Phonepe : An standalone payment app
- 8 September 2019 | 2439 Views | By Mint2Save
Phonepe – One of the country’s first apps to support and promote UPI payments even before the government publicly promoted the use of UPI as a payment method. It was started by two ex-Flipkart employees, later on, which was brought out by Flipkart and integrated within its e-commerce platform as well as making it a standalone app.
Phonepe has numerous features. So let’s drill down and get to know some of them in detail.
- Municipal taxes
Pay all your municipal taxes in a breeze with Phonepe, just click on Municipal tax button, select your municipal authority, enter the desired amount and you’re done with your dues!
- Credit card bills
Phonepe was one of the first wallet providers to partner with Visa to provide credit card bill payments on its app. All you have to do is just enter your Credit Card number (does not matter if it is a Visa, MasterCard or American Express because Phonepe supports all of them now!): enter the amount you have to pay and enter your UPI credentials, credit card bill payments have never been so easy!
- Payment reminders
once you do a bill payment you can conveniently set reminders for that bill on Phonepe, as the application stores all the bill details making it easier for you to pay your bill the next time without fetching the details or remembering them. It keeps checking in the background as and when the bill gets generated and it immediately notifies the user about the bill the amount and due date so that the user can pay instantly and avoid late payment penalties.
Just like a bank, you can also instruct your wallet to automatically pay your bills as when they get due! Yes, that’s true, no more remembering the number of bills that you have to pay before the due date, also avoiding the hassle of late fees. Just set the instructions in Auto-pay button under the My money and you’re good to go.
- Not Just UPI!
Although when Phonepe was started, in the roots and the heart was UPI as its de-facto payment mechanism. But it quickly spiralled out other payment options such as credit cards, debit cards and net banking to promote digital payments and bring more users to its platform. This is a very important step where unlike Google pay which uses UPI as the only form of payment, whereas Phonepe encourages not just payment through UPI but through other modes as well, giving more flexibility and options to users.
- Integration with other wallets
To ease the burden on consumers, RBI or the Reserve Bank of India came out with the notification directing wallets to interlink their accounts. In other words, a user should be seamlessly able to transfer the wallet amount from one wallet app to another, that means if I have some amount in my Oxigen wallet or Jio wallet I can transfer it to Phonepe without any hassles. All the major wallet providers did not welcome this decision, Phonepe on the other hand happily agreed to it and even integrated other wallets, you now just need to link your wallet with this app and you can seamlessly transfer money between the two wallets.
- Self Account transfer
Remember the time when you had to transfer amount from one of your bank accounts to another? You had to follow so many steps and procedures. Well now no more waiting, because with Phonepe you can link multiple bank accounts and transfer money from one bank account to another seamlessly with a click of a button. This is one of the most unique features of this app has which although goes out very unnoticed but is important for multiple account holders!
With all the talk of going cashless and ditching your wallet for your mobile phone, is it all really possible?? How will you be able to pay to even the smallest of stores and to add to that which stores accept payments digitally around you? To solve this problem Phonepe came out with location mapping of its own on merchants around the country to accept payments through Phonepe. How can you leverage this? Simply go under the stores’ tab, it will ask for your permission to access your location using that it will tell you to the nearest stores around you which accept payments through Phonepe. No more finding which Store accept payment through mobile just locate a store near you and shop there without your wallet!
- Gift card
Confused about what to gift your friend on his / her birthday this time? Phonepe has solved your problem yet again! This time you can buy any gift card of your choice and amount and gift them. The choice is not limited to getting a Phonepe gift card, but options include various brands like Uber, Big Bazaar, Barbeque Nation, the man company, MakeMyTrip, Goibibo, Flipkart, fabindia, United colours of Benetton, and the list goes on and on and on, basically all the established brands that you know no you can get a gift voucher from Phonepe, without going anywhere! Guess what, gifting problems solved…..forever!!
- Apps on Phonepe
One of the most unique features and the most ambitious project of this application, the presence of other applications integrated into its own application. Perhaps one of the most standout features and for which I continuously use Phonepe every time because I don’t need any other app! With the apps feature, Phonepe has integrated the web versions (or progressive web application in technical lingo) of the app in its own application. Just to make things easier, imagine you want to book a cab, you open PhonePe, go to the Apps tab on Phonepe and select Ola cabs, the ola cab application opens inside of Phonepe and you can go on with your usual process of booking the cab, just that the end payment option is handled by Phonepe itself. Travelling somewhere? Want to get your tickets done? No problem! Head over to the MakeMyTrip or Goibibo application on Phonepe and book your tickets through that app by paying through Phonepe. Want to book an appointment with the doctor immediately? Open the docs app on Phonepe and book your appointment by paying through Phonepe. Want to book train tickets? No problem, the IRCTC website is directly integrated into the Phonepe app just enter your details, select the train and pay the amount via Phonepe and you are done. That’s not it! there are dozens of other apps like daily objects, Oyo rooms, Zivame, Magicpin.
They even have a My Mandir (temple) application where you can donate money to your choice of mandir through Phonepe payment mechanism of course! No need to download, update or switch to another app- everything is handled by Phonepe itself! This is something truly magical and unique concept!
Know any other ideas and features of Phonepe which we did not mention above? Give a shoutout in the comments below!