A COMPARATIVE ANALYSIS OF TWO BIGGEST UPI PAYMENT APPS: BHIM AND GOOGLE PAY (TEZ)

In last few years, India has taken a move towards the cashless economy where the payment is made through digital modes. The revolution in the Mobile and Internet has brought this drastic change in the country revolutionising the whole industry. A continuous increase in adoption of mobile payments and billing methods has witnessed leveraging on the wireless technologies in the country. ‘Fintech' is used to provide digitalised transactions to its users to perform various business tasks in a secured way using internet based applications. Yet, the success of these application based systems depends on many other factors like; Ease of use, security option available, Features, etc. This paper is an attempt to compare the two biggest Unified Payments Interface (UPI) apps BHIM and Google Pay (Tez) used by the customers. Both these applications are accepted almost equally in the market but still have some differences which the author has tried to cover in this study with the help of survey conducted in Mumbai region for their payment services and various factors influencing their decision while selecting these applications. Key Words: Mobile payments, Cashless economy, Internet revolution, Wireless technologies, digitalised transactions.