PhonePe apparently has a 24 hour holding period before the payment is transferred to the society. It was mentioned during the payment flow that it could take upto 24 hours for the payment to be credited, however after making the payment, the transaction history showed as successful and there was a notification saying the amount is credited to the recipient account. There was no indication that the transfer to recipient was pending or subject to the 24 hour security hold. This was very misleading. Since it showed as successful everywhere, I informed the society of the transfer but they had never received it. PhonePe support is pathetic and was not helpful at all.
Anyway exactly at the 24 hour mark, got another email saying payment is successful, however this appears the same as the mail that you get when you make the payment. Only difference is that in the included attachment an operator reference number or UTR is added. PhonePe definitely need to work on the UX in the app and email alerts if they are doing this 24 hour security hold.
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View attachment 92188
