Phonepe

In March 2021, Walmart-owned homegrown payments company PhonePe became the first platform to cross one billion transactions powered by Unified Payments Interface (UPI), the government-backed digital payment mechanism. Overall, it clocked almost 1.3 billion transactions across all the payment offerings on its platform that include third party debit or credit cards and its own digital wallet, aside from UPI. The six-year-old firm, which had been growing in the shadows, has finally started to show its teeth, since late last year. In December, it managed to surpass Google Pay in UPI transactions, while homegrown fintech decacorn Paytm lagged far behind both of its rivals. PhonePe has held on to its top position firmly since then. Interestingly, PhonePe was the first non-banking entity to launch a UPI app in August 2016, merely four months after the National Payments Corporation of India (NPCI), a government-backed consortium of banks, introduced it. It was only a year later that Google Pay and Paytm entered the UPI space. At the time, PhonePe was eight months old and had already been bought out by e-tailer Flipkart, which was later acquired by Walmart in 2018 for a whopping USD 16 billion. As UPI emerged as the most used payment tool for millions of Indians over the last few years, it became an important hook for the payments companies to lure users and merchants on their platforms. PhonePe has since been fighting tooth and nail with its deep-pocketed rivals to grab a bigger p...

Is PhonePe a government app? Officially known as “PhonePe – UPI, Recharges, Investments & Insurance,” PhonePe is an online payments app that combines all of your banking transactions in one place. With it, you can manage your credit and debit cards easily, as well as pay bills via your mobile device. Additionally, the app allows the setting up of investments and insurance, so you don’t have to use other platforms for these more complicated transactions. This online payment service was founded in 2015 as a private financial service business. As it is based on the Unified Payments Interface (UPI), which is an instant real-time payment system developed and approved by the banks of India, you can do banking transactions without much hassle. The app is basically licensed by the government but doesn’t rely on it for everything and is more of an independent e-commerce platform. Is the PhonePe app safe? Since PhonePe is a UPI-based mobile payment app, you can expect transactions to be secure. You can do the usual money-sending and requests from your contacts, and you can transfer funds via mobile numbers and bank accounts, too. The app lets you use BHIM UPI—BHIM being another Indian mobile payment—and this is great for checking your account balances, beneficiaries, and such as this app is affiliated with other banks. Additionally, you can recharge your mobile and internet connection credits using the app. If you have any credit bills and utility bills due, you can pay them off and...

Send money to any mobile number or bank account. Get exciting offers on recharges & bill payments. Buy insurance and pay at any online and offline outlet. PhonePe is a leading online payment app & a UPI enabled initiative that allows users to make payments seamlessly in India. Use the app for instant money transfers with UPI, mobile & DTH recharge, & utility bill payments like gas, water & electricity. You can also get Insurance (car, health, bike, travel, life, accident) & make broadband payments, invest in tax-saving mutual funds, or Gold. Make instant payments on food, travel, grocery, & shopping apps without downloading them. Things you can do on PhonePe (Phonepay) App Bank to Bank Money Transfer, BHIM UPI Payment App - Instant Money Transfer using BHIM UPI from one phone number to another, or to bank accounts without using IFSC code - Save beneficiaries, check, & manage multiple bank accounts across different banks like SBI, HDFC, ICICI bank & 140+ banks Easy Online Payments - Pay online across different online shopping sites like Flipkart, Amazon, Myntra etc - Order food online from Zomato, Swigs etc - Shop daily essentials online like grocery from Bigbasket, etc - Make travel bookings to your favourite destinations (domestic & international) via popular sites like Makemytrip, Goibibo etc Buy or Renew Insurance - Car Insurance: Get full protection for 3rd Party damages via our car insurance app - Bike Insurance: Protect your two-wheeler via our bike insurance app - H...