PhonePe vs Wise
PhonePe
phonepe.com
Wise
wise.comSide by side
| Figure | PhonePe | Wise |
|---|---|---|
| Price from | Free | Free |
| Free plan | Yes | Yes |
| Free trial | — | — |
| Open source | — | — |
| Web | — | Yes |
| iOS | Yes | Yes |
| Android | Yes | Yes |
| Plans published | 2 | 1 |
| Spec score · Money Transfer Apps | 8.4 (#23) | 8.9 (#5) |
| Spec score · Peer-to-Peer Payment Apps | 8.3 (#8) | 8.1 (#13) |
| Spec score · Digital Wallet Apps | 8.1 (#19) | 8.0 (#24) |
| Company history | PhonePe says it was founded in December 2015 and that its app went live in 2016. | Wise says it launched in 2011 with a vision of making international money transfers cheap, fair, and simple. |
| Upfront fee display | Yes | Yes |
| Founded | 2015 | 2011 |
| Free plan | Yes | Yes |
| Headquarters | PhonePe describes itself as an India-headquartered technology company. | London, United Kingdom |
| Mobile platforms | both | The Wise app is available for iOS through the Apple App Store and for Android through Google Play. |
| Recipient methods | bank | bank |
| Scheduled transfers | Yes | Yes |
| Security | 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. | Wise says it safeguards customer money separately from its own and uses two-step authentication to protect accounts and transactions. |
| Transfer speed | instant | On many popular routes, transfers can arrive within one day, the same day, or instantly. |
| Transfer tracking | Yes | The app shows the list and current status of transfers users have set up. |
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.
Wise
Wise is a money app for sending money, receiving payments from abroad, checking exchange rates, paying bills, and sending money to loved ones. It sends to bank accounts in over 140 countries; delivery on many popular routes is within a day, the same day, or instant. Wise says it uses the mid-market exchange rate and displays fees before payment. Signing up is free, with no subscription; sending and conversion fees vary by currency and start from 0.33%. Sending to another Wise account has no sending fee, though conversion fees may still apply. Transfers can be funded with Apple Pay, Google Pay, cards, or bank transfer. Users can track and schedule transfers, repeat previous transfers, and receive live exchange-rate notifications. Wise says it safeguards customer money separately from its own and uses two-factor authentication to protect accounts and transactions. Photo ID may be required for some currencies or large transfers. The app is available on Android, iOS, and web.