Make cashless payment with PhonePe UPI based digital payment app

Enjoy Cashless Payment Experience With PhonePe Digital Payment App

The recent demonetization move in India has led to flurry of Digital Payment Systems. But more or less, these digital payment systems are pretty similar in features offered. Most of these digital payment systems are nothing but a Virtual Wallet or say, Digital Wallet. These eWallets are convenient to use but have a degree of risks involved with them. Also, speed and reliability matters. 100% security is never guaranteed but surely we can reduce the risks from the same. Talking about risks free digital payment system, today I am here today to discuss about PhonePe, a popular payment application offering extreme security.


What is PhonePe?

PhonePe is one of India’s leading digital payment application built for Android smartphones. The USP of the Phonepe lies with its UPI (United Payments Interface) support which allows you to connect your bank account to the app and use it for digital payments. This saves a lot of time wasted in entering payee and their bank details. As compared to other e-wallets and digital payment applications, PhonePe is the most secure payment platform in the country and offers direct bank-to-bank transfers using recipients’ mobile numbers. The security risks are drastically reduced with the implementation of MPIN which is pretty similar to any ATM Pin. Impeccable security is guaranteed with the use of MPIN.

Features of PhonePe App

Well, below is an overview of features in the PhonePe app. We will cover it all from start to finish. To begin with, first of all we need to download the app from app store. PhonePe is currently available for Android platform. So, you can download the same from Google Play Store.


Once you have downloaded the app from the play store, you can install the same on your mobile device. Once it is installed on your device, you can run the application by clicking on the app icon. The very first screen shown allows you to select your preferred language from the list of 5 popular languages in India. Once you have chosen your language, you can follow on screen instructions to complete the sign up process which requires nothing but your mobile number. Once the mobile verification is done and your account is successfully created, you can proceed ahead by linking your bank account details with the PhonePe app.

From the list of bank names, simply click on your bank name and leave the rest to the PhonePe app which securely fetches all required info of your bank account mapped to the given mobile number which is used for account verification. One thing to note here is that if your are unable to link your bank account then it means your mobile number hasn’t been mapped with the given bank account which results in the failure message.

Creating VPA in PhonePe

PhonePe also lets you create your own VPA (@ybl). VPA stands for Virtual Payment Address which connects user’s identity with his/her bank account. This VPA can be shared with any merchant site and any payment request can be made. Even you can make payment to any person having his VPA instead of mobile number. VPA thus has huge advantage over other systems as it enables risk free transaction avoiding leakage of  private and confidential bank details, account no, etc… In the above graphic on the right side, you can see the option to create your own VPA in the PhonePe app.

Once your have your VPA ready and have linked your bank account to the app, you can move on to the main dashboard to perform transactions of any type. You can send money, request money or even split a bill. Money can be sent directly to your contacts, any VPA or any other bank account. Though requesting money is limited to your contacts and VPAs only. And the same goes for Split Bill too.

UPI in PhonePe App

Now, here comes the best feature of PhonePe app. As already stated, PhonePe is a UPI based app. The UPI feature is truly a standout feature which makes digital payment a seamless experience. Using PhonePe UPI based payment system one can easily send or receive money; just enter a receiver’s mobile number/ VPA and send him/her money instantly into his bank a/c. In order to make UPI payment successful, you need to have a MPIN with you. MPIN stands for mobile personal identification number which is a 4-6 digit secret code issued by your bank when you sign up for mobile banking. This MPIN code is needed to authenticate all fund transfers made via mobile banking over the IMPS or UPI platform. When paying money to any contact, VPA or bank account in PhonePe app, you can easily make payment using the MPIN code provided by your bank for the same bank account which is linked to the PhonePe app. Money is debited easy and fast from the connected bank account. Below is a pictorial representation fo the same. Please note: MPIN should be kept secret. It should never be shared with anyone.

PhonePe eWallet

Now with such a seamless payment experience, why would you ever need a eWallet!! Just wondering if its really necessary. Anyways, PhonePe can also be used as eWallet. You can easily add money to the same from the linked bank account or any debit card. PhonePe also allows you to withdraw money from your eWallet to your bank account. Simply drag and drop the eWallet icon to your bank icon and its all done! Max. Rs.5000 can be withdrawn from your eWallet to the bank account.

So, you always have 2 options with you – either use your eWallet or pay directly from your bank account. The latter being 100% safe, 100% easy and really really fast. You can use the same to complete mobile recharge and pay utility bills. You can also recharge or pay utility bills using your debit/credit cards.

PhonePe QR Code

Another exciting feature of the PhonePe app is My QR Code. It is accessible under sidebar navigation menu from the app screen. If you are clicking on it for the first time, you will be able to create a QR code for your account which can be used to receive payments anytime.

You can also use PhonePe to make payments at Store. You can simply scan the QR code provided by the store and make the payment. So easy…Isn’t it? This feature is located at the bottom of the app screen.

Top Benefits of PhonePe

Overall, PhonePe app looks 100 times better than hoards of other digital payment applications. PhonePe is obviously more than a digital wallet and has certain benefits over other eWallet applications available in the market today. Below are the major benefits with the PhonePe app:

  • Higher transaction limits (30L/month as compared to 20K for wallets)
  • No need to pre-load money in wallet since the bank balance is used directly
  • Zero transaction charges for a lifetime (Wallets will have to pay transactional charges post-December 31)

Well, now the decision is yours. I do not see any reason not to have this application on my device. Its right there on top of my digital payment apps list. I am sure you also agree with me. If yes then why not give it a try and judge yourself!

Download the PhonePe App today!


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