PayPay vs PhonePe
PayPay
paypay.ne.jp
PhonePe
phonepe.comSide by side
| Figure | PayPay | PhonePe |
|---|---|---|
| Price from | $1,980/mo | Free |
| Free plan | Yes | Yes |
| Free trial | — | — |
| Open source | — | — |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| Plans published | 2 | 2 |
| Spec score · Peer-to-Peer Payment Apps | 8.5 (#6) | 8.3 (#8) |
| Spec score · Digital Wallet Apps | 8.3 (#12) | 8.1 (#19) |
| Spec score · Money Transfer Apps | 8.4 (#24) | 8.4 (#23) |
| Founded | 2018 | 2015 |
| Free plan | Yes | Yes |
| Headquarters | Tokyo, Japan | PhonePe describes itself as an India-headquartered technology company. |
| Mobile platforms | both | both |
| Scheduled transfers | Yes | Yes |
| Security | PayPay describes 24/7 fraud monitoring, two-factor authentication, and encryption of customer payment card and bank account information. | PhonePe says transactions require fingerprint or face ID, UPI PIN, and password authentication, and that its security teams monitor transactions in real time for suspicious activity. |
| Transfer speed | instant | instant |
| Transfer tracking | Yes | Yes |
Plans
In their own words
PhonePe
PhonePe is a payments app for Android and iOS. It lets users send money to a UPI ID, mobile number, or bank account, with instant transfers, tracking, and scheduled transfers. Users can also scan and pay, check balances, pay utility bills, and recharge mobile, DTH, FASTag, Google Play, and Apple Store balances. The app includes insurance, lending, and wealth services, plus bookings for flights, hotels, cabs, metro, bus, and train travel. PhonePe says its international UPI payments work at select merchants in Singapore, the UAE, Nepal, Sri Lanka, Bhutan, and Mauritius. Businesses can accept payments through SmartSpeakers, QR codes, and EDC machines, or use payment links and the PhonePe Payment Gateway. The gateway supports UPI, credit and debit cards, and net banking. Its Standard Plan is free, with zero setup and annual maintenance fees; Enterprise pricing is custom for high-volume businesses. PhonePe was founded in 2015 and is headquartered in Bengaluru, Karnataka, India.