What is PhonePe ? What is it and everything about phonepe .

PhonePe is a financial company headquartered in Bangalore India. It was founded in December 2015. It provides an online payment system based on Unified payments interface (UPI), which is a new process in electronic fund transfer  launched by National payment Corporation of india (NPCI).
It is licensed by the Reserve bank of india for issuance and operation of a Semi Closed Prepaid Payment system.
PhonePe has been acquired by Flipkart and is been partnership with yes bank to launch its UPI payment services. PhonePe is used in online merchants and is also accepted by offline merchants. PhonePe does give scratch cards as cashback when doing recharge,  dth payment, electricity bill payment, sending money to another person through UPI. Besides having UPI services PhonePe does have its own wallet in which the cashback you earn stores or deposited. The PhonePe wallet money cannot be send to bank through the PhonePe app but can be transferred to bank through Payumoney . PhonePe wallet money can also be used in different online merchants.