PhonePe

Q: What is PhonePe?

A: PhonePe is a digital payments platform and mobile app that allows users to send and receive money, pay bills, and make online purchases. It was launched in India in 2016 and has since become one of the most popular digital payment platforms in the country. PhonePe is backed by the Indian e-commerce giant Flipkart and is regulated by the Reserve Bank of India. The app uses the Unified Payments Interface (UPI) to enable seamless and instant transactions between bank accounts.

Q: How do I create a PhonePe account?

A: Creating a PhonePe account is simple and free. Download the app from the App Store or Google Play Store and follow the on-screen instructions. You will need to provide your phone number, bank details, and verify your identity through OTP.

Q: What is the PhonePe Refer and Earn offer?

A: The PhonePe Refer and Earn offer allows you to earn cashback by inviting your friends and family to join PhonePe and make their first UPI transaction. When your friend uses your referral link to download and install PhonePe, and completes their first UPI transaction, both you and your friend will receive a cashback reward.

Q: How much cashback can I earn through PhonePe?

A: Currently, the PhonePe Refer and Earn offer allows you to earn a cashback of Rs. 100 when your friend completes their first UPI transaction using your referral link. The amount of cashback can change from time to time, so it's best to check the latest offer on the PhonePe app or website.

Q: Who is eligible for the PhonePe Refer and Earn offer?

A: This offer is available to select PhonePe users. You can check if you are eligible by opening the PhonePe app and going to the "Refer and Earn" section.

Q: How do I refer my friends and family on PhonePe?

A: Here's how you can refer your friends and family to PhonePe:

• Open the PhonePe app.

• Tap on the "Refer and Earn" section.

• Share your unique referral link with your friends and family via your preferred method (e.g., WhatsApp, SMS, social media).

When your friend clicks on your referral link and downloads the PhonePe app, they will be automatically credited with the referral bonus.

Q: What does my friend need to do to earn the cashback on PhonePe?

A: Your friend needs to do the following to earn the cashback reward:

• Download the PhonePe app using your referral link.

• Complete their KYC verification.

• Make their first UPI transaction using the PhonePe app.

Q: When will I receive the PhonePe cashback?

A: The cashback will be credited to your PhonePe wallet within 24 hours of your friend completing their first UPI transaction.

Q: Can I use the PhonePe cashback immediately?

A: Yes, the cashback can be used immediately for any transaction on PhonePe, including mobile recharges, bill payments, online shopping, and money transfers.

Q: How many friends can I refer PhonePe?

A: There is no limit to the number of friends you can refer. However, the offer is only valid for new PhonePe users who have not previously used the app.

Q: What if my friend doesn't receive the cashback?

A: If your friend has not received the cashback within 24 hours of completing their first UPI transaction, they can contact PhonePe customer support for assistance.

Q: Is there a limit to the number of times I can use the "PhonePe Refer and Earn" offer?

A: There is no limit to the number of times you can use the "Refer and Earn" offer as long as you are referring new PhonePe users.

Q: How do I link my bank account to PhonePe?

A: To link your bank account, go to the "My Money" section in the app and tap on "Add Bank Account." Select your bank from the list, enter your account details, and verify your account using OTP. You can link multiple bank accounts to your PhonePe account.

Q: How do I send money using PhonePe?

A: Open the PhonePe app and tap on the "Send Money" option. Select the recipient from your contact list or enter their UPI ID, phone number, or bank account details. Enter the amount you want to send and tap on "Send." You will be prompted to enter your UPI PIN for confirmation.

Q: How do I receive money using PhonePe?

A: When someone sends you money, you will receive a notification on your phone. You can view the transaction details and accept the money by entering your UPI PIN. The money will be credited to your linked bank account instantly.

Q: How do I pay bills using PhonePe?

A: Open the PhonePe app and tap on the "Recharge & Pay Bills" section. Select the biller category (Electricity, Gas, Water, etc.) and choose your biller. Enter your account number or other required details and the amount you want to pay. Tap on "Pay" and confirm the transaction with your UPI PIN.

Q: What is PhonePe Wallet and how does it work?

A: PhonePe Wallet is a prepaid payment instrument issued by PhonePe, regulated by the Reserve Bank of India (RBI). It allows you to store money electronically and use it for various transactions like:

• Sending and receiving money: Transfer funds instantly to other PhonePe users or bank accounts.

• Mobile recharges and bill payments: Recharge your mobile phone, pay electricity, water, gas, and other bills.

• Shopping and payments: Pay at online stores, restaurants, fuel stations, and other merchants using PhonePe QR code or online payment options.

• Investing and insurance: Invest in mutual funds, buy insurance policies, and pay premiums directly through your PhonePe Wallet.

Here's how it works:

• Download the PhonePe app on your smartphone and register using your mobile number.

• Link your bank account to your PhonePe Wallet. You can do this instantly using your debit card details or by completing a bank verification process.

• Add money to your PhonePe Wallet by transferring funds from your linked bank account, using UPI, or debit/credit cards.

• Use your PhonePe Wallet for various transactions by entering your 4-digit PIN or using other authentication methods like fingerprint or face ID.

Q: What are the different types of PhonePe Wallets and their limits?

A: There are three types of PhonePe Wallets, each with different KYC (Know Your Customer) requirements and transaction limits:

a. Minimum Details Wallet:

• Requires only mobile number verification.

• Maximum wallet balance: ₹10,000.

• Daily transaction limit: ₹1,000.

b. Full KYC Wallet:

• Requires completion of full KYC verification with Aadhaar and PAN details.

• Maximum wallet balance: ₹2,00,000.

• Daily transaction limit: ₹1,00,000.

c. Full KYC - Non F2F Wallet:

• Requires completion of full KYC verification using Aadhaar OTP instead of video call.

• Maximum wallet balance: ₹2,00,000.

• Daily transaction limit: ₹1,00,000.

Note: The transaction limits mentioned above are for individual transactions. You can avail a higher monthly limit by completing additional verification steps.

Q: How do I recharge my mobile phone using PhonePe?

A: Open the PhonePe app and tap on the "Recharge & Pay Bills" section. Select "Mobile Recharge" and choose your mobile operator. Enter your mobile number and the recharge amount. Tap on "Recharge" and confirm the transaction with your UPI PIN.

Q: How do I shop online using PhonePe?

A: Many online shopping websites and apps accept PhonePe as a payment method. During checkout, select PhonePe as your payment option and enter your UPI ID or phone number linked to your PhonePe account. You will be redirected to the PhonePe app to complete the transaction using your UPI PIN.

Q: What is UPI Lite on PhonePe?

A: UPI Lite is a feature within PhonePe that enables smaller and faster transactions without debiting from your bank account immediately. You can create a UPI Lite balance within your PhonePe app and use it for transactions up to Rs. 200. The balance gets automatically deducted from your linked bank account at regular intervals.

Q: What are PhonePe Switch and PhonePe Gold?

A: PhonePe Switch is a virtual debit card within the PhonePe app that allows you to make online payments using your PhonePe balance. PhonePe Gold is a subscription service that offers cashback, discounts, and other benefits on various transactions.

Q: How do I set up recurring payments on PhonePe?

A: PhonePe allows you to set up recurring payments for various bills and subscriptions. Go to the "Bill Payments" section and choose the biller or service. Select the "Set Up Recurring" option and choose the payment frequency and amount. You will need to authorize the recurring mandate using your UPI PIN.

Q: What are the security features of PhonePe?

A: PhonePe employs various security features to ensure the safety of your money and data. These include UPI PIN, app lock, transaction alerts, and multi-factor authentication.

Q: What is the customer support for PhonePe?

A: PhonePe offers 24/7 customer support through various channels. You can contact them via live chat, email, or phone call. You can also find answers to your questions in their extensive FAQ section on the PhonePe website.

Q: What are the charges and fees for using PhonePe?

A: Most basic transactions like sending and receiving money, recharging mobile phones, and bill payments are free. However, charges may apply for certain transactions like cash withdrawals, international money transfers, and payments to merchants that charge convenience fees.

Q: What are the alternatives to PhonePe?

A: Some popular alternatives to PhonePe include Google Pay, Paytm, Amazon Pay, and BHIM UPI. Each platform has its own features and benefits, so it's worth comparing them before choosing the one that best suits your needs.