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PhonePe to Paytm and Paytm to PhonePe – Now you can do both!

With the introduction of UPI earlier this year, Paytm had introduced a new feature. Paytm users could now transfer money from UPI apps like Phonepe and BHIM to their wallet. But from that very time, people were curious to know if reverse was possible. Can we send money from Paytm to PhonePe?

Many people asked if there is a way to send money from Paytm to PhonePe (or some other UPI app like BHIM). The answer was a simple no, until very recently. But now, Paytm has introduced its new feature called BHIM UPI.

Want to know more about UPI? Read – Unified Payments Interface – How To Pay Using UPI Apps

This means that now you can make UPI based transactions directly from your Paytm app. Even though it means that now Paytm can replace all your UPI apps like PhonePe and BHIM.

But if you still wish to use these UPI apps and want to transfer money between them, here are all the possible use cases. Please make sure that I will be demonstrating all these transfers between PhonePe and Paytm in this post. If you want to do it for any other UPI based app (like BHIM or Google Tez), the process will be similar.

First things First – Setup your BHIM UPI on Paytm

Before we move forward and I tell you how you can send and receive money between PhonePe and Paytm, you will have to setup BHIM UPI within Paytm.

You can do so by following steps given below.

  1. Open Your Paytm App
  2. Tap on ‘BHIM UPI‘ option.
    BHIM UPI option in Paytm
  3. For the first time, you will be asked to select your bank and the SIM card registered with that bank.
  4. It will then verify if the phone number is registered with that Bank and fetch your bank details.
  5. Once that is done, you will prompted to enter your mPin to start using Paytm BHIM UPI.

[Also Read: How To Earn Money Using WhatsApp – Most Easy Way To Earn Money Online]

Note: If you have already registered on some other UPI app like Phonepe or BHIM, then you will be already having an mPin set for your account. If not, then you will be asked to set a new mPin for your account.  Just type in a 4 digit (some banks require 6 digit mPin) number which you can easily remember. This will be required for every transaction.

After successful completion of this process you will be assigned a VPA (Virtual Private Address) which will be your phone number followed by @paytm.

For example, if your phone number is 1234567890, then your VPA will be 123456789@paytm. You can use this VPA to send or receive money through UPI.

Now that you have successfully setup Paytm UPI, lets look at various possibilities of sending and receiving money between Phonepe and Paytm.

1. Transfer money from PhonePe to Paytm

Do you frequently use cashless payments? Have you come across situations when you want to use PhonePe but the receiver accepts just Paytm?

Similar situations do arise but Paytm BHIM UPI seems to be a solution to these problems.

Now when we talk about sending money from PhonePe to Paytm, two situations arise:

  1. Sending money from PhonePe to Paytm Wallet.
  2. Transfer from PhonePe to Paytm BHIM UPI VPA (this won’t go to paytm wallet but to your bank account).

Sending money from PhonePe to Paytm Wallet

Let us take some examples to understand this. Suppose your friend owes you Rs 500 and you want him to send it to your Paytm Wallet.

Suppose for some reasons your friend wants to use PhonePe app to do so, there are two ways to accomplish this task.

First Method

You ask your friend to send the money to your Paytm BHIM UPI VPA (similar to 1234567890@paytm discussed above) using PhonePe.

The amount gets credited to your bank account. You can use it to top up your paytm wallet using any payment option including BHIM UPI!

Second Method

You tap on ‘Add Money‘ and use BHIM UPI as your payment option. Now, instead of giving your own VPA, you type in your friend’s VPA (associated with PhonePe). Your friend gets a notification on PhonePe saying that Paytm has requested for Rs 500.

Ask your friend to accept that request and you will see Rs 500 in your paytm wallet.

Transfer from PhonePe to your bank account (using Paytm BHIM UPI)

Using BHIM UPI on Paytm, you can receive money instantly into your bank account if someone sends it to you by UPI. Suppose your friend sends you Rs 500 using PhonePe app to your Paytm VPI, them amount will be directly settled into your bank account.

2. Transfer money from Paytm to PhonePe

When you think of sending money from Paytm to PhonePe, then you will most probably think of sending money from Paytm Wallet to PhonePe.

But let me clear this, when you send money from Paytm to PhonePe, your bank account will be debited not your Paytm Wallet.

So to answer the question if it is possible to send money from Paytm to PhonePe we can say yes but it should be kept in mind that it will be a pure UPI transaction. Wallet balance won’t get affected by this transaction.

How can you carry out this transaction?

There are two ways of sending money from Paytm to PhonePe.

1. Scan and Pay

Follow these steps to send money from Paytm to PhonePe wallet, if you have access to PhonePe QR code of the recipient.

Note: To find your PhonePe QR code, open your PhonePe app and head to My Account>My QR Code.

  1. Once you have access to QR code of recipient, open your Paytm app and select ‘Scan and Pay’.
  2. Scan the PhonePe QR code of the recipient.
  3. Paytm app will read the QR code and retrieve the details of the receiver.
  4. Once you confirm the details, enter the amount you want to transfer from paytm to phonepe.
  5. If transaction succeeds, the amount will be received in the PhonePe wallet of receiver.

As I already mentioned earlier the amount won’t be debited from your Paytm Wallet.

2. Using Paytm BHIM interface

You can also do a similar kind of transaction from Paytm BHIM interface of the Paytm app. To transfer money from your Paytm to PhonePe, this interface gives you some extra options than just scanning a QR code.

You can send money using receivers mobile number, VPA (UPI address), aadhaar number or even account details.

To send money from your Paytm app to PhonePe using this method, follow the steps given below. Please note that this is also a UPI transaction and paytm wallet won’t be debited.

  1. Open your paytm app.
  2. Select BHIM UPI option.
  3. Tap on Send Money.
  4. Enter the receiver Account number/Aadhaar No/UPI address. (If you choose to send money using Account Number, you will need to enter the IFSC code and some other details as well)
  5. Now to send the money from Paytm to PhonePe, you need to enter the receivers PhonePe UPI address (or VPA).
  6. Confirm the details and enter the amount you want to send.

Congrats! You have successfully send money from your Paytm App to PhonePe app.

I have covered all the possibilities of sending and receiving money between Paytm and PhonePe. Hope this guide provides you answers to all your questions.

If you still have any kinds of doubts regarding sending money from Paytm to PhonePe or vice versa, feel free to ask them in comments below.

Zaid Moharkan

Tech Enthusiast, Programmer and a Computer Science Student. You can follow him on Facebook and Instagram.

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