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PhonePe : The New Wallet from FlipKart


India’s largest e-commerce firm Flipkart recently introduced a mobile wallet PhonePe. The mobile wallet works over Unified Payments Interface, more popularly known as UPI and has been launched in association with Yes Bank.


Throwing more light on the app, it is a revolutionary way of making secure mobile payments. This app lets you make instant inter and intra-bank transfers by linking bank accounts over UPI. The transaction can be carried out securely by using a mobile number or a unique payment identity number which is a user’s own Virtual Payment Address (VPA). With PhonePe you can enjoy cashback and discounts from merchant partners while money in the wallet can either be spent via wallet or transferred to linked bank accounts.
PhonePe is a huge competitor to existing wallet giants in the market like Paytm, Freecharge, and Mobikwick. Let us have a quick look into PhonePe’s points of difference when compared with the existing competitors.
  1. Higher transaction limit, i.e., up to 30 lac per month while other wallets offer only 20 thousand to be transacted in a month, with a limit of up to 1 lac per day.
  2. Bank account is directly linked with the wallet and there is absolutely no need to pre-load money. A direct transaction from bank account is easy and usually instant.
  3. As per new government policy, e-wallets will be charged transactional charges post December 31st, but PhonePe has zero transaction fees for a lifetime.


Apart from above mentioned unique features, PhonePe is loaded with a plethora of new features.
  1. User can shop on Flipkart and soon can buy on Myntra, Jabong, and other e-retailers.
  2. Wallet money can be instantly transferred to linked bank accounts with a single swipe.
  3. Refunds and cashback from merchant partners are immediately credited to the wallet.
  4. Get an opportunity to split bills amongst friends.
  5. Utility bills like electricity, mobile bill payments, DTH, Landline, Datacard, etc., can be easily paid.
  6. Request and send money to people in your contact list and settle your dues right away.
  7. Get flexibility to partially pay via wallet money or a payment method of your choice.
  8. Transfer from your wallet to your friends’.
  9. Get into your comfort zone by transacting in your regional languages of Hindi, Tamil, Bengali and Marathi while more languages will be added soon.
At present as many as 31 banks are UPI enabled and more soon to join the league.

Keep aside the apprehensions relating to the security of your money as all transactions are extremely secure being carried out on NPCI secured network. All of the above-mentioned features are very easy to perform as UI is simplistic enough and money can be transacted by following instructions on the app.

The app is available for download at Google PlayStore.

Do share your experiences with the app in comments down below.

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