Your one-stop guide on how to change PhonePe UPI ID.
PhonePe is an Indian third-party payment app that enables you to make payments for various transactions. Do you wish to repay your friend for your share of a meal you enjoyed together? Do you want to pay your cab fare or book train or plane tickets? Whatever the expenses, you can conduct them all via PhonePe. This payment app allows you to pay your utility bills, recharge mobile and DTH devices, shop online, etc. If you have already downloaded the PhonePe app on your mobile phone and wish to know how to change your UPI-ID in PhonePe, read on.
The PhonePe App is powered by the United Payment Interface – a real-time payment system launched by the National Payment Corporation of India (NPCI). When you set up the PhonePe app, you need to link your bank account number and the Bharat Interface for Money (BHIM) app. This is because the NPCI has not authorised PhonePe to create or change UPI IDs.
Launched in December 2016, BHIM is the new version of the UPI platform and a mechanism that helps you transfer funds between bank accounts. As such, when you learn about how to change PhonePe UPI ID, you will find BHIM mentioned in the steps.
The query 'how to change my UPI ID in PhonePe' can be answered in eight easy steps. Here is what you need to do.
As is apparent, the process of how to change UPI ID in PhonePe is rather simple. You must use a strong internet connection to change your UPI ID without any hassles. Remember to use a private internet connection such as your home WI-FI or a stable mobile connection while conducting any financial transactions. Doing so ensures security and protects your bank account details from being hacked by non-secure servers.
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*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.