Until the first week of November of 2016, the total number of people using the online wallet system was pretty marginal. However, ever since the current government took the step of demonetization, there has been a drastic rise in usage of such kind of apps.
For example, eWallet apps like Freecharge, Paytm has seen a sudden growth in the number of users. Other than the usage of private apps like Freecharge, Paytm. The current government also took multiple initiatives to encourage cashless payments, which also lead to the launching of the BHIM app.
Now, millions of us have gotten some knowledge of the BHIM app after it got launched by our PM Narendra Modi. But how many of us have heard the name of the PhonePe. According to figures, the BHIM app seems to be much more popular than the PhonePe app. However, what many don’t know is both of them uses UPI (Unified Payment Systems), and are very similar. So in this post, we are going to put the BHIM app and the PhonePe app head to head, and do a bit of comparison to know which one you should be using.
BHIM app vs PhonePe app: Key difference
The first major difference between these apps is that the PhonePe app is developed by private firm Flipkart, whereas, the BHIM app as you all know is developed by the NPCI. Both the apps are available for Android OS. Figures suggest that currently, the number of BHIM users seems to a bit more than the PhonePe users.
BHIM app vs PhonePe app: Features differences
Let us first talk about the similarities, using the BHIM app or the PhonePe app you can transfer, request, Scan QR code to transfer money. And since both the app are based on UPI, so you can transfer money between different banks within a matter of minutes.
Now, let us get into the difference, overall the PhonePe app has a lot of features, which the BHIM app hasn’t got yet.
- Transaction Limit: We all know that you can send or receive money using both the apps, but both of them has a transaction limit yet. Using the BHIM app you can do up to transaction of Rs. 20K in a day, whereas, in the PhonePe app the transaction limit up to 30K, which is soon going to be incremented and set to 1 lakh.
- Multilanguage Support: This is kind of odd, but that doesn’t change the fact, in the BHIM app, you only get to select from two languages (Hindi or English). Now you move to the PhonePe app, apart from English and Hindi, you also get support for regional languages like Tamil, Bengali, and Marathi. The company has also stated that soon, the app will support around 10 regional languages.
- eWallet Option: If you are using the BHIM app, then you know the fact that there is no option of eWallet in it. Hence whatever transaction you do, the amount gets deducted from your bank account. However, with the PhonePe app, you do get an eWallet, which gives you the option for adding money to your wallet, thereby making transactions and recharges much faster.
- Bill Payment Options: This is another area where the PhonePe app comes out as the winner, in BHIM app you don’t option for paying Gas, Electricity, and Phone bills, but this option is available in the PhonePe app.
- Recharge Options: These days most of us either use Paytm, Freecharge or MobiWik for recharging out mobile phones, DTH, etc. Now with the PhonePe app, you get all the options in one place, but again if you move to the BHIM app then you don’t get such options.
Overall, if you are looking one app solution then at the present moment, the PhonePe app seems to be a much better option than the BHIM app. Although, the NPCI is due to bring some updates on their app, when the updates will be released there is no confirmation on that.
That’s it, hope you found this found informative and helpful. Please do share your views on both the apps by writing them in the comment section below.