PhonePe: Covid has expanded online transactions in the country. The number of mobile wallet clients has expanded dramatically as an ever-increasing number of individuals are moving towards digital transactions for the greater part of payments. The Reserve Bank of India has given information and said that the transactions from both mobile wallets and PPI cards expanded by 45.3 percent.
Indeed, with regards to mobile wallets, PhonePe has acquired over 6 crores of customers to itself. PhonePe was established in December 2015, by Sameer Nigam, Rahul Chari, and Burzin Engineer. The PhonePe app, in light of the Unified Payments Interface (UPI), went live in August 2016. This app empowers you to make and move payments starting with one account then onto the next account.
Phonepe is a UPI app that can be utilized for cash transfers. Utilizing PhonePe, clients can send and receive cash, recharge mobile, DTH, information cards, make utility payments, pay at shops, invest in tax saving funds, liquid Funds, purchase insurance and mutual funds, and gold. Moreover, PhonePe additionally permits clients to book Ola rides, pay for Redbus tickets, and book flights and hotels on Goibibo through the Switch platform.
PhonePe is acknowledged as a payment choice at over 17.5 million offline and online shipper outlets across 500 urban areas in India covering food, travel, groceries, drugs, film tickets, and so on. The app crossed the 100 million client mark in June 2018 and furthermore crossed 5 billion transactions in December 2019. It right now has more than 280 million clients. The organization unveiled the PhonePe ATM in January 2020. The PhonePe ATM permits nearby Kirana stores to administer cash continuously to customers.
PhonePe is licensed by the Reserve Bank of India for issuance and operation of a Semi-Closed Prepaid Payment system with Authorization Number: 75/2014 dated 22 August 2014.
The primary features of PhonePe are:
• Credit and Debit Card Linking
• Bank Balance Check
• Money Storage
• App to Bank Account
• Send and Receive Money
• POS Payments
• PIN Authorization
• Bank Account Linking
• Wallet Top Ups
As of now, PhonePe doesn’t charge a single thing from its clients for making payments, regardless of whether it is P2P or to vendors.
PhonePe Daily Transaction Limit
The Phonepe App is an extraordinary method to make secure, fast transactions. You can without much of a stretch link your bank account or credit card and send cash with only a single click! Be that as it may, there are a few limits you should think about prior to utilizing the app.
There’s a singular transaction limit of Rs.1 lakh each day just as 20 UPI transactions each day that apply to all connected accounts on this platform.
• Maximum Amount Per transaction = Rs.1 Lakh
• Maximum Amount can be paid in a day = Rs.1 lakh
• Maximum Number of Phonepe Transaction limit in 24 hours = 10 or 20 (depending).
It ought to be noticed that, according to the most recent government request, the Phonepe UPI app will permit you to make transactions up to Rs. 3 lakhs each day. This is an immense change by the way we utilize our cash and associate with banks! Nonetheless, this has not been actuated at this point.
PhonePe Customer Care
The organization is giving two numbers to your help, i.e, 080 – 68727374 or 022 – 68727374. Aside from that, PhonePe permits you to mail on support.phonepe.com, and you can likewise make a solicitation by means of a message.
- email@example.com (Customer Support)
- firstname.lastname@example.org (Business Enquiry)
- email@example.com (Security related queries)
How to Change PhonePe UPI Pin?
Step 1: First, you need to open the menu at the right corner of the screen.
Step 2: You need to click on the Bank Account section, then, at that point, you will see all accounts that are linked with the wallet.
Step 3: After that, you need to select the bank account in which you need to change the PIN.
Step 4: Then, the app permits you to change the password, and you will see the reset button.
Step 5: After that, you need to click on the button and enter the last digit of your cards (Debit and Credit cards) alongside the expiry date inscribed on the cards, and assuming there is no that date, you need to enter 00/49.
Step 6: You’ll receive OTP from the bank, then, at that point, you need to enter the OTP alongside the new PIN.
How to Check Bank Balance in PhonePe?
1. Launch the PhonePe app on your telephone Android or iOS.
2. Now tap on Bank Balance in the Transfer Money area on the home screen of the app.
3. Select the bank account for which you’d prefer to check the balance.
4. Then enter the BHIM UPI PIN for that account.
5. Your bank balance will be shown on the screen.
More Articles: Financial Solving