POST NOV 8th
The Nov 8th demonetization announcement has given the Indian Fintech segment a lift. Newer apps being introduced to help the people tide over the current situation and digitize the economy.The recently launched apps are mainly payment solutions catering to the UPI payment system. To our nontech readers,United payment Interface or UPI is nothing but a smart-phone based money transfer system integrated on any banking app.The major highlights of this system are
![How UPI System Works How UPI System Works](https://teknospire.com/static/img/blog/How-UPI-System-Works.jpg)
How UPI System Works
![Sending Money on UPI Sending Money on UPI](https://teknospire.com/static/img/blog/Sending-Money-on-UPI.png)
The Top 5 popular appslaunched after Demonetization
With so many UPI apps being launched, it is a bit trying deciding on the most suitable and appropriate app ,so no doubt our readers also would be finding it difficult choosing the best app. Did some research and we have come up with a ready reckoner of the top 5 recently launched apps for our readers.The apps are
![TOP 5 APPS TOP 5 APPS](https://teknospire.com/static/img/blog/TOP-5-APPS.png)
About The Popular Apps
![SBI pay SBI pay](https://teknospire.com/static/img/blog/SBI-PAY.jpg)
SBI pay is SBI ‘S Unified Payment App. Some of its highlights are
Apart from preparing the ready reckoner, we have compared the above products on a few basic points. This comparison would make it easier for our readers in app choosing
Table comparing the products SBI PAY, EASY PAY, BHIM, AADHAR PAY, PhonePe
Features | SBI PAY | EASY PAY | BHIM | AADHAR PAY | PhonePe |
---|---|---|---|---|---|
Operating System | Android | Android | All | All | IOS |
Internet Required | Yes | Yes | Yes | No * | Yes |
Merchant Payment available | No | Yes | No | Yes | No |
Uses UPI Platform | Yes | No | Yes | No | yes |
Languages available in | English | English | English , Hindi | English | English |
Should Users install the app | Yes | Yes | Yes | Only Merchants to install it | yes |
Charges | NIL | Nil | NIL,however the user’s bank may levy nominal charge | Nil | Nil |
*Biometric Machine required
Assuming that this blog has helped in deciding on the best payment app we are signing off and would be catching up with our readers in our next blog “Review of Fintech Products Launched after the Demo and Products in pipeline” where we would be discussing the recently launched most downloaded app and the apps ready for launch
PICTURE COURTESY
Google
SBI Finally Launches UPI Powered SBI Pay App; Even Non-SBI Customers Can Register