PhonePe has a very bad app using an obsolete API and poor features and functionalities that do not work. This is why there is a chance of losing your money and getting your money transferred to other’s account. As a consequence of it, you will lose your money.
To test it, you please go to "add account option" and fill up the fields with a name, phone no and different account numbers in the fields of "account number" and "confirm account no" with which the name and phone number of the account holder’s has no connection. your money will be transferred to any of these accounts. I have faced this problem and lost my money. For more, contact me at 980084xxxx.