After demonetization our PM Shri. Narinder Modi focused on a term called ‘Cashless Payment’. So here we are focusing on PhonePe App by Yes Bank and How to use Phonepe App.
So what is ‘Cashless Payment’: Cashless payment is making a digital transaction through your bank accounts. In layman language, we can say paying someone by putting money directly into his/her bank account. So by this means we are not giving money into his hand but his bank account.
Unified Payment System (UPI): the PhonePe app works on UPI system. So you can transfer money from your account to any other person’s bank account and that too very fast (within 1 Minute).
******How to Install PhonePe App******
- Install PhonePe app. PhonePe app also runs on iPhone.
- Click on LET’S GET STARTED.
- The app will ask you to add you phone number. (Important Note: Add your mobile number linked to your bank account. If you don’t add your mobile number linked to your account, the app won’t accept this number.)
- Now you have to click on a button saying ‘SEND SMS‘ to verify phone number.
- Here you will be redirected to a new page asking for your Name, Email, and password. Now activate your PhonePe wallet.
- Now generate your new VPA.
- Select your bank and app will do the rest,
- Your PhonePe wallet is ready to be used.
****** How to use PhonePe App ******
Here we will discuss how to use PhonePe App in terms of adding money to your PhonePe wallet.
- Home screen of PhonePe App
- Click on the Three lines on the top left.
- After this, a list will appear. Click on Wallet.
- Now you will have two options( withdraw or top up).
- Slide left to go to top up.
- Enter the amount.
- Select UPI option. You will see a green tick after your bank account number.
- Lastly, click on ‘TOPUP WALLET‘.
- You will receive money in your wallet instantly.
This is all about how to use PhonePe app and TOPUP PhonePe wallet from your bank account.
About PhonePe App
- PhonePe App works on UPI system which is developed by NPCI (National Payment Corporation Of India).
- NPCI makes this app very much secure to use.
- It is better than mobile banking as you just need the mobile number(linked to the account) or a VPA (Virtual Private address/ UPI PIN).
- You can do much more than just transferring money to bank accounts.
- Pay DTH bill, electricity bill and more.