PhonPe – Everything You Need To Know

PhonePe is known for its digital money transfer. It is an Indian company having 280 million users.

Who provide services of digital payments, advertising, and merchant payment.

You can use it in multiple languages.

Being a user of a phonePe you have a lot of features like sending and receiving money, DTH, recharging mobile, making utility payments, paying at shops, data cards, liquid funds, investing in tax saving funds, buying insurance, and mutual funds and gold.

This is not all you get in addition to a feature to book Ola rides, pay for Redbus tickets, and book flights and hotels on Goibibo through the Switch platform.

We all know that it is one of the most famous

applications used worldwide but what makes it different from other applications, what are their achievements? So here it is

– It crossed the 100 million user mark in June 2018.

– 5 billion transactions in December 2019.

– It currently has over 280 million users.

– It also launched a PhonePe ATM in January 2020.

For doing an online transaction, the party highly requires a connection with a bank therefore it gets licensed by RBI (Reserve Bank of India) for issuing and operating semi-closed prepaid payment systems.

After one year of its operations, this company was acquired by Flipkart in April 2016 and the Fxmart license was transferred to phonePe and renamed as a phonePe wallet.

The founder was no longer a founder and became the CEO of the company.

They also acquired their high traffic within 3 months of 10 million users and in 2018 Baby came to the fastest Indian payment app and got 50 million downloaders in Google Play Store.

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Installation:

Step 1: You have to download the app from the Play Store or the Apple App Store.

Step 2: When you download the app, open it, and first you have to verify it with your phone number (You have to enter the same mobile number that is registered with your bank account).

Step 3: Now you have to enter your details like name, email address and set your 4-digit password, and activate your account.

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Why should we go with PhonePe?

In the market, there is a lot of availability of online payment but phones may offer a lot of facilities and functions that attract users towards it like

– If you are a very regular user of your bank and want to be 24×7 with it then phonePe is one of the best options as it allows you to link with your bank account, check your bank balance, send and receive money, can easily link your debit or credit card with it, can do money transfer to any bank with your mobile phone and you can also set a pin for privacy.

– Direct top-ups – Users can do faster transactions because in this you don’t have to link your account with the bank, you can easily transfer money by phone or wallet.

This method is more secure for daily payments or money transfers.

– Multi-payment options- There is so much flexibility in payment options like UPI, credit or debit card, or bank accounts and all these payment options are very secure.

– Multi-language Interface this app Hindi or English is not the only language users can use there are more languages like Tamil, Marathi, and Bengali.

– Institutive POS- Not only an online fund transfer also accepts payments from the store.

This is now used widely by merchants in their stores as this reduces the waiting time of customers and allows the business to serve more buyers.

Also, payment only succeeded once the customers entered their PIN on the app.

– All-in-one solution- In India, you can use PhonePe anywhere and anytime.

It is very useful for the business person.

Only by one tap users send their employee salary and they can also pay their utility bills.

– PhonePe app supports different devices like Windows, Android, iPhone or iPad, and Mac.

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More you know about PhonePe:

PhonePe helps users in many ways it accepts payments from all UPI-based apps, debit and credit cards as well as a wallet (by another third-party wallet) on the app.

In January 2018 PhonePe partnered with FreeCharge Through this partnership PhonePe users can link their Freecharge wallet to the PhonePe app.

Similar to this phonePe partnered with Jio Money and Airtel Money.

For conversation when the user of PhonePe is doing a transaction or confirming the receipt of money, they launched chat features in February, definitely, it will help the users of PhonePe. Later it also made partnerships with Red Bus, Ola, eat, fit, Swiggy, and Goibibo. After this partnership, they are enabled to increase their business and fix their bugs, and also it is helpful for their users.

In January 2020, PhonePe launched international travel insurance and became the first trusted digital payment platform in India.

There are more platforms in India that sell their insurance policies and PhonePe is one of them, they sold over 5 lakh insurance policies and became the largest distributor of insure-tech in India.

In 2018 and 2019 they won many awards like in 2018 they won the best mobile payment product, won the UPI Digital Innovation award from NPCI, won the SuperStarUp Asia award and there are more awards.

In 2019 they won the best digital wallet, best mobile payment, and more awards like this.

Frequently ask questions Related to phone:

Q-1 How do I log into PhonePe?

Ans- First you have to open the app and register through mobile and for more privacy, you can also set your PIN to access PhonePe.

If you want to connect it with your bank account, just click on the bank account options choose your bank, and fill in the valid details after that you can send or receive money by bank.

Q-2 How much money can I send through PhonePe?