PhonePe Business: Guide
PhonePe is a Digital Payments and financial services company founded in 2015 by Sameer Nigam, Rahul Chari, and Burzin Engineer. Its headquarters are in Bengaluru, Karnataka. This app, launched in 2016, is based on UPI (Unified Payments Interface) and enables users to perform various transactions, such as sending and receiving money, DTH recharge, bill payment, etc.
PhonePe Business app is your way to networking with 3.8 crore merchants, digital payments, and more. You can log in to your account, accept payments, record your transactions, apply for loans, and more. The benefits of using PhonePe Business are listed below:-
Easy payment acceptance:
Use the PhonePe QR to accept payments from all BHIM UPI apps. The PhonePe QR also supports other payment modes, such as Credit and debit cards and wallets.
Get instant help:
In the Help section, you can resolve queries using our user-friendly Chat Bot. You can also contact our helpdesk using the PhonePe Business app.
Direct settlement into your bank account:
Money is transferred safely & directly into your bank account instantly or the following day. You can also use our ‘SettleNow’ feature to receive cash in your bank account anytime during the day.
Real-time transaction and payment tracking:
Check your transactions & settlements quickly in the History section on the PhonePe Business app.
Get instant loans for Merchants:
The PhonePe Business app provides online loans to MSMEs. Get a loan on PhonePe & move a step closer to growing your business.
Attractive interest rates with up to 30 months tenure
- Instant digital loan with 0 paperwork
- Online loans from INR 50,000 to INR 5,00,000
- Easy repayment option with EDI - Easy Daily Installments
- EDIs deducted from daily transactions collected via customer payments on PhonePe
- 100% trustworthy loans offered by RBI-regulated PhonePe lending partners authorised to offer credit products
- Multiple lenders & option to select the best offering at competitive interest rates
- Low processing fees & no other hidden charges
- Daily updates about your Loan on the PhonePe Business app
- Option to foreclose Loan at any time
Register yourself to PhonePe Business by creating an account by following the steps given below:-
Download the PhonePe Business app on Android/IOS.
After opening the app, you will see two options on the dashboard.
Click on sign-in, then enter your full name and mobile no.
After that, click on Get OTP and enter the OTP.
Further, you must enter your full address and click the save button.
Then enter your Business name and category, click on Submit
Select the bank account with which you have registered your mobile no. for the payments
Open messages will be typed automatically and sent from your registered no.
After completing that step, your Bank details will automatically be attached to your PhonePe account.
What is the use of the PhonePe Business app?
Help your business go cashless. The PhonePe for Business app allows you to list your store, add details and offers to your store listing, enable the PhonePe ATM, and increase customer walk-ins.
How much does PhonePe Business charge?
Thus, when a customer makes a payment through UPI using a PhonePe QR code at a store, the merchant should pay the interchange fee to PhonePe, the payment service provider. The interchange fee is 0.5-1.1% and applies to different services.
Is PhonePe Business safe?
PhonePe PG is PCI DSS compliant and offers data encryption, internal audits, and FRA capabilities, ensuring 100% secure transactions.
Can we transfer money from PhonePe Business?
Yes, you can send and receive money on the PhonePe Business app.
How do you check the balance in the PhonePe Business account?
You can check your balance by following the steps given below:-
-Tap your profile picture on the PhonePe app home screen.
-Select the bank account under the Payment Methods section.
-Tap Check Balance.
-Enter the UPI PIN for that account.
-Your bank balance will be displayed on the screen.
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