PhonePe : The best UPI app out there
In my last post, I talked about UPI, the new way of transferring money. Before we get started with UPI, let's quickly run through what needs to be done to get your UPI up and running.
The very first step is choosing your UPI app. Like digital wallets, we have a number of UPI apps too. There are many apps developed by banks and there are many being developed by private players as well. I tried out some of them (Axis Pay, ICICI's iMobile, pockets) before coming across PhonePe, which according to me seems to be the best app in the UPI space, and given below are the reasons for the same.
1) Multiple bank account linkages
Once you create a VPA (Virtual Payment Address), you would need to link a bank account to your virtual address. Now in most other apps, you can only link one account to your VPA. If you have multiple accounts, you would need to create multiple VPAs.
However, PhonePe allows you to add multiple bank accounts to a single VPA. And depending on which bank account you want to use, you can easily change it in the settings.
2) The User Experience
Any app needs to be easy to use and intuitive. PhonePe delivers on that front. In my opinion, it has the best user interface and user experience. The entire process of creating a VPA and adding 4 different bank accounts was done within minutes, and without a single 'what-am-I-supposed-to-do-next' moment.
3) The Flipkart Connection
I was now curious as to how is this cheap sounding app doing such a good job of what it is supposed to do. A bit of digging and I had my answer. This app startetd off as the idea of a couple of ex-Flipkart employees. Flipkart then acquired the company and now PhonePe is Flipkart's wallet platform. (They have collaborated with Yes Bank) And they sure have done a good job of it.
LINK : https://yourstory.com/2016/04/flipkart-phonepe/
I will put up a detailed usage of the app in my next post. But given that it is so intuitive, it really may not be required. So go ahead and give UPI and PhonePe a try!
LINKS
Google Store : https://play.google.com/store/apps/details?id=com.phonepe.app
PhonePe isn't on the Apple store yet. (Another reason why Android is the way to go!)
The very first step is choosing your UPI app. Like digital wallets, we have a number of UPI apps too. There are many apps developed by banks and there are many being developed by private players as well. I tried out some of them (Axis Pay, ICICI's iMobile, pockets) before coming across PhonePe, which according to me seems to be the best app in the UPI space, and given below are the reasons for the same.
1) Multiple bank account linkages
Once you create a VPA (Virtual Payment Address), you would need to link a bank account to your virtual address. Now in most other apps, you can only link one account to your VPA. If you have multiple accounts, you would need to create multiple VPAs.
However, PhonePe allows you to add multiple bank accounts to a single VPA. And depending on which bank account you want to use, you can easily change it in the settings.
2) The User Experience
Any app needs to be easy to use and intuitive. PhonePe delivers on that front. In my opinion, it has the best user interface and user experience. The entire process of creating a VPA and adding 4 different bank accounts was done within minutes, and without a single 'what-am-I-supposed-to-do-next' moment.
3) The Flipkart Connection
I was now curious as to how is this cheap sounding app doing such a good job of what it is supposed to do. A bit of digging and I had my answer. This app startetd off as the idea of a couple of ex-Flipkart employees. Flipkart then acquired the company and now PhonePe is Flipkart's wallet platform. (They have collaborated with Yes Bank) And they sure have done a good job of it.
LINK : https://yourstory.com/2016/04/flipkart-phonepe/
I will put up a detailed usage of the app in my next post. But given that it is so intuitive, it really may not be required. So go ahead and give UPI and PhonePe a try!
LINKS
Google Store : https://play.google.com/store/apps/details?id=com.phonepe.app
PhonePe isn't on the Apple store yet. (Another reason why Android is the way to go!)
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