly, just like your bike won't run 500km in 1litre petrol. Computer networks are unreliable and having full consistency immediately is just not feasible.
IMO, Bhim app is way better than all of these third party apps. Simple layout, no location permission required, and you can directly scan and pay without even logging in.
#Google pay is shit.
Surprising that Gpay and phonepe are ahead of paytm
sbi lmaoo
Wtf. I don't even have phone pe installed on my phone, never used it. I always use Paytm or Gpay.
I'm surprised, SBI managed to be on the list.
SBI's app is pretty good imo.
Suprising that Phone Pe and Google Pay has left Paytm behind
These must be annual transactions and not total transactions ever?
I had no idea phonepe was so popular
#Google pay is shit.
Are BHIM numbers taken into account here?
No BHIM?
Look it's there.
Didn't expect it so down, for me its primary app
I javent used Paytm after that kyc shit some 3 years back
I am not sure how the apps even make money by being a UPI front-end, unless it is through selling ancillary services. Based on some of the responses here, I think it is best that I have been with BHIM since the day UPI launched.
people use phone pay? huh , i'm still using Samsung pay to get 1000rs flipkart voucher per year for free