PhonePe Wallet : Installation, Features and Limitations

PhonePe Wallet : Installation, Features and Limitations

PhonePe Wallet : Installation, Features and Limitations

A Flipkart Group Company has come up with this mobile payment application, PhonePe wallet, which works over UPI (Unified Payments Interface) platform and is powered by YES Bank. UPI platform is developed by the National Payments Corporation of India (NPCI) to make mobile payments more general and platform or bank independent. In this app, one can link his/her bank account(s) over UPI and can make bank to bank transactions instantly by just using a mobile number. Here, for identity authentication reason, a unique VPA (Virtual Payment Address) is provided to every individual who uses the app. PhonePe wallet also provides you a digital mobile wallet facility to get refunds and cashbacks from their merchant partners. You can withdraw wallet balance into linked bank account or spend it for other purposes. So, here we have provided instructions for app’s installation, its features, and its limitations.


  1. First, Download and install the PhonePe App.
  2. Open the app and follow the initial set of instructions.
  3. PhonePe-wallet-Installation-Features-Limitations-infocreeds

  4. Verify your mobile number. Standard SMS charges apply. In case you own a Dual Sim smartphone, select the SIM that is linked to your Bank account.
  5. PhonePe-wallet-Installation-Features-Limitations-2-infocreeds

  6. Enter Name, email and set your 4 Digit password and activate your wallet.
  7. Proceed to the next step and click on Create New VPA.
  8. In the next step, you have to select your Bank, and the app will automatically fetch the details.

Features of PhonePe

  • Once bank account is linked you don’t need to top up the wallet.
  • Merchant cash back and refunds from Flipkart will go into the wallet.
  • You can withdraw wallet balance to bank free of charge.
  • The app can be used to transfer money from one bank to the other.
  • Send Money to contacts.
  • It also works to transfer money to other wallet.
  • Split bills between contacts or VPA.
  • Speed of the app is also great.
  • Supports regional languages.

Special Features

  • Has a functionality of interbank transfer and has combined all the functionality of apps like PayTM, Freecharge, Splitwiseetc along with the added. Recharge your Mobile, Data Card, DTH and Pay Postpaid Bills, Landline, Electricity, and Gas Bills.
  • With the same app you can now make and receive payments, pay your utility bills, split your bills with others, receive and send payment and also transfer money between bank accounts.
  • Single app can reduce app clutter on devices.
  • Seems as secure as IMPS with usage of MPIN.
  • If you remove your registered SIM card, the app will stop working.
  • Shop on Flipkart.

The maximum limit per single transaction is Rs. 100,000.

Upcoming Features

  • Many more banks and utility services yet to be on-boarded.
  • Shop on Myntra, Jabong and all your other favorite online shopping destinations using PhonePe.


  • One account at a time.
  • Transfer is possible with the user’s linked bank account(s) only. For example, A cannot transfer wallet funds to B’s bank account and vice versa.
  • Limited up to 31 banks only.
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Vaibhav Patel

I am [ Reader || Gamer || Programmer || Cinephilia || Foodie || Cogitative || Nyctophilliac || ComicBooksLover ] an Engineering student.

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