India has seen a surge in its technology sector. The country now has the fourth-largest number of internet users in the world and is home to some of the most talented programmers and engineers. The apps can be simply used by scanning the static QR code to make the required payments. Here we have listed the top five apps that are considered as the best UPI apps for the year 2022:

1. Fave India:

Fave India allows users to send and receive money from their phones, meaning that if you receive a payment through your bank account, you can quickly convert it into cash through the app. It also allows you to buy things with your mobile phone or bank account by simply using the static QR code. On QR code payment, Fave India offers amazing deals, discounts, and rewards. You can also get up to 100% cashback on more than a thousand Fave partner stores across India, which makes it the leading payment app in the country. 

2. Google Pay:

Google’s payment solution is one of the most convenient options out there. It works for both online and in-person transactions, meaning you can use it to buy a coffee at a nearby café or a new book from an online retailer.

Plus, you can store all your other credit card information in Google Pay so that it’s just one tap away when you need to make a purchase. It’s just a two-step process where you can simply use the UPI scan code and make the payments.

3. PhonePe:

PhonePe is India’s largest mobile payments company, which should tell you something right off the bat! It has partnerships with over 200 banks and other financial institutions around the country, making it easy for users to pay for things with their mobile phone or account through a UPI scan code.

PhonePe is India’s most successful UPI app, and this has made it the most widely used one as well. The application is available on Android and iOS platforms, and using it lets you send money to anyone using their mobile number or UPI ID. Plus, PhonePe offers amazing exchange rates for transactions!

4. PayPal:

PayPal is among the most widely known names in online payments. While it can be used for shopping on websites outside India, it also works within the country using the UPI platform.

If you’re new to India and want to use your international card for cashless payments, this is a great option! The payments can be easily made through the UPI scan code or the static QR code.

5. Amazon UPI:

Amazon has even built its own UPI app. If you use the app to make purchases, you get the lowest possible exchange rate without signing up for a bank account. Plus, you can log in with your Amazon credentials. So you could pay for an Amazon gift card or other Amazon products with any UPI payment account, be it a bank account or prepaid wallet.

At the moment, UPI transactions are limited to Rs. 10,000. When the government intends to open up the system in a more widespread way, Amazon might have to put up a separate UPI app. If that is the case, then it could be preparing for the future in which online payments have become a part and parcel of e-commerce.

The UPI apps have been a great help in online payments because all you have to do is scan the static QR code to complete all your payments. Whether it’s paying your bills or shopping, everything has been made possible at your fingertips. 

With a growing number of people using UPI, there is a real need to improve the user experience to cater to more users and merchants across India.

Both Google Pay and Axis Pay have been widely used in countries such as the US, Singapore, and Malaysia where they have been offering users a seamless user experience with innovative payment methods that are easy for both the merchant and the consumer.

PhonePe has already established itself as the largest mobile payments platform in India and is now adding UPI to its portfolio. Mobile banking has become routine for most Indians, and PhonePe has established itself as the number one mobile financial service with over 200M unique users on their app.

While Amazon Pay UPI remains primarily focused on Amazon Pay users, Cube Capital is eager to expand the app’s reach across other merchant categories such as shops, restaurants, and online retailers.