Whatsapp UPI payment vs Google Tez vs BHIM app: What they offer you; check details

By: | Updated: June 15, 2018 8:11 PM

WhatsApp has reportedly started rolling out its UPI payment feature for users. The new payment feature is available for both iOS and Android users.

WhatsApp will directly challenge other UPI apps such as BHIM and Google Tez.

WhatsApp has reportedly started rolling out its UPI payment feature for users. The new payment feature is available for both iOS and Android users. According to a report by Entrackr, WhatsApp is allowing transaction up to Rs 5,000 per transaction. With this new feature, WhatsApp will directly challenge other UPI apps such as BHIM and Google Tez. Entrackr report also claim that Whatsapp managed to invite over 20 people to use the new service and they were able to send and receive payments through QR codes. However, the report also noted that there were some bugs and teething issues with the app.

WhatsApp UPI payment, BHIM, Google Tez compared

BHIM UPI app: Bharat Interface for Money or BHIM is a payments app that lets users make simple, easy and quick transactions using Unified Payments Interface (UPI). Customers can make direct bank payments to anyone on UPI using their ‘UPI ID’ or by scanning their QR code with the BHIM app. They can also request money through the app from a UPI ID.

Pioneered and developed by National Payments Corporation of India (NPCI), BHIM was conceived by the Government of India and launched by Prime Minister Narendra Modi on December 30, 2016, to bring in financial inclusion across the nation and a digitally-empowered society, according to the NPCI website.

The maximum amount a per can send or receive per transaction via BHIM app is up to Rs 20,000 per transaction and a maximum of Rs 40,000 per day from one bank account.

Google Tez app: Google in September 2017 launched a Google Tez app which is based on NPCI’s UPI platform. The app is available for both Android and iOS users. Unlike Mobikwik or Paytm, the UPI-based app is not a mobile wallet. It is built on UPI and allows direct money transfer via bank accounts.

According to google.com/tez, you will reach a daily limit if:

– You try to send more than Rs 1 lakh in one day across all UPI apps.
– You try to send money more than 20 times in one day across all UPI apps.

The maximum amount of money being allowed to be transferred is certainly higher on Google Tez App, followed by BHIM App. However, the Whatsapp UP payment app is still being tried and it is likely to undergo significant changes in coming days to take on competitors.

On May 29, Bloomberg reported that Whatsapp Payment app was to be launched for the whole of India within a few days. As per the report, Whatsapp will partner with leading private sector lenders – HDFC Bank Ltd., ICICI Bank Ltd. and Axis Bank Ltd – to process money transfers. SBI will likely join the platform when necessary systems are in place, the report quoted sources as saying.

Whatsapp is banking on its huge user base in India. The messaging app already has over 200 million users in the country and growing.

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