PhonePe, India’s digital transaction platform based on Unified Payment Interface (UPI) has temporarily resumed its services due to the RBI’s 30 days moratorium on Yes Bank. This sudden bank outage imposed yesterday has badly affected PhonePe customers. The reason is very evident. It has millions of customers in the whole country.
Indian e-commerce payment system and digital wallet company PhonePe have closed? Will the customers no longer be able to use the app? What is the reason behind the sudden shutdown? Many such questions are going on social media at the moment. Petrol pumps, grocery stores have refused to take phone calls.
Many services of the private sector Yes Bank have been banned by the Reserve Bank of India. This has brought the biggest impact on the digital wallet company PhonePe. Their service has been resumed. The transactions are currently unavailable.
Companies like Flipkart, Swiggy and MakeMyTrip have also deleted PhonePe from their systems. The UPI option has also been removed from Flipkart and Swiggy. Those, whose money was in the wallet for payment, will be stuck for the time being. No official statement has been released by PhonePe yet. But, the company’s CEO Sameer Nigam has tweeted a tweet.
Sameer Nigam has written to customers on Twitter- “Dear @PhonePe_ customers. We sincerely regret the long outage. Our partner bank (Yes Bank) was placed under moratorium by RBI. The entire team’s been working all night to get services back up asap. We hope to be live in a few hours. Thanks for your patience. Stay tuned for updates!”
However, Swiggy and ClearTrip refused to say anything and will issue an official statement in this matter in a while. When the statement is released, the information will be added to the story.
