In MySQL we can have a timestamp column which is automatically set to the current date/time whenever the record is inserted or updated:

create table mytable (
  id int primary key,
  value varchar(100),
  updated_timestamp timestamp not null default CURRENT_TIMESTAMP on update CURRENT_TIMESTAMP
)

In PostgreSQL we can have a timestamp column which is automatically set to the current date/time whenever the record is inserted:

create table mytable (
  id int primary key,
  value varchar(100),
  updated_timestamp timestamp not null default CURRENT_TIMESTAMP
)

but to have it updated whenever there’s an update in the row we have to write a trigger. First we have to write a function that changes the updated_timestamp column in a table:

CREATE OR REPLACE FUNCTION set_update_timestamp()
RETURNS TRIGGER AS $$
BEGIN
   NEW.updated_timestamp = now(); 
   RETURN NEW;
END;
$$ language 'plpgsql';

then we create the trigger:

CREATE TRIGGER mytable_update
BEFORE UPDATE ON mytable
FOR EACH ROW
  EXECUTE PROCEDURE set_update_timestamp();

there’s still a little difference between MySQL and PostgreSQL, as MySQL will execute the update only whenever there’s an actual update:

insert into mytable (id, value) values (1, 'Hello');
-- updated_timestamp set to current timestamp

update mytable set value='Hello' where id=1;
-- PostgreSQL will update the updated_timestamp column
-- but MySQL no because there are no changes in record

update mytable set value='Hi!' where id=1;
-- both MySQL and PostgreSQL will update the updated_timestamp column

but we can add more flexibility adding some conditions to the trigger:

CREATE TRIGGER mytable_update
BEFORE UPDATE ON mytable
FOR EACH ROW
  WHEN ((old.value)::text IS DISTINCT FROM (new.value)::text)
  EXECUTE PROCEDURE set_update_timestamp()

More tables can share the same set_update_timestamp() function if they share the same updated_timestamp column.