After demonetization, digital payments have begun to take off in India. PhonePe App is an app that you can download with your Smartphone to pay digitally. It is the first payment app to be launched in India by the giant of e-commerce, Flipkart.
UPI (Unified Payment Interface) is a system for payment that allows you to transfer money from multiple accounts at any bank on your Smartphone. UPI System was launched by NPCI (National Payments Corporation of India) to transition towards cashless payments by RBI. Here’s everything you should be aware of PhonePe App.
What is Phonepe App?
PhonePe allows you to make simple mobile payments throughout India in a secure and secure space. It makes use of the UPI platform, which will enable you to transfer money from one account to another immediately by using a mobile phone number. You can also use the VPA (Virtual Payment Address). In addition, PhonePe also comes with an online wallet that can be used for quick refunds.
PhonePe is the best as it allows you to pay money directly into your bank account using this security password. It can be used with credit or debit cards, OTP (One Time Password), or any other security code used to make payments. You’ve probably seen other apps such as Paytm that teach you how to add money to your wallet before sending money to friends or any other merchant.
However, with PhonePe, there is no need to deposit to the wallet to transfer money. Instead, it simply takes the money from your account. Thus, the app does not have an issue; It can allow a maximum of 1 lakh transactions that you make from your bank account.
Also Read:- Why Gaming Guruji Is So Popular?
How do you download PhonePe App on your Android Mobile?
PhonePe App is available on
Features of PhonePe App
- You can transfer funds to your family and friends by entering their numbers, name, and number.
- Charge your mobile or data card DTH as well as pay your postpaid charges Electric, landline, as well as the gas bill.
- Check Your Bank Account Balance
- Get cashback from merchants and transfer cash to your account instantly.
- Debit, Netbanking, and Credit card top-ups aren’t permitted.
- You can transfer money from your wallet directly to your bank account. There is no cost here.
How do you set up PhonePe App. Phonepe App Kaise Install Kare
Once you have installed the Phone pay App, it is necessary to enter your phone number to register an account.
Note that it will send an SMS to your phone to confirm your phone number, and no OTP will be required for authentication. There is no sharing of sensitive information. Enter the number that is linked to your bank account to facilitate the procedure.
If you’ve entered a number connected to your bank account, The PhonePe app will immediately receive information from the bank you’ve selected.
Importance of MPIN on PhonePe App
Goodbye, OTP MPIN will be the only PIN you require to pay. Create a 6-digit MPIN you will remember. Configure your MPIN on your Bank Accounts tab.
- Enter the bank account you want to use and six digits from the end of your credit card, along with the expiry date.
- It will send you an OTP within a few minutes. You must enter the OTP and then complete the verification procedure.
- After that, the MPIN was successfully created.
Security Tip: Never give your MPIN to anyone else.
How to Add Bank Account on PhonePe App
The process of adding more bank accounts is simple.
- Go to the main menu>
- To account -> Add Bank Account Contact.
- Enter the IFSC Name of the Account holder or account number, and then confirm.
How to Send Money from PhonePe app.
- First open the Phonepe Bitcoin wallet app
- Select a bank account or contact to whom you want to send money.
- Enter the amount.
- Select your bank from which you want to make payment.
- Now click on Send.