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The world is fast moving towards automation and it is only apt to call this age a digital era. Whether it is groceries or apparel shopping, almost every need is available at our fingertips. This change in the way we shop is due to the advancement in e-commerce space. The shift in the trend of physical shopping from stores to online shopping resulted in the idea of e-wallets.
E-wallets have now made online shopping convenient and have also eliminated the need to carry around cash for any kind of shopping. With e-wallets, we can easily transfer cash from one account to another without involving physical money. As long as the buyer and seller have e-wallets, this is easy and quick.
PhonePe is a leading digital wallet using which you can transfer money through UPI, recharge prepaid mobile, make utility bill payments, and much more. Just add your bank account details and generate a UPI ID. Without worrying about recharging your wallet, you can begin shopping safely and securely. So, go ahead and download PhonePe today to enjoy great perks of online shopping!
In simple terms, a digital wallet is an electronic medium which lets an individual make financial transactions online. You can either use a computer or your smartphone for the same. When e-wallets were initially launched, a user had to transfer money from his bank account to the e-wallet account. Now, as e-wallets have advanced further, you can link your bank account directly to the e-wallet and avoid the lengthy process.
Top Features of PhonePe
PhonePe is undoubtedly one of the most revolutionary apps since it has managed to transform the way cash was carried around in India. Here are some of the top noteworthy features of PhonePe:
Here is how you can use PhonePe for all your needs:
Users can download the PhonePe app from Google Play Store. Alternatively, they can also download it from iOS platforms.
After learning about PhonePe, let’s also get a glimpse on how to use it. Here are the steps to be followed:
1. What is VPA and how does it work?
Virtual Payment Address, also known as VPA is similar to an email id. It is a type of identification mechanism which is used for initiating send or receive requests on the UPI platform. VPA is unique for every user and they can choose it during the registration process itself.
2. Will I need to furnish IFSC code for sending money?
No. You don’t need to provide any bank related details for sending or receiving money. The only thing required for such transactions is the VPA which is provided to you at the time of registration.
3. What are the different payment options available in PhonePe?
PhonePe has two payment options, namely, Bank Account and PhonePe wallet.
4. In case my bank account is not active with the UPI, will I be able to transact?
You cannot make any transactions on the PhonePe app unless you add your bank account on the app.
5. Is there any transaction limit with PhonePe?
The maximum limit for PhonePe transactions is Rs. 10,000 per month. The limit for every bank account transaction is Rs. 1 lakh.
6. What are the transaction charges for PhonePe users?
There are no charges levied by PhonePe for any transaction.
7. Can I link multiple bank accounts on my PhonePe app?
Yes. You can do so easily on the main menu. Select the bank accounts and click on ‘add a new bank account’.
8. Is it possible to split a bill using PhonePe? How can I do it?
If you are out with your friends and want to split some bills, you can use PhonePe to split the bills easily. Here is how you can go about it:
9. Funds got debited from my account but it did not reflect in the payee account. What should I do?
In such a case, the funds would be credited back into your account. In case the funds do not get credited back to your account within 48 hours, you may contact the customer care.
10. Is it important to have a bank account for using PhonePe?
Yes. You cannot use PhonePe without a valid and active bank account.
PhonePe users can now Manage Multiple UPI IDs using the App22 Mar 2021
PhonePe users can now use multiple UPI IDs on the app. This is a great option for customers as they can make transactions on another UPI ID, if one bank’s UPI ID is temporarily down. With over 265 million registered users, PhonePe is one of the bigge...
PhonePe users can now use multiple UPI IDs on the app. This is a great option for customers as they can make transactions on another UPI ID, if one bank’s UPI ID is temporarily down. With over 265 million registered users, PhonePe is one of the biggest digital wallets in India. Customers can use UPI IDs from Axis Bank, ICICI Bank and YES Bank on the app. With this move, PhonePe promises seamless transactions for merchants as well as customers using the app.
PhonePe Users in Maharashtra can now complete Offline Payments without Scanning QR Codes3 Nov 2020
PhonePe, one of the top payment platforms in India, has announced that customers can now pay for their purchases at over 20 lakh brick-and-mortar outlets in Maharashtra without the need to scan QR codes. Customers can easily locate offline shops in t...
PhonePe, one of the top payment platforms in India, has announced that customers can now pay for their purchases at over 20 lakh brick-and-mortar outlets in Maharashtra without the need to scan QR codes. Customers can easily locate offline shops in their area by using the Stores tab on the PhonePe mobile app. They can then select their preferred local store and tap on the “Pay Now Feature,” to complete the payment without the need to scan a QR code. The payment can be completed using UPI, debit/credit cards, wallet, etc.
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