PhonePe Business is a payment solution for businesses. It is PhonePe’s merchant-focused solution, which offers features and services specifically designed to meet the needs of a merchant’s account. These services include card management, monthly statement reconciliation for recurring payments, and more. PhonePe Business is not available to merchants who are new to PhonePe. You will have to be an active PhonePe merchant with a verified account before you can participate in PhonePe Business.
Here’s a list of the key differences between PhonePe Business and PhonePe.
PhonePe Business is a payment solution for businesses. PhonePe Business is an account that is specifically designed to suit the needs of merchants and includes features like card management, monthly statement reconciliation for recurring payments, and more.
Why set up PhonePe Business?
1. Pay Your Bills
You can set up recurring payments and automate the process of paying your bills, so you don’t have to worry about doing it manually.
2. Manage Multiple Accounts
You can manage multiple accounts through PhonePe Business, which is a great option if you have a number of suppliers who require payment in different ways.
3. Receive Statements
PhonePe Business offers monthly statement reconciliation for recurring payments, so you can keep track of the transactions that are running automatically.
4. Track All Transactions
With PhonePe Business, you will be able to track all transactions from your PhonePe account, regardless of how they were processed (e.g., cash on delivery).
5. Set Up Recurring Payments Easily
PhonePe Business lets you set up recurring payments easily and with just one click-through, without requiring any additional information from your customers or suppliers every time they make a sale or bill payment – this means that managing payments is even easier than before!
How to Apply for PhonePe Business
PhonePe Business is available for merchants who are already registered with PhonePe. It is not available to new merchants. To apply for PhonePe Business, follow these simple steps:
1) Head to the ‘Settings’ tab in the PhonePe app
2) Click on ‘Business Account’
3) Enter your phone number and email ID
4) Verify account by clicking on link sent to your mail ID
How much does PhonePe Business cost?
PhonePe Business is available for a one-time fee of $25,000.
How does PhonePe Business work?
PhonePe Business is a payment solution for businesses that offers features and services specifically designed to meet the needs of a merchant’s account. It does not require any additional hardware or infrastructure from your end and has been designed keeping in mind the specific requirements of your industry. You can use PhonePe Business with your existing POS system, which will help you integrate the app into your business seamlessly.
PhonePe Business is a simple, low-cost set-up that includes
- Credit card acceptance: You can accept all major cards as well as Amex, Visa Electron (Plus) and MasterCard PayPass through PhonePe Business.
- Ease of integration: Unlike other solutions in the market, PhonePe Business does not need any additional hardware or infrastructure from your end. We’ve also made it easy for you to integrate the app into your business seamlessly by supporting POS systems that are present in most brick and mortar stores.
- Mobile payments: With our mobile app, you can accept payments directly from customers on the go. Customers simply need to scan a QR code generated through their device and enter their PIN or CVV number before making the purchase.
- Transaction reports: You will receive live updates on your transactions with customised reports based on transaction types and frequencies.
- Inbuilt discounts: Discount codes are preloaded in PhonePe Business so merchants won’t need to struggle with entering discounts manually every time they wish to offer one.
How to sign up for PhonePe Business?
To sign up for PhonePe Business, you need to go through the following steps:
1. Visit the PhonePe website and click ‘Create a Payment Profile’
2. Make sure that your account is verified by entering your email address and one of your bank account details.
3. Add a new business profile with all the information required for your business
4. Set up your payment profiles by entering your details (merchant name, UPI ID, bank account number)