PhonePe vs Remitly

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.

Remitly is a mobile app for sending money internationally, available on Android and iOS. It serves more than 175 countries and offers several ways for recipients to receive funds: bank account, mobile wallet, cash pickup, mobile money, home delivery, or debit card deposit. Senders can pay by bank transfer, debit or credit card, Apple Pay, or Google Pay. Before sending, the app displays the exchange rate, fees, and total cost; exchange rates are variable, and transfer speed is listed as instant. Transfers can be tracked, and recipients do not need to install the app or sign up. The app is free to download, and a free plan is listed. For transfers from the United States to France, bank deposit is free and cash pickup is $2.99, paid once. A new-customer promotional rate applies to the first 1,500.00 USD sent. Sending limits vary by sender and recipient location and apply over 24 hours, 30 days, and 180 days. Remitly says it refunds fees if a transfer is not delivered on time.