After demonetization, the trend of payment and money transfer apps has increased in the country, although people also use these apps even before demonetization, at that time most of the merchants used this service to exchange money in other countries. After demonetization, people started getting to know about the benefits of payment transfer apps and at present, there will be hardly anyone in the country who does not have a UPI app installed on a mobile device, the biggest reason for this is the flexible nature of these apps.

To transfer money through these apps, you do not need to stand in a long queue of any bank, rather you can exchange money from your mobile sitting at your home. But the question arises of how to choose the best money transfer app. Keeping this in mind, today I have brought the 5 best payment and money transfer apps, so let's have a look.

What points should we consider while choosing a money transfer app? 

• Compatibility:
  The money transfer app you choose must work on both iOS and Android devices. As a result, you will be able to send money to anyone without any hassle.
  
• Speed:
  One of the most crucial factors to consider before using any money transfer app is the speed with which it transfers funds, as speed is critical in any money transfer app. If the speed at which money is transferred is slow, the app will be of no use.
  
  
• Money transfer limit:
  When choosing a money transfer app, make sure it can transfer large amounts, so you can spend significant amounts on your friends whenever you need.
  
  
• Safety:
  Last but not least, the security of your transactions is essential. Hence, be sure the app you're intending to use to make a payment is safe enough to protect you from fraud.

Best Payment transfer Mobile Apps:

Google Pay:

Google Pay is an app made by Google which was first launched in the market under the name Tez, Google Pay offers you high security against fraud. If you book tickets, pay electricity bills, or do any other type of transaction through Google Pay, then you get many types of offers. Google Pay also lets you link multiple bank accounts at the same time, although its user interface may be a bit difficult for first-time users to understand.

The users of this app get a transaction limit of up to one lakh and also can transfer money from one account to another account in a very short time.

Phone Pe:

PhonePe provides users with the convenience of recharging their mobiles to buy gold from any corner of the country. Along with this, you also get a wallet in which you can add money and use that money from time to time, furthermore, the app keeps your money safe and prevents all kinds of fraud. With this app, you get the facility to do transactions of up to one lakh, although the information about the daily transaction limit is not available, this app also assures quick money transactions.

Paytm:

Apart from transferring payments, you can also do online shopping via Paytm, although you will not get a good amount of cashback when doing transactions through this wallet as compared to other wallets. But to attract its customers, a few years ago Paytm had launched the scratch card feature, which you will get on every transaction you made.

Although the security of Paytm is a bit week, as time passes, Paytm is taking strict steps to increase the security of its platform, recently Paytm has also incorporated a feature that allows users to identify malicious apps installed on their mobile device. If I talk about the daily transaction limit, then you can do up to one lakh transactions every day through Paytm.