BHIM app has become most popular and most used UPI app. It has perplexed all other UPI apps as well as mobile wallets such as Paytm. In this post, I am going to compare BHIM vs Paytm to find which is a better payments app.
BHIM vs Paytm: Interface
BHIM app has the best interface among all E-wallets and UPI apps. Developers have adopted minimal interface for this app. The color combination they chose is great. The home screen of the app has three blue tiles for the options on a white background. You can access all its features from its home screen. The in-app card-like transitions also look beautiful.
The interface of the Paytm is a little bit scattered. If you want to pay for a specific service in Paytm, you have to dig around to find the option. It will take some time to get used to with the interface of the Paytm. One thing I must say that the developers of the Paytm have managed to make the app beautiful. Even after having too many options listed, the interface looks eye-catchy. Paytm has used the icons beautifully.
The BHIM app has its own app password. You have to enter this password in order to access the app. Transactions are also secured with UPI PIN. You cannot complete any transaction without UPI PIN. Hence, if you lose your phone you do not need to worry about the money.
Paytm’s security mostly relies on your phone’s lock. The balance in your Paytm wallet is not safe. Paytm does not ask for any PIN or password when you pay using your wallet balance. Hence, anyone can make payments using Paytm balance. I strongly recommend setting a hard screen lock method on your phone if you use paytm.
Speed & Ease of use
NPCI introduces BHIM app as a simple, secure and fast. The app really has all these qualities. The excellently designed interface makes it very easy to use. You can make all the payments in three or four steps from its home screen. The speed of the BHIM app is also great. I have made a test payment to test app’s speed. It took less than 20 seconds from launching the app to complete the payment.
Paytm’s cluttered interface make it slightly tougher to use than BHIM app. It has a lot of different services such as mobile recharge, bill payments etc. It results in slow speed also. I have also tested Paytm’s speed. And it took around 25 seconds to complete a payment without applying any promo code. I have used its wallet balance to payment. If I would have used debit/credit cards, net banking or UPI, Paytm would have taken more time.
BHIM app is mainly a UPI app. It contains all the UPI services such as sending and requesting money. NPCI is also planning to add fingerprint and Aadhaar based payments in BHIM. Currently, BHIM has below features-
Sending money is the main feature of the BHIM app. You can send money using beneficiary’s VPA (Virtual Payment Address) or mobile number. NPCI has also introduced sending money using IFSC and account number with the last update.
BHIM app also has the option to request money. You can request money to the person who has activated UPI in his/her account. This option becomes handy when you want to borrow some money from your friend.
Scan & Pay
You can make payments by scanning UPI QR codes. Making payments using BHIM app is already fast but Scan & Pay makes it even faster and easier. Paytm also has the option to scan QR codes to make payments. But it can only scan QR codes which are generated by Paytm itself.
Generate QR Code
You can also generate your UPI QR code using BHIM UPI app. Many UPI apps such as SBI Pay do not have this feature. Though Paytm has a similar option. But the QR codes generated by Paytm work only with Paytm. But the QR codes generated by BHIM app work on other UPI apps.
Check account balance
BHIM app can also check your account balance. Just add your bank account in BHIM and tap on the ‘Request Balance’. This option is placed at the bank accounts page.
You can make payments also with Paytm. But these payments are limited to Paytm users. You can not pay anyone if he/she is not using Paytm. Not everyone uses Paytm so this feature is not as useful as BHIM’s send money feature.
Recharge phones and DTH
Paytm is a mobile wallet app. Hence, it has some specific features such as recharge phones and DTH. You can also use it to pay electricity, water, gas and broadband bills.
Book hotels, flights and movie tickets
Paytm also has options to book hotels, flights, movie and train tickets. BHIM app does not have these options. That’s why BHIM is easy and fast.
Paytm gives too many cashback offers. Most cashback offers are only applicable to the payments using wallet money. And I have already told you that the money you add or receive in your Paytm wallet is not safe. On the other hand BHIM doesn’t give any cashback, however you can take part in the lucky grahak Yojana and Digidhan Vyapar Yojana by using the BHIM app. Government is giving daily giving ₹1000 to 15,000 people under this scheme.
Most of the people prefer digital payments for the ease and convenience. And almost any app cannot beat BHIM app in these areas. Another area where Paytm loses is security. Though it has provided the security for its Pay and Passbook options but it relies on your phone’s security. Moreover, the options like recharge, bill payments and bookings do not have any security at all. The Paytm is also slower than its opponent because of too many features.
Choosing a winner is slightly difficult between BHIM app and Paytm. Both these apps are great in overall performance. But if I have to choose one I will definitely go with BHIM app. Because it is faster, easier and more secure payment solution than Paytm. However, Paytm gives the recharges and bill payment facility which is not available in BHIM. Thus it may be more useful for some people. You can also compare the BHIM with SBI Pay, another very good UPI app.