PhonePe Company Overview


PhonePe is an Indian UPI-based payment app that has become a household name in India. Founded in 2015, it was acquired by Flipkart a year later and ushered in an era of growth for the company.

With over 43.5 crores (435+ Million) registered users, one in four Indians uses PhonePe. The company has successfully digitized over 35 million offline merchants spread across Tier 2, 3, and 4 cities, covering 99% of pin codes in the country.

How to use PhonePe?

The PhonePe app is a cashless payment system allowing users to pay for products and services online and offline stores. This app integrates with the Unified Payments Interface (UPI) and offers a secure, convenient transaction method.

It also allows business owners to quickly take payments for utility bills, employee wages, and client payment requests. The UPI-based process is faster, more secure, and eliminates the need to link bank accounts.

To use the UPI feature on PhonePe, you need an Indian bank account and a registered mobile number. Once you have these, you can use the PhonePe app to recharge your mobile phone and make purchases.

How to recharge your mobile?

Mobile recharge has become much easier with digital payment platforms such as PhonePe. These apps offer a simple and hassle-free recharge option that saves you the time and money you would otherwise have spent visiting physical stores to get your mobile recharged.

However, Walmart-owned PhonePe has announced that it will be charging a processing fee on mobile recharges over INR 50 for an experimental period. This fee applies only to mobile restores and won’t be applicable to all users initially.

How to purchase PhonePe?

PhonePe is a digital payment app that allows you to pay for goods and services online. It uses UPI (Unified Payment Interface) technology to ensure high transaction security.

You can use it to make payments for groceries, book tickets, pay bills, recharge your mobile, and many more. It has over 5 million transactions made so far and is available in 11 Indian languages.

PhonePe is easy, as you can transfer funds to anyone via your phone number or VPA (virtual payment address), a unique ID that lets you avoid giving out IFSC or account details when making a transaction.

How to split a bill on PhonePe?

When you are going out with friends or family, and you need to split a bill, PhonePe is the perfect solution. This application lets you quickly and efficiently split a bill for dinner, movies, or any other trip.

The application also allows users to send money to each other by using BHIM UPI or the PhonePe wallet. Moreover, it supports multiple bank accounts and credit/debit cards, making it convenient and secure.

Businesses can also utilize PhonePe to pay utility bills. This allows them to avoid disruptions in their operations. Moreover, they can also use the app to give their employees salaries.

What if funds are debited from my account, but it does not reach the payee due to some error?

If funds are debited from your account but, due to some error, it does not reach the payee, your bank must refund the amount. It should do this within 3 to 5 days from the date you made the payment.

However, if it takes more than a day to refund the amount, your bank may charge you a penalty. This is according to a circular issued by the Reserve Bank of India (RBI).

Is it necessary to have a bank account to use PhonePe?

PhonePe is an online mobile app that allows users to recharge their smartphones, pay bills, and purchase from several outlets. It also provides for UPI-based payments and instant money transfers.

Phonepe uses BHIM UPI to allow for easy and secure transactions. This is a government-backed platform that provides heightened security for all transactions.

Moreover, cash is unnecessary since a POS device is linked to one merchant, and transactions are completed when the customer enters their PIN code on the PhonePe app. This saves time and makes shopping much more convenient.