In this digital era, the adoption of UPI (Unified Payments Interface) for seamless transactions has surged, making it the best UPI app for cashback. Unlike traditional methods that require knowledge of bank account numbers and IFSC codes, UPI apps enable instant transfers within seconds. While credit cards, debit cards, net banking, and cash still serve as viable payment options, the unparalleled rise of UPI can be attributed to its exceptional cashback feature.
Today, there are a lot of applications that claim to provide maximum cashback on using their app. But is that true? How do you choose the best UPI app to claim a nice cashback? Here are the ten best UPI apps that you can use to get cashback.
Top 10 List of Best UPI App for Cashback – Founder, Revenue, and Total Downloads
Sameer Nigam & Rahul Chari
INR 1646 Crores
Over 500 Million
Developed by Google
INR 1467 Crores
Over 1 Billion
Vijay Shekhar Sharma
INR 7990 Crores
Over 500 Million
INR 393 Crores
Over 10 Million
Developed by the National Payments Corporation of India (NPCI)
Not Applicable because it’s the government agency
Over 100 Million
Developed by Amazon
INR 2000 Crores
Over 100 Million
Bipin Preet Singh
INR 560 Crores
Over 50 Million
Kunal Shah & Sandeep Tandon
INR 287 Crores
Over 10 Million
Developed by HDFC Bank
No Details Available
Over 10 Million
Not Publically Disclosed
Over 100 Million
What does UPI Cashback mean?
UPI cashback is a promotional reward for the user when they pay. These offers provide a certain fixed amount of cashback on eligible transactions, effectively reducing the overall cost of the transaction. When a purchase, a bill payment or a money transfer is made, Rs. 5 to Rs. 10 is sent into the user’s bank account. The amount of reward granted to the user may vary. In case you are lucky, it may range from Rs. 5 to Rs. 200.
UPI cashback comes in various forms, such as flat cashback, per cent-based cashback, tired cashback and specified category-based cashback. Each offer has its terms and conditions, including minimum payment amount, maximum cashback limit, etc.
Now that you know what UPI Cashback is, check out the list below of the Best UPI apps you can use to get the best cashback in 2023.
10 Best UPI Apps for Cashback
First on our list is the very well-known PhonePe, a popular UPI-based payment and financial service platform in India. PhonePe allows bank-to-bank money transfers and recharges, DTH, electricity, prepaid, postpaid, landline, broadband, gas insurance, etc. payments.
- Easy interface – PhonePe has an easy interface, making it most efficient for all merchants.
- Autopay of bills – PhonePe provides an auto payment service with only one user’s permission. The app will automatically make the payment for you. However, this service can also be turned off.
- Cashback and rewards – PhonePe offers promotional cashback offers to encourage users to make payments through their app. This cashback amount is transferred to the wallet balance of Phonepe wallet, which varies from person to person and offer to offer.
- Rewards can also be earned through scratch cards, coupons, or other offers.
With PhonePe, one can add several bank accounts and effortlessly handle them with one account.
There’s no option for a secure login.
The app is rewarding, meaning you get a scratch card every time you pay.
Sometimes, a transaction may get stuck for a long time.
Good customer service so that you can quickly solve any problems you face using the apps.
In case of cancellation of a ticket booked from Phonepe, the money is not refunded.
2. Google Pay
Next one is the Google-developed Google Pay, also known as GPAY. It is a widely used platform for money transferring and earning rewards and cashback.
- Security – Gpay provides high security that includes encryption, passcode protection, and even transaction verification to ensure that each payment is safely made.
- Online shopping – one can easily shop online from any e-commerce platform with gpay. It’s often awarded cashback and various discounts on every bill made.
- Rewards and offers – gpay has various special rewards and cashbacks for those who make payments using gpay. Gpay offers cashback during festivals. After every transaction, the user is rewarded with a digital scratch card. The user scratches this card and claims their reward.
Easy setup and use
Not always accepted at every stores
Not as effective on all phones
It can be carried on a smartphone or smartwatch
Concerns data privacy
Paytm is one of the most popular Indian mobile payments platforms offering many features and services. With quick and easy online payment acceptance, transactions have become effortless and trustworthy for users.
- User-friendly interface: Paytm has a very easy, user-friendly interface. Users can easily scan the QR code and quickly head towards the transaction process.
- Recharges and Bill payments: Paytm has made bill payments very easy. Users can easily recharge their phones and pay electricity, water, gas, and insurance bills through their Paytm app without additional fees.
- Deals and cashback points: Users are rewarded with deals and cashback points on completing a payment. These can be used on future purchases. This feature attracts users looking for money savings on a purchase.
Making bill payment
Icons are congested
Flight booking is possible
Features need to be properly sorted
Credit card payment is possible
The interface can be better
CRED is a financial technology-based company that rewards its members for quickly clearing their credit card bills. It also provides a house rent payment feature and many short-term credit lines.
- Credit card management: A user can link and manage multiple cards on the CRED app. Due to this, user can easily track their credit card transaction, due dates and credit card limits.
- Expense tracking: CRED provides a platform where users can easily track how they spend their money, helping the user understand and make better financial decisions.
- Cashback and rewards: CRED provides unique rewards in the form of CRED coins for making credit card payments on time. These coins can be redeemed as per user’s requirement.
Repay borrowed money in installments
Earn rewards and benefits
Credit card frauds
5. BHIM UPI
BHIM (Bharat Interface for Money) UPI is a mobile payment app based on NPCI’s UPI. The app requires the user to fill up their financial information before making their payments. It lets you make easy and quick payments using UPI.
- Security: BHIM UPI is one of the most secure payment service apps. It incorporates UPI pin authentication and two-factor authentication to ensure secured payments.
- Aadhar integration: Users can link their Aadhar number to this app for Aadhar-based payments.
- Cashback and offers: Reward is granted to new users of the BHIM app who download the application, link their bank accounts to the BHIM app and make ten successful unique transactions through the app.
The safest UPI app created by the Indian government.
Problems occur in OTP generation
Hindi and English versions of the app are available
The daily limit is Rs. 20,000
The software features a QR code scanner to scan and pay
6. Amazon Pay
Amazon Pay is an online payment service provided by Amazon that focuses on providing payments to external merchant websites with an Amazon account. It helps in making bill payments and accepting invoice amounts from customers.
- One-click purchasing: Amazon Pay allows users to buy a product and pay in just one click. App switching is not required.
- Amazon Pay Later: Amazon allows customers a ‘pay later’ option. Customers can buy a product now and pay later.
- Cashback and rewards: Amazon Pay offers various offers on various products.
It is fast, reliable and easy to use
More time is spent shopping
It offers a simple way to check out payments and manage them.
Many websites do not offer Amazon pay service
It is secure and easy to download
MobiKwik in Indian digital wallet and finance technology. It is the largest Buy Now Pay Later (BNPL) fintech. Its focus is mainly on addressing the unmet credits of fast-growing digitally paying users by combining the convenience of everyday mobile payments with the benefits of BNPL. This platform also enables payments via UPI. Mobikwik has also launched MobiKwik zip, which focuses on the middle-class population of India to make their daily payments simple.
- Mobile wallet
- Recharge and bill payments
- Online shopping
- Digital credits
- Offers and discounts
It is widely accepted all over the country
It comparatively has a smaller merchant network
It provides attractive offers, discounts, and cashback rewards
The UI is not very friendly
Allows a user to pay their bills conveniently.
FreeCharge is the simplest and fastest mobile payment to recharge online for prepaid and postpaid, DTH, electricity bills, gas bills and so on. It’s an Indian finance services company. Not only bill payments but Freeharge also allows you to invest in mutual funds and get credit through Freecharge EMI.
- Fast and secure transactions
- Bill reminders
- Bill splits
- Cashback offers
Increases purchase power
Pay rent and other expenses quickly
Over-spending control feature is not there
EMI Advance Reminder
Payzapp is an online payment app and digital wallet launched by HDFC Bank. It enables you to make digital payments for various online and offline services without using your credit card or banking accounts. Payzapp card is an app that makes digital payments convenient. PayZapp Card is a rewarding way to pay – with loads of discounts, sign-on bonuses, loyalty points and cash backs.
- Travel and Entertainment
- Customer support
- Refer and earn
- Cashback offers
It is good for purchasing flight tickets and shopping online
A transaction fee of 3.5 % of the transfer amount is charged
Users can get an extra 5% cashback in Payzapp
You cannot use these features if you use a Payzapp wallet but have yet to finish full KYC
As part of Reliance Jio, Jiopay is a digital payment and finance service that facilitates quick and simple transactions without complicated processing. Jiopay allows payments from digital mode, including cards of all types, UPI, net banking, and BNPL. JioPay products are tailor-made to the business needs of merchants in Bharat.
- Mobile wallet
- Recharges and bill payments
- International transactions
- Cashback and offers
Convenient in operation
Network connectivity issues
Low transaction fees
Dependency on smartphones
Extra secured layer of protection for data
Thе group of UPI apps has transformed how we manage our finances and make payments. The convenience, speed, and security they offer make them indispensable tools in our daily lives. Moreover, these 10 UPI apps have proven to be the best when it comes to saving money through cashback offers.
Howеvеr, thе best UPI app for cashback ultimately depends on individual preferences, spending habits, and thе offers available at any givеn time. It’s essential to kееp an eye out for thе latest promotions and to еxplorе diffеrent apps to maximize your savings.
1. Which is the best UPI app for cashback purpose?
Google Pay is considered as one of the best UPI App due to its feature of cashback on every transaction, while others are also considered as good such as PhonePe, Paytm, etc.
2. How many transactions in a day can be done through UPI?
Within a span of 24 hours, anyone can do maximum of 10 transactions through UPI apps, considering all the bank accounts.
3. Can there be multiple UPI accounts linked to a bank account?
Yes, there can be maximum four UPI accounts linked to a bank account for the purpose of payment and secured method too.
4. What is the maximum limit of transaction through UPI app?
Any user can do maximum transfer of Rs 1 Lakh at once through any UPI app, and then the cycle gets refreshed after 24 hours of the payment done.
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