PhonePe KYC Guide: This will be full step by step guide to complete KYC (Know your customer) through PhonePe App.
PhonePe is a mobile payment app based in India. With this app, customers can send and receive money directly to and from bank accounts. PhonePe is quite popular as it ranks as the second-best UPI app after Google Pay in India.
KYC is an abbreviation that stands for ‘Know Your Customer’. This is a system that allows confirmation and verification of clients in your business. It solely aims at avoiding dealing with clients you have criminal intentions. Knowing your customer is very vital more so if it is an established business that has regular clients who transact huge sums of money. KYC was introduced in order to curb illegal activities such as money laundering and fraud.
The Reserve Bank of India mandated completing KYC with any mobile payment app so that wallet users can be able to send money. If not completed, you will probably only be able to recharge and pay bills through your PhonePe app other than sending. The process of completing PhonePe KYC is relatively simple and it involves easy steps.
How To Complete PhonePe KYC Through App
1. Launch the PhonePe app on your phone and select ‘My money’.
2. You will then see the several wallets that are available. Ensure that you have selected ‘PhonePe’.
3. Select ‘Continue’ when the notification pops up asking you to complete your KYC.
4. You will then be able to see some information concerning KYC. Read them carefully and go to the next step.
5. You will then be prompted to provide some details which are basically meant to verify your identity. You are supposed to enter the details of your Aadhaar number (12 digits) and submit.
6. After submission, you will receive a one-time password (OTP) which you are supposed to enter and confirm.
7. After confirmation, your PhonePe KYC will have been successfully completed.