February 9, 2025 · 12 mins read
Santosh Kumar
PhonePe, the ultimate mode of payment available for the citizens of India, is a Financial Services Company. Founded in the month of December 2015, PhonePe was an initiative to make digital payments easy, safe and universally accepted in India. Every second person, from a white colour to a blue colour, uses a digital mode of payment, and that exactly was what PhonePe focused on; PhonePe wanted to create a payment ecosystem where people didn't have the need to carry hard cash or a wallet, for that matter.
PhonePe is an Application that can be downloaded from the Google Play and iOS App Store. Just head to the store and, type PhonePe and put it for download.
The PhonePe app offers several functions, including making payments on the app, setting up a UPI ID and a UPI ID PIN, and making payments on Online Stores, e-commerce websites, and offline stores like shops. The user must have an Indian contact number, a bank account, and a smartphone. The following explains how to create a UPI Account on PhonePe and how to link the Bank Account to the created PhonePe UPI account.
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To create a PhonePe UPI ID for a Bank Account, users are required to follow the following steps:
1: Download the PhonePe App
2: Click on the profile picture which is located on the top right of the screen.
3: Under Payments Method, select the Bank Account.
4: Tap "+," which is placed next to the UPI handle.
5: Click on Create at the bottom of the page.
With these steps, users can create a unique UPI ID as per the existing guidelines.
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On PhonePe, users can create a PhonePe UPI ID & PhonePe UPI ID PIN by using their debit card or the Aadhaar Card. Below are steps to follow if a user wants to set up a PhonePe UPI ID PIN using a Debit Card:
1: Enter the PhonePe App
2: Go to the Money Page
3: Click on Bank Accounts
4: Opt for your Bank Account
5: Opt for the account that requires the creation of a PhonePe UPI ID PIN.
6: Select Set or Reset
7: Put in the information on the Debit Card
8: Enter the OTP sent to the registered contact number
9: Enter a NEW UPI PIN & re-enter the new UPI PIN
10: Click on Confirm and select Submit.
If users want to set up a PhonePe UPI ID PIN using their Aadhar card, they can follow the steps mentioned below.
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1: Click on My Money Page on the PhonePe App
2: Select the Option Bank Accounts
3: Opt for the bank that is linked to the UPI ID
4: Select the Option Set or Reset
5: Here, select the Aadhaar Card
6: The first six digits must be entered of the Aadhaar Card number
7: Very the Mobile Number and the Aadhaar Card
8: Enter the OTP sent to the contact number for successful verification
9: Set a UPI PIN that is secured, and it must be reliably entered for confirmation
10: Click on Confirm.
Once the PhonePe UPI ID & PIN are created, users can begin making payments to other bank accounts.
A few banks are listed on the PhonePe app in order to link the Bank account to PhonePe, and they are,
1: YES Bank
2: ICICI Bank
3: Axis Bank
PhonePe only lists a Bank if it supports NetBanking. Users can try using a different bank account if, by any chance, a Bank account is not found or try another payment method.
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Once the ID is created, users can begin using it. An example of the UPI ID format is “1234567890@xyz” for PhonePe.
Users can use PhonePe UPI ID to pay on e-commerce websites, online stores, shops and offline stores. To use the PhonePe UPI ID, users can follow the steps mentioned below:
1: Go to the PhonePe app.
2: Choose the contact number under "Transfer Money."
3: Enter the phone number to search contact to make the payment to.
4: Enter the amount to be paid.
5: Click on “Pay”
6: Enter the UPI ID PIN.
The quickest payment method for anybody with a smartphone and a Bank Account only helps people pay bills, make recharges, take a loan, and send large amounts of money on time, quickly and easily.
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Users with a PhonePe UPI ID can also make international payment transactions. Countries that fall under this category are Singapore, the United Arab Emirates (UAE), Bhutan, Nepal, Sri Lanka, and France.
To activate the PhonePe UPI ID, users are required to follow the steps mentioned below:
1: Go to the PhonePe app
2: Click on the profile picture, which is located in the top right corner of the screen.
3: Under Payment Management, select "International."
4: Next to the chosen bank account, select "Activate."
5: Enter the PhonePe UPI ID PIN
Payments can also be made through the merchant’s local QR Code which is situated in the PhonePe app.
Users can also deactivate the PhonePe UPI ID International feature in the Settings on the PhonePe App before the three months are up.
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In many cases, users forget the PhonePe UPI PIN. This can be solved by resetting the PhonePe UPI PIN on the PhonePe app. The following steps can be followed to reset a PhonePe UPI ID PIN.
1: Open the PhonePe App
2: Head to the Money Page
3: Click on Bank Accounts
4: Opt for a Bank Account that needs to be reset.
5: Click on reset
6: Enter the Debit Card details
7: An OTP shall be sent to the registered contact number
8: Enter a NEW PhonePe UPI PIN
9: Re-enter the PhonePe UPI PIN and click on Confirm
If users do not have a debit card to rest the PhonePe UPI PIN, the Aadhaar Card can be used as well.
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In any case of payment refund, PhonePe takes some time to receive the refund, as it all depends on the original payment method. If the user has selected the PhonePe UPI mode of payment, the PhonePe money refund time shall reflect within 3 to 5 working days in the account.
However, if the user opts for PhonePe Wallet while making a transaction, the PhonePe money refund time will usually be within 24 hours. If the user opts for a credit or debit card while making a transaction, the PhonePe money refund time will be within 7 to 9 working days.
If the user does not receive the refund within the mentioned time frame, the following steps can be followed:
1: Users can contact Customer Support if the refund hasn't been reflected within the given time frame.
2: Users can also use their UTR number and contact the bank for a refund.
3: Users are requested to wait up to 9 days if the refund is marked as "Successful" but hasn't been reflected in their accounts.
Users can contact the bank once again if the refund amount has not been reflected in their accounts even after 9 days.
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The customer support contact number is 08081-496180, where users can solve their queries by speaking to agents. Users can also contact customer support via Email and the PhonePe Application.
To file a complaint through the PhonePe App, users can do the following:
1: Go to the PhonePe app
2: Head to the Transactions section
3: View Transaction details
4: Report an issue by entering any required details.
Users have often asked if transactions can be reversed once they have been made. The answer is No. Usually, it is not possible to reverse a payment on the PhonePe app if the money has been sent to the wrong number.
However, users can contact Customer Support to raise a complaint and find a solution.
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Many times, users make a payment and, once approved, try to cancel the transaction. On PhonePe, once a user has made a transaction, the payment can not be reversed. Once approved, the payment can not be cancelled either. If the payment is still Pending or processing, the user may be able to halt the payment.
If a user makes a wrong payment, such as to the wrong UPI ID, Contact Number, or amount, a refund can be requested on the PhonePe App.
1: After entering the PhonePe app, go to the Transaction History.
2: Look for the transaction that needs to be requested for a refund.
3: Click on Request Refund, Or An Issue can be Reported.
4: Enter the transaction details, such as the date, amount, and receiver's information.
5: The refund requests will be sent to the user's email by PhonePe.
Successful money refunds are usually reflected in the user's original account. For example, if the user has made a wrong payment on an e-commerce website or another app, the refund amount will be sent to the original account that was used to make the payment in the first place.
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No matter how fast the world gets, online transactions involving many payment networks can sound risky. The user is always looking for proof regarding safety and security while mentioning any debit card and credit card details for making online payments. It is known that PhonePe utilizes multiple security measures in order to protect user data and transactions. These multiple measures include Encryption, Authentication and Fraud Detection.
PhonePe uses Secure banking networks to process payments.
1: PhonePe requires a fingerprint, Face ID, UPI PIN, and password to authenticate payments.
2: PhonePe stores no user data or passwords.
PhonePe uses Fraud Detection to identify any type of suspicious activity.
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It is safe to say that PhonePe is one of the quickest money transfer platforms in the country and is used by every second citizen. The advantages attached to a PhonePe Account to make payments cannot get more affordable, instant, and convenient. Users are allowed to make payments to merchants directly to their bank account, users can do bank transfers on PhonePe, and PhonePe UPI payments can be made at any time.
To authenticate the PhonePe UPI, a PhonePe UPI must be created along with a PhonePe UPI ID PIN. All of the above can be conducted on the PhonePe Application. The entire process is free of charge, as users do not have to pay any amount to create an account or send and receive money to other bank accounts. The PhonePe UPI ID can be used internationally to make payments if the user turns on the PhonePe UPI International.
Not many are aware that PhonePe was built and launched in December 2015 and was acquired by Flipkart in April 2016.
If, in any case, the user conducts a wrong transaction and requires a refund, the refund time will depend on the payment method used, like Wallet, UPI or Credit Card and Debit Card. If the user has paid using the PhonePe Wallet, the refund shall be processed within 24 hours. If the user has opted for the UPI mode of payment, the refund will be reflected within 3 to 5 business days. The refund shall be reflected within 7 to 9 working business days if the user uses credit or debit cards to make payments.
Q1. How to find the PhonePe UPI ID?
Ans: Head to the PhonePe app, go to the profile and head to the UPI IDs section.
Q2. Can multiple UPI IDs be created in PhonePe?
Ans: PhonePe allows its users to hold multiple UPI IDs for the same bank account on PhonePe.
Q3. Is it safe to share the PhonePe UPI ID?
Ans: Sharing the PhonePe UPI ID is usually safe as no sensitive information is revealed, like the Bank Account.
Q4. What is the use of UPI ID in PhonePe?
Ans: The primary use of the UPI ID on PhonePe is to send money and receive money.
Q5. How can I report a fraud on PhonePe?
Ans: To report fraud on the PhonePe app, the user must contact Customer Support via the contact number mentioned in the Help Centre or or via the email ID mentioned in the app. Users can also read the Frequently Asked Questions to answer their queries.
Q6. After I made the payment, can anybody see the transaction details?
Ans: Only the receiver and the sender can see the transaction details once the payment is made.
Q7. Where Can a user make payments through the PhonePe UPI?
Ans: Users can make payments through the PhonePe app while shopping on e-commerce websites or online shopping apps during checkout. They can also make payments via PhonePe UPI in many offline stores. Shops have a QR Code for customers to opt for such an instant mode of payment.
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