With demonetization in India, Paytm have taken up the pace and now the alternatives to the application are coming up with the best of the features in order to capture a respectable space in the market. Paytm is an application which provides a wide verity of services, but there is no other application which can provide all the features under one roof.
Today we are going to talk about different applications which can fulfill the need of Paytm but will not be as good as Paytm due to their limited functionality. Paytm offers us UPI functionality, Mobile Banking Functionality, Mobile Wallet Functionality, Online Shopping functionality, etc. Let us have a look at the alternatives to Paytm based on the functionality.
Let us first look at the alternative to UPI functionality which is being offered by Paytm App
1. Google Pay
Google has penetrated even inside the Indian banking system with the help of Google Pay, it has been offering you cash back and offers based on the transactions you do, and hence people have started using Google Pay instead of Paytm in order to transfer money with the help of UPI, exact same functionality is offered by Paytm but there it is quite limited as there is no option to transfer the money while also have a conversation, on Google Pay you can chat with the friend or family member whom you will transfer the amount before sending in the money, this will give you the security of payment.
Another UPI based application which will help you to transfer money to one account to another without any charges. Tez is limited to a maximum of 15000 INR amount a day, and BHIM is limited to 20,000 INR amount a day as it is a government application. Paytm is available with the same functionality and they have a better amount of bank account validation, BHIM is the way each and every UPI will work hence BHIM is the best option for you. Paytm comes with a limited functionality that you cannot check the balance but BHIM and Tez can do the same with one click.
3. Oxigen Wallet
This application enables us to have a better e-wallet application which will just mimic the working of Paytm for most of the part. As here also we get the same money transfer service with the help of either a wallet or from bank to bank. We can say that this works with the help of UPI and hence will surely be using the BHIM’s interface. With Oxigen Wallet you can even create a prepaid VISA Debit Card and that can easily be used to swipe on online places. Oxygen is also a payment gateway and hence will help you at most of the places by using it to transfer money.
Another e-wallet application which along with the functionality of a wallet which is the same as the one offered by Paytm will also offer you to carry out mobile recharges and payments. This will even help you to receive and send money to your bank accounts with the help of UPI. This application is quite simple, and if you are looking for something simple and easy to use then this application is the one to go for.
Let us also have a look at the alternatives to the Paytm Travel functionality in the Paytm App.
5. MakeMyTrip MyWallet
As Paytm has also entered into the services to book and search for tickets and hotels, the same can easily be done with MakeMyTrip, although here you will be required to book with credit card/debit card else you can have used Paytm wallet on Paytm. Buying holiday packages with Make My Trip can also be done without any added issue.
Another application where you can search for your travel tickets and hotels, also it provides you better cash back offers on flights and hotel bookings which are also offered on Goibibo. The cash backs with GoCash can be used anytime in the future, but do note that this GoCash cannot be redeemed 100% hence there will always offer for you awaited but no 100% money back with those offers.
Now let us look at the alternative to the Mobile banking functionality which is being offered by the Paytm App.
7. Airtel Payments Bank
Airtel is the leading payments bank solution and is the best alternative to Paytm Payments bank. Airtel also offers a virtual debit card as against to the virtual & physical debit card which is being offered by Paytm. When it comes to Airtel Payments Bank you will have to have an Airtel SIM with you and hence you will need to have the Airtel postpaid/prepaid account. Another best thing via airtel is that there are no restrictions on the amount you put in the bank and hence you can easily put any amount you need to in the account. Also, you can open and operate the account without PAN card while on Paytm PAN Card is 100% necessary.
8. Kotak 911
This is not a payments bank solution which is being offered by Kotak. This is a mobile banking solution where you can easily open an account without even a need to visit the bank branch. With this system you can easily use the UPI & other systems, it also offers a virtual credit card as is offered by the Paytm Payments bank. The rate of interest offered by Kotak is much better when we compare that of the Paytm. The Payments bank solution by Kotak might not be the best as it is not offering the features such as Fixed Deposit feature which is exclusive to Paytm, and several other features. Do note that Kotak 911 is also a good service, and by a reputed bank hence there are people who will trust the services of Kotak 911.
Now let us have a look at the Alternatives to the Mobile Wallet functionality which is being offered by Paytm App.
If you are looking forward to an alternative for the Mobile Wallet and Bill payments thing, Mobikwik has been the best. This has been the best application available around in the market. There are a lot of similar things that you can find in Mobikwik which are similar to Paytm. Mobikwik has also gone ahead and there are many shops which have started accepting Mobikwik as a payment medium. The interface of the application from Mobikwik have been the best and much more fluid than the one you would find on Paytm, but do note that the transaction time on Mobikwik is better and instantaneous. This application also supports services such as bus ticket, air ticket, rail tickets, movie tickets, etc. Many online services such as Swiggy, IRCTC, 1mg, eBay, and even Dominos accepts the payment from Mobikwik and hence it has been the best point around.
Another great service which is targeting online mobile recharges and bill payments. With Freecharge you will be able to provide a simple and smooth process as compared to Paytm. Freecharge was occupied by Snapdeal and since then the application has been advertising about its parent company a lot, and since then it has been on a downfall. Still, Freecharge has been the easiest application available in the market to be used. Freecharge also supports merchant payment, but there are not many merchants available which are taking Freecharge as their payment medium, although you can try your luck any day.
Alternative to the Paytm Mall feature in the Paytm app.
This is a full fleshed e-commerce platform which will be competing with the Paytm Mall. Now Amazon also comes with its own wallet which is known as Amazon Pay and is a direct competitor against Paytm, but it does miss out on e-Wallet money to be used on other places, and even a virtual debit card, although most of the payments can take place with the help of Amazon Pay only. With Amazon, you can even get one-day delivery with their prime membership.
Another application which can be used by you when you are looking forward to shopping via mobile phone. With Flipkart, you can order things just as you can with the Paytm’s Paytm Mall functionality. Flipkart also has their own wallet which is known as PhonePe and it also offers the same functionality as the Paytm Wallet would on Paytm Mall, do note that with Flipkart you even get a number of different benefits which are not there on Paytm Malls.
These are some of the alternatives to the PayTM application, do let us know what all apps you have been using in the recent past, also comment the best feature you have used on PayTM so far.