PhonePe stops all UPI-based payments on Flipkart website. Is India not ready with UPI based payment service yet?
AdvertisementSituations 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
“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.
Popular on BI
- We asked ChatGPT who the greatest athlete of all time is and it did not go well for LeBron James
- A man kept the same pair of contact lenses in for 3 years, causing permanent astigmatism and buildup behind his eyelids. His doctor said he's not responsible enough to wear contacts.
- Clarence Thomas wrote a scathing, nearly 50-page dissent about why the Supreme Court should have gutted voting rights
- JioTag — A pocket-friendly alternative to Apple AirTag for finding your lost belongings
- Realme 11 Pro Plus vs Redmi Note 12 Pro Plus – the under ₹30,000 phone to buy
- How Tata Communications plans to chart its financial turnaround
- Railway jobs: 12,000 recruited under 'Rozgar Mela' initiative
- List of famous things to buy in Goa