PhonePe is a mobile payment app which can serve all your payment needs, in a safe and secure manner. It launched in India by the e-commerce giant Flipkart. It is BHIM UPI based App to provide a cashless and seamless payment experience.
You can send and receive money, recharge your phone, pay utility bills, check bank account balance etc. using this app. It provides a cashless and a seamless payment experience to the user. In this post, let us discuss all the things you want to know about PhonePe app.
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How does PhonePe App work?
The app works on the Unified Payment Interface (UPI) and is powered by YES Bank. The UPI platform has been developed by the National Payments Corporation of India (NCPI).
When PhonePe App download, you need to register yourself by using your registered mobile number. Once your bank account is linked over UPI, you will have your UPI ID. Now you can instantly transfer the money from one bank to another by just using a mobile number or UPI ID.
PhonePe also comes with a digital mobile wallet for quick refunds and cashbacks. There is no need to recharge PhonePe wallet because the money will be directly debited from your linked bank account. You can spend PhonePe wallet balance or withdraw it into your linked account at the click of a button.
Things you can do with PhonePe
1. You can send and request money from your phone contacts list at any time.
2. Recharge prepaid mobile, DTH connections and data cards across the country.
3. Pay your utility bills.
4. You can split bills with your friends.
5. Shop online on a list of online shopping platforms using it.
6. You can also invest in mutual funds.
7. You can buy insurance products.
8. Buy and sell 24K gold at live market rates.
9. Get instant refunds and cashbacks from partner merchants into your PhonePe wallet.
10. Withdraw your wallet balance to your UPI enabled bank account at the click of a button – free of cost.
11. Top up your wallet using your linked account or a debit card to make lightning fast payments.
12. Check your bank account balance.
13. Your money is always in your bank account and not locked in a wallet.
14. It is multilingual. You can choose from Assamese, Bengali, English, Gujarati, Hindi, Kannada, Marathi, Malayalam, Odia, Tamil and Telugu languages to transact easily on the app.
How to Get PhonePe App?
PhonePe download available on Google Play Store and App Store. You can PhonePe download and install on your mobile and link up with your bank account to use it.
How to Set Up the App on your Mobile Phone
1. PhonePe App download and install on your mobile phone.
2. Open PhonePe app and verify your mobile number via SMS based mobile verification. Make sure to use the mobile number which is linked to your bank account.
3. Enter the details such as name, email Id (optional) and set a 4-digit password. Select the language.
4. Verify your email and create a unique VPA (Virtual Payment Address). VPA is used to send and receive payments.
5. Proceed to select your bank and it will automatically fetch bank account details.
6. Set a 6-digit UPI PIN (that you can remember) if you do not have a UPI PIN. Do not share this MPIN with anyone.
7. Once this is done, you can pay using this app directly from your account.
How to Transfer Money using PhonePe App?
Just follow the below steps to send money:
1. Open the app.
2. Choose a contact, UPI ID or a bank account you want to send money to.
3. Enter the amount.
4. Select the bank from which you want to pay.
5. Click on the “Send” tab.
6. Enter your 6-digit UPI PIN to complete the transaction.
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How to Request Money using PhonePe?
Just follow the below steps to receive money:
1. Open the app.
2. Tap on the “Request” option.
3. Enter the contact number or UPI ID of the person from whom you want to request money.
4. Enter the amount.
5. Click on the “Request” tab.
6. Your request for money is successfully placed.
Final Thoughts
I hope now you can use PhonePe app on your mobile phone. One App for all your payments. From utility bills, credit card bill, mobile recharge, DTH recharge, sending & requesting money, and to paying your insurance premium. You can do all this using this app.
Note: This post was originally published on May 10, 2019 and has been completely updated for accuracy and comprehensiveness.
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