PhonePe is one of the most popular payment methods to use to move money around in India. As such, it is usually one of the very best banking options to use at Indian online betting sites.
With the PhonePe app being accessible in 11 Indian languages, it is a useful resource and more than 500 million people have already signed up to use the service - it is truly ubiquitous now. Our guide to PhonePe cricket betting sites tells you all you need to know, so read on for more.
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100% up to ₹10,000PhonePe was launched a decade ago in December 2015. Within a year of the company's creation, the team being PhonePe joined forces with Yes Bank to create a UPI-based mobile payment app.
This helped to supercharge its popularity in India, with PhonePe now being majority owned by Walmart, the supermarket chain from the United States, which wants to launch an IPO.
PhonePe has also taken home various prizes over the years, including at the India Advertising Awards 2018 where it triumphed in the Telecom and Technology category.
As with all betting payment methods, there are some advantages, as well as some draw backs as you'll see below:
Overall, some one in three Indians now use PhonePe as one of their online payment methods. So let's dive deeper to see if this is the right betting payment method for you:
PhonePe has made security a very high priority, using an advanced security infrastructure.
To make a transaction using PhonePe, a consumer will need to use fingerprint/face ID, along with adding both their UPI PIN and password for authentication.
Security teams at PhonePe closely monitor all transactions in real-time, which makes sure that they are able to block any suspicious activity.
Fraud complaints are also reported and fraudulent users blocked from accessing PhonePe.
PhonePe works with organisations like National Cybercrime Portal, CyCord and CyberSafe and the latest encryption technology has also been incorporated by the company as well.
So, is it straightforward to use PhonePe as a deposit or withdrawal option? Let's take a look.
Keep in mind that online betting sites that accept Indian customers are likely to set their own minimum and maximum PhonePe limits, so always check this before picking the method.
Deposits made using PhonePe are rapid with the money added to accounts right away.
For withdrawals, it can depend on the speed transactions are processed by PhonePe cricket betting sites. But most users will get their money within a few hours.
While some payment methods allow Indian users to be anonymous at online gambling sites, this is not the case with PhonePe at the present time.
PhonePe requires its users to provide their real name when they sign up to use the service.
Fingerprint/Face ID are also needed as part of the security standards in place at PhonePe.
Follow our quick step-by-step guide to making online betting deposits using PhonePe:
Follow our quick step-by-step guide to making online betting deposits using PhonePe:
PhonePe is one of the most popular payment methods in India - the company claims around one in three Indians has signed up - so it is a natural choice to use for online betting.
With very high security standards, users can feel assured their money is safe using PhonePe.
However, unlike some online gambling payment methods such as cryptocurrency, it is not possible to remain anonymous when using PhonePe to make a deposit online.
Regardless, benefits of using PhonePe for online betting in India include the fact it is supported by almost all bookmakers that can be joined in the country.
There are also no fees for making deposits with PhonePe and users get to keep all of their winnings as there is not usually any charge for withdrawing via the payment method either.
It is clear that PhonePe is one of the best payment methods to use for gambling in India.
From the wide range of possible payment methods, we thoroughly recommend PhonePe.
Our full list of Indian betting sites that accept PhonePe can be found right here on this page.
Yes, PhonePe is one of the best payment methods to use at online betting sites in India. PhonePe Group claims to be India's leading fintech company.
The speed of PhonePe withdrawals depends on the betting site used. But it is normally fast.
Yes, PhonePe is considered one of the safest and most secure online payment methods to use. Fingerprint/Face ID is among the security standards in place to ensure safe transactions.
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