PhonePe users can now create and use multiple UPI IDs with Axis Bank’s ‘@axl’ handle. PhonePe will also start acquiring merchants with Axis Bank.
According to the company, the goal of the collaboration with multiple banking partners is to strengthen the overall service reliability and uptime of the company’s offering. With the option to use multiple UPI IDs, PhonePe aims to ensure that user can still make transactions even if a bank's handle is temporarily out of service.
PhonePe has previously teamed up with YES Bank and ICICI bank for creating and using UPI IDs for the online payments multi-bank model.
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