Yes Bank crisis: PhonePe suffers outage after banking partner put under moratorium
Yes Bank crisis: PhonePe suffers outage after banking partner put under moratorium
The Payments firm PhonePe suffered an outage in its services on Thursday after its banking partner Yes Bank was placed under a moratorium by the government.
The firm tweeted last evening that its services were unavailable because of an 'unscheduled maintenance activity'. The payment firm took to Twitter and said: "We are temporarily unavailable. We are going through an unscheduled maintenance activity. We apologize for any inconvenience this may cause. We’ll be back soon."
We are temporarily unavailable.
We are going through an unscheduled maintenance activity. We apologize for any inconvenience this may cause.
We’ll be back soon.— PhonePe (@PhonePe_) March 5, 2020
The company's founder and CEO Sameer Nigam, however, confirmed that the outage had been caused because of the moratorium placed on its banking partner Yes Bank by the government.
