Google Pay vs Paytm

Paytm and Google Pay are two of the most popular wallet and UPI applications. They have 50+ million users and are used by businesses, normal users, etc. These two apps allow users to send, receive payments, recharge their prepaid numbers, pay postpaid/gas/electricity bills, etc. Below, we’ve compared the two applications.

Paytm vs Google Pay

UI and performance

Paytm vs Google Pay

Paytm was a very bloated app until 2021. One97 removed the bloat from the application earlier this year. The app is now sleek and beautiful. Google Pay hasn’t changed much when it comes to the user interface but the app suffered from UPI connectivity related issues in the past. The problem has been now fixed.

Google Pay vs Paytm

GPay offers a great experience by showing the contacts to which you send payments or contacts from which you collect payments often. It shows the services you use often on the main interface. Paytm doesn’t show the services you use often on its home interface. You can access Paytm on the desktop. Google hasn’t launched the desktop version of its GPay application yet.

Cashback offers

The primary reason for the surge in the popularity of Google Pay and Paytm is the cashback offers they introduce for their users on regular basis. So let’s have a look at the cashback offers the two applications:

Paytm cashback

Paym, at one time, offered good cashback to the users when they recharged their phone numbers, paid their broadband/gas/electricity bill, etc. Now, it offers cashback, cashback points, and vouchers. With vouchers, you can get discounts on third-party services. For example, when I transferred 9000 Rs with Paytm, the app offered a Rummy bonus voucher of 6000 Rs. Although the cashback points convert to real money, the amount is very small. The “up to” condition of cashback is the biggest downside of Paytm. Suppose you’ve transferred an amount of 10000 Rs with the Paytm UPI application and you receive a bonus voucher or cashback. If you don’t play rummy or use the service for which you’ve received the voucher, then the voucher is useless. However, if you play rummy, you’ll get bonus points within 1 to 6000 Rs. Similarly, Paytm partners display the message “cashback up to 100” when you buy something from Paytm. You’ll get a cashback of more than Rs 10 only if you’re lucky. If you spend a big amount on a grocery delivery site is it worth using Paytm (or any other UPI/wallet app) if you get a cashback of Rs 1 only?

Google Pay (GPay) cashback

Google Pay has an offer section that shows a list of offers you can get. Like Paytm, GPay also offers a random cashback amount on recharges, money transfers, etc. Sometimes, GPay shows the cashback amount in a range. For example, it may offer cashback within 45 to 200 when you recharge your DTH, mobile phone, pay bills, etc N times with it.

Pay with a credit/debit card

Until 2020, GPay supported UPI payments only. Now, it lets you pay bills, recharge numbers, et with credit as well as debit cards. Paytm also supports payments with credit or debit cards.

Stock trading

Paytm allows users to buy and sell stocks from its platform. Google Pay doesn’t have the stock trading feature built in. It will show a list of online brokers. You must tap on the broker’s name and create an account/log in to your trading account to buy/sell stocks, commodities, etc.

Notifications

Paytm shows notifications several times a day. Google Pay doesn’t display as many notifications as Paytm.

Covid vaccine slot finder tool.

Paytm ships with the vaccine slow finder tool. This tool displays notifications on the phone when a slot is available. To use this feature, you must log in to Cowin site with the application.

Credit score

You can check your credit score for free with the Paytm application. GPay doesn’t offer this feature.

Membership

Paytm has launched a membership program called Paytm first. The membership costs Rs 799 and offers benefits worth 25000 Rs. The benefits include 1000 cashback points on each transaction, guaranteed Paytm cashback, 180 Rs cashback on adding money to wallet, free Sony Liv subscription, Zee premium 6 months subscription, Eros Now subscription, and more. If you send/receive money, pay bills, recharge phone numbers often then Paytm membership can save you money. GPay doesn’t have a membership program yet.

Hotels

The Paytm application allows you to find and book hotel rooms. It also enables you to book flight and metro tickets. GPay also allows its users to book rooms in hotels. It shows a list of travel sites. You must tap on the name of the site through which you want to book a hotel room. Once you do so, GPay will open the site in its built in browser tool.

Security

GPay and Paytm are secure applications. These two apps support the fingerprint unlock feature. They also let you set a passcode. When you set a passcode, GPay and Paytm will prompt you to enter the passcode every time you try to open it.

Closing words:

As you can see above, both mobile wallet applications give you access to many essential services from their interface. They allow you to recharge your phone number, pay bills, etc and earn a reward each time the transaction is successful.

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