PhonePe has become one of the most popular digital payment platforms in India, known for its user-friendly interface and seamless payment solutions. While most people use PhonePe for simple tasks like money transfers and bill payments, the app offers a range of hidden features that can enhance your digital payment experience. Whether you’re a frequent user or a newcomer, there’s a lot more to PhonePe than meets the eye.
In this blog, we’ll take a look at some of the top PhonePe features you might not know about, which can make your financial transactions even easier and more rewarding.
1. PhonePe Wallet: Store Money for Quick Transactions
Many people are unaware that PhonePe offers a digital wallet feature, which allows users to store money for faster transactions. By adding money to your PhonePe wallet, you can:
- Quickly pay for bills, recharges, and other services without needing to link your bank account each time.
- Use the stored balance for offline payments at merchants who accept PhonePe.
- Transfer the balance to your linked bank account whenever needed.
It’s a great option for users who want to keep their digital payment transactions fast and convenient.
2. PhonePe for Investments: Gold and Mutual Funds
PhonePe isn’t just for transactions — it also serves as a financial management tool. The app allows users to:
- Invest in digital gold: You can purchase small amounts of gold through the app, making it easier for anyone to invest in this precious metal. It’s a secure and flexible way to add gold to your portfolio.
- Invest in mutual funds: Through its partnership with ET Money, PhonePe enables users to invest in a variety of mutual funds with minimal effort. You can start with a low amount and manage your investments right from the app.
These investment features make it easy for users to start their financial journey, without needing to go through multiple apps or platforms.
3. PhonePe Switch: Access Multiple Apps within PhonePe
Did you know that you can access third-party apps directly from within the PhonePe app? The PhonePe Switch feature offers an entire ecosystem of apps that you can use for different purposes, including:
- Food delivery services (e.g., Zomato)
- E-commerce platforms (e.g., Flipkart)
- Movie bookings (e.g., BookMyShow)
- Travel bookings (e.g., RedBus)
Switching between these services within PhonePe allows you to pay for everything without leaving the app, making it a super convenient platform for all your needs.
4. Group Payments and Bill Splitting
PhonePe makes it easy to split bills with friends and family, especially for group payments in restaurants, parties, or shared expenses. The Group Payment feature allows you to:
- Create a group within the app and add participants.
- Share the total bill among the group members.
- Collect payments instantly, with each participant paying their share via PhonePe or any UPI app.
This feature makes managing group expenses a breeze, saving you from the hassle of individual payments or chasing people for money.
5. Voice Payments: Pay Using Your Voice
PhonePe’s voice payment feature lets you make payments using just your voice. This is particularly useful when you’re on the go or when you need to make a quick transaction without typing. Here’s how it works:
- Activate voice assistant: Open the PhonePe app and tap the microphone icon.
- Speak your payment request: Say something like, “Pay ₹500 to [contact name].”
- PhonePe will automatically process the payment after confirming your UPI PIN.
This hands-free payment system is especially useful for people who want a fast, convenient way to send money while multitasking.
6. PhonePe for Insurance
PhonePe also offers a range of insurance products directly through the app, such as:
- Health insurance: You can buy health insurance plans from top providers.
- Life insurance: Purchase life insurance policies to protect your family.
- Personal accident insurance: For covering medical and other expenses due to accidents.
By partnering with leading insurance companies, PhonePe makes it easier for users to get the right coverage with just a few taps.
7. Recharge and Bill Payment Reminders
PhonePe goes the extra mile by helping users stay on top of their bill payments. You can set up automatic reminders for recurring payments like:
- Mobile recharges
- Electricity, gas, and water bills
- DTH and broadband payments
These reminders ensure that you never miss a payment due date, making your financial life more organized.
8. PhonePe for Education Fees and Exams
PhonePe allows you to pay education fees directly from the app, whether it’s for schools, colleges, or universities. In addition, you can also pay for online exam fees and entrance exams. This feature is incredibly useful for parents and students looking for a seamless way to handle education-related payments.
9. Phantom Rewards and Cashback Offers
PhonePe offers Phantom Rewards, a feature that lets you unlock hidden offers and cashback rewards while using the app. By making payments or completing specific actions, you can collect cashbacks, coupons, and exclusive offers. Some of these rewards can even be used for future transactions, offering users a chance to save money.
10. Emergency UPI Payments via PhonePe
In case of an emergency, PhonePe allows you to transfer money quickly and easily, even if you don’t have cash on hand. With instant UPI-based payments, you can send money to anyone within seconds, making it a valuable tool in urgent situations.
11. Request Money Feature
PhonePe allows you to request money from any contact. If someone owes you money, you can send a money request through the app. The recipient will receive a notification and can pay you directly using PhonePe or any other UPI-based payment app.
This feature removes the hassle of asking for money multiple times and makes the process of receiving payments smooth and easy.
12. PhonePe for Small Businesses and Merchants
PhonePe doesn’t just cater to individual users; it’s also a powerful tool for small businesses and merchants. Through PhonePe’s Business Account, you can:
- Accept payments using a PhonePe QR code.
- Track transaction history and generate invoices.
- Offer discounts and cashback to customers.
- Accept payments from customers using any UPI-based app, not just PhonePe.
This makes it easier for businesses to digitize their payment system without needing expensive POS equipment.
Conclusion
PhonePe is much more than just a payment app. With features like QR code payments, voice payments, insurance options, and investment tools, it has transformed into a comprehensive financial platform. By exploring these lesser-known features, you can maximize your PhonePe experience, whether it’s for everyday transactions, managing your finances, or running a small business.
The app continues to evolve, adding new functionalities that cater to the needs of Indian consumers, making it an indispensable tool in the world of digital payments. Whether you’re looking for convenience, rewards, or more financial services, PhonePe has you covered!