I have been using this app since long and now I am going to share my own review of it.I really had an terrible experience with it.One of the major drawback of PhonePe is that If once your PhonePe wallet is deactivated it cannot be re-activated again, which can cause inconvenience and interruption to your services.Sometimes, when you pay through the app, it shows ‘Processing continues’. And it remains for a long period. Sometimes 2 to 3 days because of technical issue which can be very annoying.Cashback limitations on phonepe app are too low although they will show you upto Rs1000 cashbacks but at last you will get only 10-30 Rs of cashback which according to me is very low.Sometimes, phonepe app can be very slower and can delay your payment which can cause disruptions to its user.Customer service of PhonePe is very slow.If you call them they mention the offer is not valid even if the payment has been done through phonepe since it’s an external payment.Some of the limitations of Using PhonePe app are as follows.
1) LESS SECURE - PhonePe seems to be little less secure.when you tap on the Phonepe app in your mobile, the dashboard opens without any authentication. It neither asks you PIN nor password to open which means anyone can access your Phonepe wallet and can make transactions without your permission, which can result in loss of money and inconvenience.
2) .NO INTEREST ON YOUR WALLET DEPOSIT - Phonepe does not give you interest on your Wallet Deposit which other apps like paytm gives i.e 3.5% per annum.
3) .SERVICE AND SUPPORT - There customer service is pathetic.They does not try to solve your issue.It is very difficult to reach out to their executive.There customer executive seems very Unprofessional.Somtimes they can be very rude and harsh.
4) .Sometimes, PhonePe app can be very slower which can result in delay of transaction and late payment.
5) .You cannot access all feature of phonepe since you does not complete your kyc, which is a very complicated process.
FROM MY PERSONAL EXPERIENCE I STRICTLY RECOMMEND NOT TO PREFER PhonePe