Phonepe For Businesses

Like Phonepe app for users, Phonepe has introduced an app for the merchants named ‘Phonepe for Business’. It is also based on BHIM UPI, so it has all the features of the UPI app.

To use this app as a merchant, you have to register your business in the app platform. Moreover, you have to link your bank account with the app to receive payment.

Benefits of Phonepe app for Business

This app is proving itself very useful at the current economic conditions. Not only it helps the merchants to connect directly to the customers but customers also achieve options to choose between different merchants. Thus, let us see how it provides the benefit to you as a merchant and as a customer.

Benefits for merchants

• The installation and function of the app are so easy. You can register yourself as a merchant within a few steps. For registration, you have to give your business details.
• You can use the app anywhere in India.
• Phonepe assures you that your business and personal details including bank details are completely safe from any fraud and hacking.
• You may receive payments directly in your bank account through the app. Mostly, the payment you get instantly or within one day.
• No need to download one more app to accept payments from customers.
• Phonepe for Business app supports various payment methods like Debit card, Credit card, Wallet and BHIM UPI ID. Thus, you give a broad area to the customers to make payment. No matter what the size and nature of your business are.
• It reduces your business cost because you can connect with your customers through the app free.
• If you face any issue related to the app, you can contact Merchant support Team any time. And you get the quick revert.
• Phonepe is trying to cover its customers all over in India. That is why it is available in 11 languages.
• In the Phonepe for Business app, you can see all transactions and payments.
• You can track the progress of your business daily with the help of reports and analytics. Thus, you can take the necessary actions as well.
• The most important benefit of this app is that there is no daily limit of accepting payment in bank account through the app.
• You are free to edit your business name and address. Hence, no need to worry about changes in your business.
• Moreover, you get the reward and cashback offers for the transactions as well.

Benefits for customers

• Phonepe for Business app supports more than 70 BHIM UPI apps. Hence, you have many options to make payment to a merchant. You can use your preferred payment option.
• No need to pay out of the wallet. You are eligible to pay directly from the bank account. And it goes to the merchant’s account instantly.
• However, you are free to pay through the wallet or debit/ credit card.
• You can achieve all the benefits of cashless payments.
• You can see your favourite merchant information in your Phonepe app home page.

The App

This app is an another app of Phonepe. But it is for the merchants only.

Phonepe for business app works on UPI platform. It is compatible with Android version of 4.4 and above. You can download it from the Play Store and App Store.

You can use the app in 11 different languages and connect with customer care in your preferred language. These languages are- English, Hindi, Marathi, Bengali, Gujarati, Tamil, Telugu, Kannada, Malayalam, Assamese and Odiya.

This app is giving various methods to solve your issues. Below are the details of customer support-

Phone number: 0124-6789-345. You receive the revert within 5 to 10 minutes.

Email ID: [email protected] You receive the response within 24 hours.

Suggested: Phonepe Customer Support Methods and Customer Care Numbers

Eligibility and Requirements

Before starting to use the Phonepe for business app, you have to fulfil some conditions. These are necessary to register yourself as a merchant in the app. However, you have not to submit any document in the form of hard copy for verification.

Let us see the eligibility and requirements to use the app-

• Only an Indian is eligible to register himself as a merchant.
• Your business must be situated in India.
• To sign up in the app as a merchant, you have to keep a mobile number, an active savings bank account and Gmail account.
• Your mobile number must be the same in the bank account and in Phonepe app. It will be used to get OTP, verification of mobile number and validation of bank account through an SMS.
• You have to give your personal and business details, like your name, business name, address, mobile number etc.
• Unified Payment Interface code (UPI ID). If you have not a UPI ID, you can make it through any UPI APP.
• Moreover, you have to provide your business category as well. This is your Merchant Category Code.

Steps of Onboarding

To use the Phonepe app for Business, you have to follow some steps. So, let us see what the steps of onboarding of the app are-

Step 1,

As I said above, to install the app you have to go Google Play Store or ios App store. Here search this app. Now, download and install the app. Then open the app.

Step 2,

After installing the app, first of all, you have to register your name and mobile number. The number should be the same registered with your account in bank. So that, you may receive the payment through the UPI directly in your account.

Step 3,

You will receive an OTP on your mobile number. Enter this OTP. This will verify your number.

Step 4,

Now Click on Continue Registration. The next page asks your device location. Allow it. Then you see it takes your address automatically.

Step 5,

In the next stage, you have to enter your business name. Then you see a drop down list of business category. You have to select one which is the field of your business.

Step 6,

Now you have to select the name of Bank where you have a savings account. This process validates your linked mobile number with the account and shows the basic details of your account number.

Step 7,

After selecting continue your Merchant account will be created.

Step 8,

Then you will be redirected to the Dashboard. On the dashboard, you can see all the completed and pending daily transactions.

Step 9,

Now you can start accepting payment from customers by using Phonepe app for Business. You have to download your QR Code in the PDF format. Print it and you can paste it at your shop or office to scan by the customers.

After scanning the QR code, your customers would be eligible to pay you.

Moreover, you can share it with your friends and customers through social media. On the app, you can see your UPI ID. By using this you can accept payments as well.

Fees and Charges

Transactions on Phonepe app for Business are under the fee charges. So, it is not a free service. Let us see how the charges are applicable-

• When you receive the payment through the app, Phonepe may charge you with a fee. It is like a vantage fee. However, at this time Phonepe is not charging any type of fee. Phonepe is trying to give a promotional rebate to link more merchants with the app.
• But, your bank levies a charge at a nominal rate. When you receive the payment more than ₹50,000 in a month in your account through the BHIM UPI apps, you have to pay some charge. However, if you do not cross this limit, you have not to pay any fee.

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Rewards

Also, the merchant gets rewards and cashback in the form of offers in Phonepe app. And you can use it for your personal payments and recharges. You may earn Rewards in different manners, like-

• When you sign up for the very first time, you may get the reward in the form of cashback. This would be a promotional offer.
• Another cashback you may earn when you complete a minimum number of payments received.
• Besides it, if you refer the app to your friends or customers, you may get the rewards.
• Moreover, participating in the offer may cause a cashback as well. Like, after paying to the particular person or app or other you may get a scratch card and win cashback.

So, above these are some examples of rewards which are available to you. You can see the list of all available offers on the home page of the app.

Like the payment received from customers, cashback also goes to your linked bank account.

Hence in this way, Phonepe is facilitating to the merchants to get a chance to enhance their business. And to connect with the customers easily than before.