PhonePe is a mobile payment wallet that allows smartphone users to make touchless payments. With the help of PhonePe, we can send money to friends, relatives, do online shopping, recharge, pay electricity water bills. In simple words, with the help of PhonePe, we can make online transactions from our smartphones anytime and anywhere. PhonePe can be considered as a running ATM machine.
Any user who makes an account on PhonePe has to link their bank’s account with the app. After registering on PhonePe, the users don’t have any need to take their debit or credit card with them to the market or to any places where they want to pay. With the help of PhonePe, the payment is directly made from the bank account linked with it.
To make India cashless many UPI-based payment apps were launched in India and PhonePe is one such app. PhonePe was initially launched in the year 2015 and it gained huge popularity after the demonetization in 2016.
How to set up PhonePe PIN
To use the PhonePe app and set up PIN follow the below steps
- First of all, search the PhonePe app from Playstore or App Store on your smartphone.
- Now download and install the App on your Mobile.
- After downloading the PhonePe app, you have to choose the language in which you want to use the app.
- Now enter the mobile number. Make sure that that mobile number is the same as that is registered with your bank account.
- Now click on continue after entering the email id.
- You will receive an OTP on your registered mobile number. Verify this OTP.
- In the next step, you will have to set up a four-digit ‘PIN’ which will work as the password of the PhonePe app.
- The 4 digits unlock code of your mobile can also be used as the PIN of PhonePe
- You also have the option to choose any other 4 digit code of your choice as the PIN of PhonePe
- So the PIN of your PhonePe account is set up and you can use the app for transferring or receiving money.
Setting up your PIN is necessary for the PhonePe app because of security purposes. The app will ask the users to enter this PIN before completing any transaction. Without entering the PIN the transaction will not be complete. Therefore all the transactions through PhonePe are completely safe and secure.
Steps to change UPI Pin in PhonePe
Follow the below-mentioned steps to change/reset UPI Pin in PhonePe
Login to PhonePe
First of all open and Login PhonePe app on your mobile phone if you are not already logged in
Visit the My Money section
After login goes to the My Money Page/tab in your PhonePe account.
Choose your Bank
You will see a list of banks under the Payment Methods tab. Here you will have to choose the bank account that you have linked with PhonPe and want to change the UPI Pin for.
Select Reset Option
If you have not already created a PIN for PhonePe then many options will appear to you. But if you have already set up UPI Pin and want to change it, then you have chosen ‘Reset Option’.
Fill in Debit or Credit Card details
Now you will have to fill in the following information:
Last six digits of your Debit or Credit Card
After that, an OTP will be sent to your mobile number that is registered with a bank account and with the PhonePe app.
Setup New UPI PIN
Enter the OTP and the new UPI PIN that you want to update. The setup of the new UPI PIN in PhonePe is now complete.