ADVERTISEMENT

PhonePe Resumes UPI Services after 24 Hours of Unplanned Maintenance
P

Phonepe e-commerce payment system and a digital wallet company finally resumed its services after 24 hours of unscheduled maintenance.

A blackout of nearly 24 hours because of the Unplanned maintenance activity of PhonePe, an e-commerce payment system, and digital wallet company headquartered in Bangalore, got back into action with its UPI services.

UPI services are provided to users with a rollout phase strategy performed by the PhonePe platform to remove all the malfunctions.

RBI made a rare move recently as a temporary prohibition was applied against Yes Bank and all its sub-partners. Eventually, hitting its digital partners as well.

PhonePe provides UPI services through Yes Bank. And since RBI suspended YesBank. It has increased problems for PhonePe. 

For ease of comeback, PhonePe began disbursing the trader’s balance, which had been stuck already as users would be facing difficulties affecting business continuity with the merchant base of 10 million.

Lately, PhonePe declares that the payment gateway has been restarted, allowing customers to pay by debit card, credit card, or Digi wallet. And yesterday, Rahul Chari, CTO of PhonePe, tweeted about the restoration of UPI payments as well as sharing happiness and love with the loyal users and merchants.

Phonepe and competitors suffer due to Yes Bank’s temporary suspension

Not only PhonePe was suffering from Yes Bank’s temporary suspension, but PhonePe’s competitor, BharatPe, also. 

These two entities wrote to the Reserve Bank of India, seeking their permission to reassign the YBL handle to other banks.

Though in this, YBL got moved to ICICI Bank from Yes Bank at the technical end. Making no impact on customers of PhonePe and allow the company to continue its business as usual. Moreover, the risk of users to use any other UPI decreased.

With an estimation of 40 percent market share, PhonePe is one of India’s top UPI app.

It is to be believed that there’s been a drop of 50% in UPI payments only because of the outage during these last 24 hours.

“Due to strain on UPI network, the ” Check Account Balance” option was temporarily down in the app.” –

Google Pay tweeted. 

+ posts

Sudhanshu is a solemn soul of open mind and intangible thought with some skills in writing and calisthenics.

Disclaimer: The views, thoughts, and opinions expressed in the article have been curated for our audience and does not warrant a 100% accuracy. All the information mentioned in the article is subject to change according to the changing viewpoints. Feel free to reach us at [email protected] for any change or copyright issues.

Note: If you buy something via a link on this page, we might earn a small commission on it.

Sudhanshu Sharma
Sudhanshu Sharma
Sudhanshu is a solemn soul of open mind and intangible thought with some skills in writing and calisthenics.

Leave A Reply

Please enter your comment!
Please enter your name here

related stories

Biyani, Reliance, and Amazon are back on the news, and this time, it's a victory for the two "Indian" Giants as they now reach the final goal of their path.

The ‘Future looks bright for the Biyani-Reliance deal as it concludes on equal grounds

0
2020 has been a year of drama for everyone as well as for Mr. Kishore Biyani. The man who's industrialism and idea of a...
The reptile market is booming and falling at the same time. Booming to a new trend of attractive fashion offered by fashion houses.

How the Animal Hide industry falls endangered to Environmental campaigns?

0
Trade-in wildlife is a driving force of the biodiversity crisis. Unregulated or unregulated trade in wildlife can lead to unsustainable exploitation of wildlife populations....
After Facebook, considering the growing Internet penetration and young population, Twitter is also actively looking to expand its user base in India.

Why Twitter has shifted its focus to India with a sharp eye for international...

0
Twitter is a reflection of what's happening across the globe and what people are talking about. It is a real-time microblogging platform launched in...
During November and December, many companies and start-ups have put up an IPO, an initial public offering to increase capital and increase investor growth.

How Nazara’s IPO launch can boost itself to larger domains?

0
Cricket game developer Nazara Technologies Ltd, supported by billionaire Rakesh Jhunjunwala, became the first Indian gaming technology company to launch mobile entertainment in the...

Prarambh, Indian Startup Ecosystem, and Modi Government

0
The Indian Prime Minister Narendra Modi had announced a Startup India seed funding worth 1,000 crores INR to allow Indian startups to secure initial...
Byju's is setting up a record fo acquiring the best of the startup sector and with the latest acquisition of Aakash Educational Services Limited.

Is Byju’s aiming at monopoly with the 1 billion dollar acquisition of Aakash?

0
The education sector is rapidly changing. The way of education itself is changing, but at what rate? Is it alarming, or is it unprecedented?...
One can improve several areas of one's entrepreneurial, business, and leadership skills with the Art of War by Sun Tzu. Let's take a look at these lessons.

‘The Art of War’: Startup Lessons for Modern Entrepreneurs

0
The Art of War by Sun Tzu is a book that focuses on military strategy, written about 2,500 years ago. Even though the book...
The CoWin app is the news of the Nation. An Indian extension of the eVin app introduced by the United Nations has developed the vaccine's beneficiaries.

Will CoWin’s unique process encourage a clean vaccine drive for India?

0
The Nation has been through a lot during the past nine months. Millions of cases and thousands of deaths had hampered the decisive ability...
ADVERTISEMENT