If you shop online using a debit or credit card, PhonePe has introduced a new solution called Bolt that will make payments quicker and more secure.
This feature is designed for both customers and merchants, simplifying the checkout process and reducing the chances of payment failures.
What Is Bolt and How Does It Work?
Paying online usually requires entering your card number and CVV every time, which can be time-consuming and risky.
Bolt changes this with tokenization technology.
Here’s how it works:
You tokenize your Visa or MasterCard once on the PhonePe app.
After that, you can make payments on any merchant app using the same saved card.
You no longer need to enter your CVV for every transaction.
There’s no redirect to the bank’s website, which reduces the risk of payment failure.
In short, Bolt makes payments faster, safer, and hassle-free.
Benefits for Customers and Merchants
PhonePe CBO Yuvraj Singh Shekhawat explained that Bolt is designed to simplify digital payments for millions of users.
Some key benefits include:
Reduced transaction failures due to a shorter checkout process.
Customizable integration for merchants, making payments easier for customers.
Secure payments because tokens replace card details, preventing data theft.
Merchants using PhonePe’s native SDK can now offer faster, safer, and smoother checkout experiences, while customers save time and stay protected.
How to Tokenize Your Card on PhonePe
Follow these simple steps to enable Bolt:
Open the PhonePe app on your smartphone.
Tap your profile and select Debit and Credit Cards.
Choose your card if it’s already saved.
Tick the checkbox labeled “Secure your card as per RBI guidelines” to start the tokenization.
Enter the OTP sent to your registered mobile number.
After verification, your card will be tokenized.
Once tokenized, you can enjoy one-click payments on any merchant app without entering your card details repeatedly.
Bolt is an excellent feature for anyone who wants faster online payments, increased security, and a smoother checkout experience.
By combining tokenization with PhonePe’s app, both customers and merchants benefit from a smarter, safer digital payment system.
