What Is PhonePe App?
PhonePe is an Indian digital wallet platform and online payment company headquartered in Bangalore, India. PhonePe was founded in December 2015, by Sameer Nigam, Rahul Chari, and Burzin Engineer. The PhonePe app, based on the Unified Payments Interface (UPI), went live in August 2016.
PhonePe is a UPI based payment application. Flipkart acquired PhonePe in 2016. Users can make payments through Phonepe after creating their UPI ID. Users don’t have to recharge their wallets as money is debited from the account directly. PhonePe is the first UPI based app that crossed 10 million app downloads.
In 2018 PhonePe launched various micro-apps on its platform as well. Users can make payments to merchants or friends at any time during any day without going through the long process of payment through net banking.
Main Highlights
- Flipkart acquired PhonePe in 2016.
- Users can make UPI transactions, pay bills, link other digital wallets to PhonePe very easily.
- PhonePe users can also automate the payment of bills.
- Explore nearby services and outlets for Food, Healthcare, and other utilities.
- PhonePe allows the linking of multiple bank accounts to make UPI transactions.
Features Of PhonePe App
- Through PhonePe users can easily recharge mobile or pay bills on time.
- Transfer money using the QR code through PhonePe.
- Users can link multiple bank accounts with Phonepe account.
- Users can also check account balance through PhonePe.
- The app provides the facility to link both credit and debit cards.
- PhonePe allows users to set up auto payment as well for bills.
- PhonePe provides various rewards and cash back as well.
- Users can also link multiple other digital wallets with PhonePe like Freecharge, Airtel Money, JIO Money, etc.
- Users can also explore various nearby stores and service providers for shopping, healthcare, food, and other utilities.
Why choose the PhonePe App?
The PhonePe app is available in over 11 Indian languages. Using PhonePe, users can send and receive money, recharge mobile, DTH, data cards, make utility payments, pay at shops, invest in tax saving funds, liquid Funds, buy insurance and mutual funds, and gold.
In addition, PhonePe also allows users to book Ola rides, pay for Redbus tickets, order food on Freshmenu, and Goibibo Flight and Hotel services through the Switch platform. PhonePe is accepted as a payment option at over 10 million offline and online merchant outlets across 400 cities in India covering food, travel, groceries, medicines, movie tickets, etc.
The app crossed the 100 million user mark in June 2018 and also crossed 5 billion transactions in December 2019.
It currently has over 200 million users. The company launched the PhonePe ATM in January 2020. The PhonePe ATM allows neighborhood Kirana stores to dispense cash in real-time to customers. PhonePe is licensed by the Reserve Bank of India for the issuance and operation of a Semi-Closed Prepaid Payment system with Authorization Number: 75/2014 dated 22 August 2014.
Top Reviews Of PhonePe App
Frequently asked questions about PhonePe App
- Is PhonePe safe to use?
PhonePe is 100% safe and secure. All payments happen over secure banking networks and the app does not store any user data or passwords.
- What is UPI pin in PhonePe?
UPI allows the users to pay directly from their bank account to different merchants without adding the beneficiary, card details, or net banking/wallet password.
- How do I recharge my PhonePe wallet?
Go to My Account from Home Screen and tap on Wallet Balance. Now, select Top Up and enter the amount. Choose your payment source and confirm the pin.
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