Nowadays, mobile services are growing at a huge pace. Mobile apps are providing better services than email service providers. Banking is one of the most important services. Everyone wants to bank from anywhere in the world without any hurdle. The famous PhonePe app is offering us the freedom for bank transactions on every android handset. Phonepe has been introduced just to make our online transactions easier by eliminating all obstacles.

PhonePe, one of India’s largest UPI-based payment applications, has witnessed tremendous growth since its launch in September 2016. Phonepe app is the new trendsetter among payment apps, being PhonePe limits the show stopper. It lets its user pay easily and quickly by scanning QR codes. This is because it is also one of the best companies working in India with amazing payment gateway services and taking online shopping by storm. 

Key features

Phonepe is India’s leading payments app. It is an Indian e-commerce payment system and digital wallet company and puts forth a number of advantages. Given below are some of the benefits, read more to know in detail:

1.       Increased accessibility

PhonePe is a UPI based application that turns your smartphone into a mobile wallet to make instant money transfers and pay at stores using BHIM UPI.

2.       Chat option to contact customer support

The app comes with a chat window to contact customer support, which is one of its most unique features. The response time is pretty decent as well. However, the chat window will only appear if there is an issue or you have a query related to it.

3.       Online Bill Payment    

You can recharge your prepaid number or pay your utility bills right from the PhonePe app itself by simply entering the details and selecting your payment mode. PhonePe provides users with the option of connecting their bank accounts, credit cards or debit cards directly to the app. Users can pay utility bills, recharge prepaid mobile and DTH accounts, pay for groceries and do much more using this app.

Ranking of Phonepe App

Phonepe is ranked at number 5 in the list of apps related to the banking and finance sector with a rating of 4.3 out of 5 stars on the Google play store.

PhonePe’s market share

PhonePe’s market value escalated to a greater extent to 45.92% in October from 45.2% in September, the same year. Within the same time, Google Pay’s market worth decreased from 35.42% to 34.41%. Thus, PhonePe is becoming one of the best UPI applications. 

PhonePe limit

With the rise in popularity of digital transactions and the increasing number of apps using UPI, a lot of people are asking, what is the PhonePe limit per day? This process of digital payment is becoming very popular in India. According to the NPCI, a total of 3.21 million transactions were made through UPI in September 2017.

There’s no specific rule or regulation defined for the UPI transaction of PhonePe limit per day. This means that maximum limits can change according to banks. The NPCI has so far not released any restrictions regarding the daily UPI ability to deal. As a result, financial institutions have varied restrictions. Furthermore, certain institutions have set the Phonepe payment limitation by week rather than day. For example, IDFC company’s Phonepe UPI payment ceiling a week is Rs. 30,00,000. 

Conclusion

In addition to money transfers, the PhonePe App also allows you to get mobile recharge for your prepaid number, postpaid bill payments for most major service providers, and DTH recharge for all DTH operators, alongside a good PhonePe limit. All these services are interlinked within the app, and hence is an application that is a boon for the modern payment mechanism.