PayTm or Google Pay: The Smarter Choice!

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Transforming India into a cashless economy was an audacious move indeed. With PayTm making our daily monetary transactions more effortless than ever, it sure might seem like going cashless was the smartest decision, but it had its own drawbacks. For instance, how do you think the proletariat would go on with their day’s transactions with PayTm when they do not even have a mobile phone?.

Digital and Cashless India have its own loopholes, inequality to begin with. However, it had its perks as well. Illegal transactions could be managed since there would be paper trails and automatic documentation for starters. Therefore, it would do well to say that the plan of a cashless India was probably not thought out. It was great on the paper but weak in its implementation. 

However, we are not here today to consider and gauge the decision of digitalisation of India. We would instead look into the two biggest e-transaction platforms that have taken on the economy by a storm and understand which would be of more use to us who can afford a mobile phone.


PayTm has been leading the market for almost a decade now and, needless to say, has changed the face of financial transactions. It is thus, no surprise that Google, which has its fingers in many pies, would foray into the market of e-transactions sooner than later. Google Pay is quite a new addition with a history that goes back to only four years. Its initial launch in India, as Google Tez, was in September, 2015 and there has been no looking back for this giant ever since. Though PayTm has served as the most trusted digital payment app of India, the name of Google was enough to change the game. People still put their faith in PayTm for tasks like basic recharging, booking flight tickets, and paying school fees. However, with Google Pay on the block, there has been a substantial shift in the market.

This, therefore, begs the question- which is a smarter choice, PayTm, or Google Pay? Let us dive in. Of course, if you want more insight into finance and investing, you could browse through

Know Your Customer (KYC):

Know Your Customer, aka KYC has been made mandatory by RBI and could be treated as a small background check on the authenticity of customers. It is a one-time process and has certain verification procedures. The catch here is that PayTm demands the KYC be completed, lest you would not be able to move ahead with your transactions. Google Pay, on the other hand, does not require KYC. It instead requires you to link your bank account directly with the app to avail its perks. 

Verdict? It is easier to link bank account with the app than go through the hassle of KYC. Thus, a win-win for Google Pay!

Easier Transactions:

Google Pay clearly seems to have won the point here since it is much easier to carry out your transactions with Google Pay rather than PayTm. In PayTm, you will have to keep on entering the mobile numbers and account numbers of your service providers at all times. However, Google Pay requires you to enter the details just once and then be over with it. 


Verdict? Another winning situation for Google Pay, thus.

The Concept of Wallets:

PayTm loses this point too since for you to be able to proceed with any kind of transaction, you need to transfer money from your account to PayTm’s wallet first. Google Pay does not require any such step. You pay directly from your bank account using Google Pay, and thus, the money is secure. Interest shall also be accrued on that amount. 

Verdict? Google Pay wins this slot too.

Paying Through Credit Cards:

Google Pay suffers a blow here at the hands of PayTm. PayTm allows you to pay through your credit cards in case you run out of money. However, Google Pay does not have this feature enabled yet. 

Verdict? Therefore, in moments such as these when paying through credit cards might seem like the only option, PayTm is your saviour.

Higher Cashback and Greater Rewards:

Google Pay offers a higher cashback on your transactions and greater rewards as well. Though PayTm has been offering cash back and rewards since its inception too, Google Pay has a more significant advantage here. Google Pay offers cash as a cashback which gets deposited in your account instantly. Everyone loves rewards and cashback. 

Verdict? Thus, Google Pay has gained a more devoted and dedicated fan base in India.

Language Support:

Google Pay clearly knows how to entice the market. It has the support of all the major Indian languages like Hindi, Marathi, Bengali, Kannada, Tamil, and others. Therefore, it is easier for users to carry on with their transactions in their native languages. PayTm does not come with such a broad spectrum of language support.

Verdict? Google Pay wins another point here.

In the battle of Google Pay v/s PayTm, the internet giant is clearly seen to be winning all the vital brownie points. This does not come as a surprise since Google has always been reigning the market for decades now. PayTm might have been in the business for more years than Google Pay, but it won’t be long before the tech giant replaces PayTm.


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