Technological innovation at the heart of financial inclusion
PhonePe is a fintech dedicated to ensuring the speed and reliability of money transfers and transactions in India. Its aim is financial inclusion for businesses, merchants and consumers, as well as individuals. Since its creation, the number of users of its services has grown steadily. Today, it has 38 million customers in India and 510 million end-users in Asia.
PhonePe bridges the gap between the banked and the unbanked. Now, different segments of society can access digital payment services. It reaches an ever-wider audience. And, thanks to its presence in over a hundred countries, it carries out 4.5 billion transactions every month.
Convenience and safety are the platform's watchwords
The company is committed to continuous improvement of its mobile payment platform. This guideline involves constant technological monitoring to offer its millions of users new functionalities. The tokenization of PhonePe devices is part of this approach, with the aim of offering greater convenience and security.
This process converts sensitive credit and debit cardholder data into a succession of numbers. Generated at random, these numbers are considered tamper-proof. Once the cards have been tokenized on PhonePe, cardholders have access to tokens for all kinds of transactions: purchases, bill payments, travel reservations, etc.
Bankcard tokenization in just a few quick and easy steps
PhonePe tokenization is a simple process, involving just a few steps. The first is to install the application and open it to access the platform. Next, simply click on "Profile", then "Credit and debit cards" and "Add new cards". Enter your card details and OTP.
Adding the OTP is the final step in card registration. Activating this new function further enhances the security of transactions. It also facilitates payments, with the guarantee that sensitive information is protected. It eliminates the need for manual entry every time a card is used for a purchase or money transfer.
Once a card has been tokenized on PhonePe, it is no longer necessary to enter the details manually for each merchant. Customers benefit from smooth, trouble-free transactions.
