Flipkart has recently acquired PhonePe, a mobile payment solution company. The company has launched a new digital payments service using the Unified Payment Interface (UPI) platform developed by the National Payments Corporation of India.
With UPI, users can transfer money to anyone else without entering account numbers or IFSC codes. In addition, it is possible to link multiple bank accounts and receive and send money instantly.
It is a mobile payment app
Flipkart phonepe is a UPI-based app that allows you to transfer money from your bank account without revealing your private details. It also lets you pay bills.
It can be used for online as well as offline transactions. It supports various payment modes, including credit cards, debit cards, and e-wallets.
PhonePe offers users a variety of features, such as UPI payments, bill payments, and mobile recharges. It also lets you link other digital wallets to its platform.
The company has partnered with over 2.5 crore merchants and kiranas across 15,700 cities and villages in India to allow them to accept payment from customers using the PhonePe app. This will help them digitize their businesses and increase their sales.
It is a digital wallet
PhonePe is a digital wallet that lets users send and receive money, recharge their mobile phones, data cards, or DTH, pay bills, purchase tickets and access a variety of e-services. It is based on the Unified Payments Interface (UPI) platform.
It is also used to pay for items on online marketplaces, such as Flipkart and Jabong. It also allows users to transfer funds between bank accounts.
The app has a QR code feature that allows users to send and receive money by scanning a barcode on the screen of their smartphone. It is the most secure way to send and receive money, as it does not involve any bank account or phone number details.
It also offers an array of cashback on transactions, which significantly benefits customers. For example, first-time users can get up to 30% cashback on their first mobile prepaid recharge. They can also earn additional cashback when paying on a Flipkart or Myntra order.
It is a mobile recharge app
Flipkart phonepe is a BHIM UPI-based mobile recharge and payment application launched by Flipkart in 2016. The app allows users to send money to friends, pay postpaid bills, recharge prepaid mobile numbers and data cards, and pay utility bills.
PhonePe is available in 11 languages and has more than 280 million active users. It is free to use and offers various features.
Recently, it has launched a home delivery service called “Stores.” This feature lists operational stores that deliver home in different locations across India.
As per a report in Quartz, Flipkart is planning to launch a UPI-based payment service that will allow customers to make instant payments without sharing their bank details. It is partnering with Yes Bank to provide this service.
PhonePe is a cashless digital payments solution available for customers on Flipkart and Myntra. It will be based on the Unified Payments Interface (UPI), a set of government programs and technologies enabling companies to offer payment services in India without using Aadhaar.
It is a bill payment app
The PhonePe app is a UPI-based mobile payment and bill payment platform developed by Flipkart. It helps you send or receive money from anyone, pay your bills, and easily recharge your mobile number, data card, and DTH connections with a button tap.
You can also use it to make instant money transfers from your bank account to any other user’s account. All you have to do is enter their mobile number or unique payment identity – VPA (virtual payment address) and the money will be transferred instantly into your account.
In addition, you can also receive cashback from merchant partners in your PhonePe wallet and split your bills with your friends. It is a safe and secure way to transfer money without using your bank details or accounts.
The app is free to download and use and compatible with most smartphones. In addition, you can enjoy discounts and offers on your favorite online shopping sites like Flipkart, Myntra, Jabong, and Zopnow.