Saturday, 28 January 2023

Google Pay, Paytm, UPI Payments Face Glitch, UPI service restored

Google Pay, Paytm, UPI Payments Face Glitch, UPI service restored

The services of the UPI (Unified Payments Interface) server, which was down for more than an hour on Sunday, have now been restored. "UPI (Unified Payments Interface) services are working as usual. Many users may have experienced issues while using the Unified Payments Interface for a brief period, around 8 PM (on 24th April). The momentary issue with some UPI ecosystem partners has been resolved," the National Payments Corporation of India (NPCI) said on Monday.

Yesterday, many users took to social media to complain about the failed transaction through major UPI apps like PhonePe, Google Pay, and Paytm. Users were notified of failed payments after long processing times.

The UPI server went down hours after Prime Minister Narendra Modi said digital transactions worth ₹20,000 crores were taking place daily during his monthly Mann Ki Baat radio broadcast. PM Modi also urged Indian citizens to go digital with payments. "People should go for 'Cashless Day out,' now people are using UPI even in small villages and towns. It's benefitting both shopkeepers and customers. Online payments are developing a digital economy; everyday ₹20,000 crore online transactions are taking place," he said.

Read More: Google Wallet is Expected to return as part of Google Pay

Unified Payments Interface (UPI) is a system that powers multiple bank accounts into a single mobile app (of any participating bank), merging several banking features, seamless fund routing & merchant payments into one hood.

Introduced by the NPCI, the real-time payments system accounts for over 60 percent of retail transactions in India. The majority of these transactions are low-value, with volumes of transactions below Rs 100 making up for 75 percent of the total. UPI saw 540 crore transactions worth Rs 9.60 lakh crore in just March.