Online sports betting in India has gained a lot of popularity in recent times. The availability of more betting sites has also triggered a need for more reliable payment methods.
One of the ways to fund your betting account, which has recently gained a lot of interest in India, is the PhonePe payment method.
PhonePe Betting Sites
Due to the rising popularity of PhonePe being used as a method to fund a player’s account, a lot of platforms have decided to start using it. The availability of the app makes it very convenient for players who already use it as they can add one more purpose to it. PhonePe is, slowly but surely, becoming a valid method to add funds to your online betting account.
However, not all sites have adopted this method of payment yet. Although the number of them is rising, some of them are still reluctant in doing so.
Some of the PhonePe betting sites that allow this payment method include:
What is PhonePe?
PhonePe is a mobile payment app native to India. It is a digital wallet platform that offers convenience by allowing users to take care of their payments remotely. The PhonePe Indian app is based on the Unified Payment Interface and licensed by the Reserve Bank of India.
The app is so popular among Indian users that it is now available in 11 different Indian languages. Users mostly use it to pay utility bills, recharge mobile, pay at shops, or generally send and receive money.
Consequently, a lot of punters have started to use it to fund their online betting accounts. The increase in popularity also resulted in many betting providers adding PhonePe as a method of payment on their platforms.
Is PhonePe Safe?
Whenever you explore the possibility of changing a payment method, you should always make sure that it is safe. When it comes to PhonePe, there is no reason to be concerned. PhonePe is a legitimate brand owned by PhonePe Private Limited, a renowned application software designer and developer.
The app requires transactions to be verified. For that reason, each user is given a unique MPIN, known only by the users themselves. Every transaction will require the user to enter their MPIN to allow it to go through.
Keeping your MPIN only to yourself increases the safety of using this app and prevents any maltreatment of your account.
How to Use PhonePe Wallet?
Using the PhonePe as a payment method requires you to do two things first – download the app and create an account.
You can obtain the app by downloading it from the PhonePe website directly or installing it through the Google Play Store or App Store. Once you have the app, you need to register your account.
You can do so by:
- Verifying your mobile phone number – You will receive a one-time password that you will need to enter to verify the account. Make sure to use the same phone number connected to your bank account.
- Filling in your personal details – Add your full legal name, a valid email address, and create a password. You also need to accept the given terms and conditions.
- Creating a virtual payment address (VPA) – The VPA acts as your username, so you don’t need to enter your bank account number time and time again when making transactions.
- Linking to your bank account – Select the bank account you want to link to the app and PhonePe will automatically access your bank account details.
After going through all of this, you only need to confirm all the necessary information and your account is ready to use.
The first step to making deposits via PhonePe is determining if the platform accepts UPI payments. To make a deposit using PhonePe, one simply has to go and pick it as a payment method on the site and follow the instructions.
However, if you want to make a direct deposit using the app, you will need to enter the UPI ID, bank details, or IFSC code of the bookmaker. Most platforms provide this information freely. Once the bookie receives the deposited funds, they will be credited to your player’s account.
There is a transfer limit though, as Indian players can deposit a minimum of ₹ 500 or a maximum of ₹ 20,000.
Withdrawing your funds via PhonePe works similarly as with any other payment method that a betting operator offers.
The best way is doing it directly from the betting platform. Go to your account and pick to withdraw funds using PhonePe. Follow the instructions to complete the transaction. The amount will be credited to your PhonePe app and you can choose to transfer it to your bank account later on.
In this case, transfer limits will vary depending on the bookmaker as they are the ones that set withdrawal limits.
The PhonePe app is available for both Android and iOS users. It is easy to use as one can get the hang of it fast. If you happen to have any trouble, you can always contact PhonePe customer care for assistance.
The PhonePe app does offer a lot of convenience to punters as they can make transactions from anywhere where a stable internet connection can be established. It allows flexibility as you are not bound to a specific physical location to do it. More so, it is cheaper than some other methods.
The only downside is that it is still not as popular as some other traditional payment options. However, as online betting becomes more and more popular in India, we will most likely get to see the rise in usage of the PhonePe app as well.
PhonePe is a perfectly safe and secure mode of payment powered by Yes Bank. All payments are facilitated by secure banking networks. Moreover, no user data or password is stored in the PhonePe app. Users are required to enter an MPIN known only to themselves to authorise payments.
Several reputable betting sites including Funbet, Casumo, 10CRIC, Parimatch, Betway, and 1xBet accept PhonePe as a payment mode.
The process of depositing money on PhonePe betting sites involves a few easy steps: