PhonePe stops all UPI-based payments on Flipkart website. Is India not ready with UPI based payment service yet?
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Situations after demonetisation aren’t very comfortable as the government pushes for digital economy, but the instruments to implement doesnt. While there have been countless instances earlier, the PhonePe-What exactly happened?
If the ICICI Bank is to be believed, Phone Pe was following restrictive practice in UPI payments by only allowing the users of its own
The Phone Pe has requested National Payments Corporation of India (NPCI), the developer of the Unified Payments Interface (UPI), to allow interoperability.
What’s the situation now?
“We have made multiple requests to
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“Under the current circumstances we believe it’s unfair to subject our own merchants, including Flipkart, to such poor service quality. We requested Flipkart to allow us to temporarily suspend UPI-based payments on the Flipkart app until this issue is properly resolved,” PhonePe added.
Last Thusrday, NPCI had a tripartite discussion among ICICI Bank,
However a day back, NPCI did a U-turn and said that Flipkart’s e-wallet had violated interoperability norms.
ICICI Bank has further confirmed that once Phone Pe allows interoperability, UPI transactions for the app will be opened.
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