No, that's an old method for sending money from one account to another account. PhonePe supports multiple payment methods from which you can transfer money without remembering bank account details like IFSC. Although it supports this feature from which you can send money using bank account details like account number, name, and IFSC code. Here is a list of multiple payment options which is easier as compared to send money using bank account details. 1. Transfer Money Using Mobile Number 2. Send & Receive Money Using VPA 3. Scan & Pay Using QR Code