PhonePe – The best mobile payments app out there

PhonePe is a mobile payment solution provider or as the startup industry likes to call it a Fin-Tech company. PhonePe was acquired by Flipkart in its initial stages and that definitely helped it grow faster. But PhonePe founders Sameer Nigam and Rahul Chari have a great history with Flipkart as they became a part of Flipkart’s team when Flipkart acquired one of their digital distribution startup mime360 in 2011, later they left Flipkart to start PhonePe but they were soon called back home with an acquisition offer which I guess they happily accepted.

Sameer Nigam - Cofounder PhonePe
Sameer Nigam – Cofounder PhonePe

Rahul Chari - Cofounder PhonePe
Rahul Chari – Cofounder PhonePe








PhonePe is based on UPI (Unified Payment Interface) which is the latest platform offered by NPCI (National Payments Council of India) after great success with IMPS (Instant Mobile Payment System) in quench to make mobile payments even simpler and quicker.

If you were to send money to someone before UPI, you will need their bank account number, name on the account and the IFS Code if you were using NEFT/RTGS. And a combination of MMID and phone number or Account details and phone number if you were using IMPS.

But with UPI users can pay to the payee by knowing only one detail about them, their unique VPA (Virtual Payment Address) which looks like yourname@bankname.

UPI apps are offered by most of the UPI enabled bank but since PhonePe is not a bank they have partnered with Yes Bank to offer UPI payments so your VPA on PhonePe will generally look like yourname@ybl, YBL being a short form of Yes Bank Limited.

Now some of you might be thinking that this is what all other UPI apps like BHIM do and yes you are correct but PhonePe has some key differences and they go as:

  • Ability to choose the bank account you want to pay from, because why not?
  • Ability to Pay for daily utilities like mobile recharges, mobile bills, electricity bills, insurance, broadband, gas, DTH and more STRAIGHT from the bank account. (Yes! No need to add money to a wallet and then pay.)
  • Ability to get instant refunds and cashback from merchants like Flipkart, Mytnra, Jabong and many others straight to PhonePe wallet and to instantly withdraw your entire wallet balance to your UPI enabled bank account with just one swipe and that too free of cost!
  • Ability to split bills and settle them right away.
  • Support for local languages.

The below screenshots will give you an even better idea of how PhonePe works.

Choose from the list of UPI enabled banks
Choose from the list of UPI enabled banks


Main Screen
Main Screen
Send Money to a friend
Send Money to a friend

Give the app a try to know more and by the way, did I tell you that you can earn up to 150 rupees or 50% cashback (Real Money!) when you send money for the first time or do your first UPI payment.

Download the app from here.

Also, do let me know if you have any queries regarding the app will be more than happy to help.

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