After YES Bank restrictions, PhonPe in talks with other banks

Digital banking and wallets for making payments online are now trending these days. People are getting digital solution for all their requirements. One such app is PhonePe.

PhonePe is trying their best to add more and more payment service provider partners in order to reach all their customers and providing them the UPI transaction options available with their bank.

PhonePe is an app available 24 hours a day. However, they has seen a service outrage for more than 24 hours after the moratorium on YES bank on 5th March. Their team worked hard with all the national payments corporation of India and with their new UPI partner, ICICI bank to make sure that they can get back with their service.

The founder of PhonePe and CEO Ssmeer Nigam told- “We were actively working on adding other PSP partners, this is also as per the recent NPCI advisory… PhonePe will shortly be launching an additional VPA (virtual payment address) with ICICI bank. it will mean PhonePe users will have a choice of two handles from two different banks to work with. All PhonePe consumer @ybl handles are working as before and all 10 million of our merchant QR codes are working seamlessly as well. The platform processed over Rs4,000 crore worth of transactions in 24 hours and saw its largest-ever volume of user traffic in a single day (with over 70 million app sessions),”

PhonePe is one of the leading digital wallet with a good reputed goodwill. They are working hard on making their services efficient day by day. And with the YES Bank restrictions, the app is not sure how to provide the best services to their users.

According to the trusted sources, PhonePe is engaged in dialogue with HDFC Bank, State bank of India, Axis bank and RBL Bank. However, on the same, the app has declined to comment anything.