How Can I Transfer Money From Paytm To PhonePe Wallet? [Step by Step guide]

Online money transfer platforms are rapidly replacing the work that was at first done by bank agents in transferring money from one place to another. This is thanks to the advancement in digital technology, which has facilitated financial transactions online through different platforms.

Inhabitances of country like India, face little or no challenges with financial transaction online due to platforms like PhonePe and Paytm.

Paytm and PhonePe are two platforms use in India to transfer money to family members, friends or make payments and also place orders.

At times, people may want to transfer money between two platforms like; transferring money from PhonePe to bank account, from Paytm wallet to Google Pay, from Paytm to bank account or even from Paytm to PhonePe.

In this article, you will be guided on how you can transfer money from Paytm to PhonePe wallet. But we will have a brief introduction on what PhonePe and Paytm app are.

What is Paytm App ?

Before we look at how to transfer money from Paytm to PhonePe wallet, let us first understand what Paytm is.

Paytm is an Indian digital payments and a financial services company which was founded in 2010 by Vijay Shekhar Sharma under One97 Communications. This company is headquartered in Noida, India.

Paytm stands for "Pay through mobile". It is a platform which allows its users to transfer money instantly to other users using the paytm wallet at a zero cost. It also helps its users to pay bills such as utility bills, flight tickets, etc. It also enables its users to do online shopping right at the comfort of their homes.

This platform accepts cash from bank account, debit/credit cards, and partners in to it wallet.

What is A Paytm Wallet?

Paytm wallet is a secure and RBI-approved digital/virtual wallet that can be used on your mobile phone to meet up with your financial transactions.

With this wallet, you can send money to your bank account or to another user, as well as you can also withdraw money from your bank to the paytm wallet if your bank accept the paytm platform.

Money in the Paytm wallet is like ready-to-use cash that you can access at any time and place. And can be use to pay; utility bills (like electricity bills), pay for flight tickets, online shopping through paytm Mall and many others which are not mention.

You might like to know: How To Transfer Money From Paytm Wallet To Bank Account.

What Is PhonePe?

PhonePe is an Indian digital payments and financial technological company that was founded in December 2015 by Sameer Nigam, Rahul Chari and Burzin Engineer. The headquarters of this company are in Bengaluru, Karnataka, India.

PhonePe mobile app, uses the Unified Payment Interface (UPI) and it is licensed by the Reserve Bank of India for insurance and operation of a Semi Closed Prepaid Payment system.

Users can link their bank account, credit card, or debit card to the PhonePe app using their UPI ID and account or card details. It also has a wallet to keep cash.

With PhonePe, you can transfer money across India using UPI, recharge your phone, pay utility bills, pay for flight tickets, book hotel services, order food online and etc.

You might like to know: How To Send Money From PhonePe Wallet To A Linked Bank Account

Can We Send or Transfer Money From Paytm To PhonePe?

Although Paytm is widely used in India just like PayPal which is widely used in the United States of America (U.S.A), there are times when there is a need to transfer money from Paytm Wallet to PhonePe wallet. The good thing is that, you can transfer money from Paytm to PhonePe. Just follow the steps below;

Step 1: Open the PhonePe App

After you have download, insulted and created a PhonePe account, on your phone, tap on the app icon which is blue in color to open the app.

Step 2: Tap on your Profile

If you have set a profile picture, you will see it when you open the app. If you don't have, you'll see a blank space on the picture icon. Tap it to access the PhonePe app's settings.

Step 3: Tap on My BHIM UPI ID

On the pop-up page, you will see options such as My QR Code, My BHIM UPI ID, My Address, My Language, and others; tap on the My BHIM UPI ID option.

Step 4: Copy your BHIM UPI ID

The BHIM UPI ID will be displayed on the screen after you tap on it in step 3 above. Tap and hold to copy. Transferring money from Paytm to PhonePe requires your BHIM UPI ID.

Steps 1–4 are only required if you do not know your BHIM UPI ID. Because if you do, you will begin at step 5.

Step 5: Open the Paytm app and tap on UPI

Tap the Paytm app icon on your phone's screen to open it, and then, at the top of the Paytm app, select/tap UPI from the many options that the app will present as you scroll down.

Step 6: Tap on Money Transfer option

After you tap the UPI option, a new screen will appear with the UPI QR Code and options such as Money Transfer, Request Money, and Scan & Pay. To transfer money from Paytm Wallet to PhonePe wallet, tap on Money Transfer.

Step 7: Enter your bank account number or UPI ID.

To transfer money to your PhonePe wallet, enter the UPI ID that you copied from the PhonePe app. If you copied as described in step 4, simply tap and hold on the box that says 'Enter Bank Account No./ UPI ID,' and the paste option will appear. To paste the copied UPI ID, tap on paste. If you remember the UPI ID, you can also enter it manually.

Step 8: Tap on Proceed

After you've double-checked that your UPI ID is correct, tap the 'Proceed' button directly below the UPI ID box.

Step 9: Enter the Amount and tap Proceed

You must enter the amount you want to transfer from Paytm to PhonePe in the box provided. Tap the box and enter the amount, then tap 'Proceed' near the bottom of the page.

Step 10: Tap on Confirm Money Transfer

When everything is in order, you can select the Confirm Transfer option.

Step 11: Enter your UPI PIN

After you confirm payment, enter your UPI PIN to proceed with the transaction. Tap the SHOW button to see if your UPI PIN is correct. After entering your UPI PIN, you will be notified with a green tick mark if the payment was successful or not.

Step 12: Open the PhonePe app and tap on Wallet Top-Up

You will now re-open the PhonePe app by tapping on the icon as in step 1. There are numerous options under the Money Transfers section; select the 'Wallet Top-up' option.

Step 13: Enter the Amount

After that, in the space provided, enter the exact amount you transferred from your Paytm wallet to top up your PhonePe wallet.

Step 14: Choose the method of payment

At this point, all the linked accounts which are connected to PhonePe will be displays, including debit card. You should select BHIM UPI as your payment method.

Step 15: Tap on Top-up Wallet and also on Proceed

After selecting the payment UPI ID, tap on the TOPUP Wallet option at the bottom of the page. Following this, you will see a pop-up message asking you to either Proceed or Dismiss the money-adding process. Select Proceed.

Step 16: Enter the UPI PIN

To complete the payment, enter the UPI PIN. You can also select SHOW to see the UPI PIN as you enter it.

Step 17: Transaction Successful

Following a successful transaction, you will see a success message on the PhonePe app indicating that you have successfully transferred money from Paytm to your PhonePe wallet.

PhonePe wallet funds can be used to pay bills, shop, and do a variety of other things. The disadvantage in this case is that the money cannot be transferred back to a bank account. So proceed with caution when making such a transfer.

Note that during the transfer of money from Paytm to PhonePe, the UPI ID for PhonePe is very important to enable a successful transfer.

How To Scan And Pay From PhonePe Wallet Using QR Code

With your PhonePe app to make payments using a QR code and the Scan and Pay option. Just like Walmart Pay which also uses a generated QR code to make payments at Walmart stores, you can use PhonePe to make payments where it is accepted through the QR code. Follow the steps below:

Open your PhonePe app by tap on the app icon on your phone screen.
At the top of the app home screen, tap on the QR code icon. This will launch the scanner immediately.
The Scan and Pay screen will open and request you to point your phone camera on the generated QR code that you want to scan in order to make a payment.
After scanning is complete and the QR code read, you will be notified and redirected to the Payment page. It is important to noted that the amount to be paid will be automatically fetched if you scanned a QR code with the amount included. Or Enter the amount to be paid.
Select a payment mode
Tap on the "Pay" button
Enter your UPI PIN to authorized payment if your are using UPI to make this payment.

Read the article to have a better understanding of payments using QR code: Can I Use The Walmart Pay App To Make Payments At Walmart?

How To Transfer Money From Paytm Wallet To Bank Account

Final Thought

Transferring money from Paytm to PhonePe wallet is a simple but time-consuming process. The steps outlined above will help you complete a successful transfer.

It should be noted that Paytm and PhonePe are used to conduct transactions both within and outside of India..

Aside from using your BHIM UPI, you can also used a debit card, credit card to add money to PhonePe wallet. See step 14 above.

FAQs:

What is a Valid PhonePe payment?

Within the PhonePe app, valid payments can be made using BHIM UPI, Debit card, Credit card, or Wallet.

Cashback is valid on transactions initiated and completed on PhonePe using a PhonePe linked bank account for UPI users.

What is the Meaning of BHIM UPI ID?

Bharat Interface of Money Unified Payment Interface Identification is abbreviated as BHIM UPI ID. This is a security code that allows you to make a transfer.

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