I am a PhonePe user since 2019 April and it is a good apllication for money transfer through UPI method of transaction.They award cashbacks and certain rewards in gift cards.It is also one of the fast methods of transaction in India.But a major drawback is that the KYC completion of PhonePe is not available for a long period of time and because of that the user cannot transfer money from his/her PhonePe wallet to their bank accounts and they can only transfer money from their credit/debit cards to their PhonePe wallet only which makes it a non reliable process and it is a less encrypted platform but still it can be used for recharges and buying products online from the wallet.