Paytm has become a household brand, with its online cash wallet being used by anyone who owns a smartphone. Its popularity has grown so much that it now sees 7 million transactions a day, up from 2.5 million transactions previously. This includes everyone from Uber drivers to college students, making it a common choice for online transactions.

Paytm’s growth has attracted the attention of competitors, including PayPal, the largest payment gateway solution worldwide. PayPal has accused Paytm of trademark infringement, citing a deceptive similarity between their logos. In this article, we will make it clear for the readers which one between Paytm and PayPal is better. So let’s dig in!

Benefits of Using Paytm

Paytm is the leading mobile payment app in India, offering a range of services beyond just mobile recharge. Here are the top 10 features that we frequently use:

Merchant Payment

Paytm offers a convenient Merchant Payment feature that allows users to pay for purchases digitally. There are three different ways to pay without using cash: through the Paytm Wallet, Paytm Payment Bank Account, or a bank account linked with Paytm.

However, it is important to note that the merchant must also use the Paytm App. Additionally, users can now pay by simply scanning any QR code through the Paytm app.

Fund Transfer

Paytm offers a convenient way to save your bank account and make online payments and fund transfers. The transferred amount is directly credited to the recipient’s bank account. You can also transfer funds from your Paytm Payment Bank Account and link it with BHIM UPI.

Paytm also provides fund transfer facilities through IMPS and NEFT without any charges. However, if you want to transfer funds from your wallet to Payment Bank Account, you have to pay up to 5% fee, which seems a little strange as both features are part of the Paytm app.

Bill Payment

Paytm offers a convenient way to pay various bills including Postpaid Mobile, Electricity, DTH, Cable TV, Water Tax, Gas, Data Card, Landline, Broadband, House Tax, and Credit Card bills. It is important to note that not all service providers are registered with Paytm, so it is necessary to check if your service provider is registered before making a payment.

Financial Investment

Paytm offers a range of financial services, including the ability to pay your loan EMI to your lender. You can also invest in Mutual Funds / SIP through Paytm Money, although you will need to install its connected App from the Play Store separately.

Additionally, you can make a Fixed Deposit in Paytm with a 7.50% interest rate. Paytm also allows you to pay your life insurance/health insurance premium, buy a new policy, and manage your policy. Finally, you can take advantage of the Paytm First Card for contactless payments, which is powered by Citi Bank.

Benefits of Using PayPal

PayPal offers a wide range of products for purchase, including high-quality fashion items, children’s products, and the latest gadgets. Shop with confidence and convenience with PayPal. Let us discuss the benefits of using PayPal in detail:

Shop for the Best Worldwide

PayPal is accepted by over 26 million merchants in more than 200 markets worldwide. You can easily purchase high-quality goods from international stores without leaving your home.

Simply click the PayPal button when you find a great deal and make your purchase with confidence.

Protected Purchase

PayPal offers Buyer Protection to safeguard shoppers. With PayPal, eligible purchases are covered in case of non-delivery or a mismatched description. In such cases, we provide reimbursement to our customers.

Use Preferred Card to Pay

PayPal offers a secure and user-friendly payment platform for the customers. With PayPal, you can enjoy affordable currency conversion charges, making it easier for you to make transactions in different currencies.

PayPal collaborates with leading banks in India and abroad, enabling you to conveniently use your preferred credit or debit card for payments while also earning reward points.

Free Buying

When you use PayPal for shopping, you won’t be charged any transaction fee as the seller takes care of it. However, if you’re making a purchase in a currency other than your own, a minimal conversion fee will be applied.

Bottom Lines

Paytm is a mobile payment processing app developed by One97 Communications in India. Though there are other local payment solutions like PhonePe and Google Pay available in our country, PayPal is still the best option for sending and receiving payments from different countries.

PayPal has consistently demonstrated exceptional performance, credibility, and dependability throughout the years.