UPI Faces Second Outage In A Week
UPI experienced transaction failures on Wednesday, impacting popular online platforms. NPCI acknowledged the issue, attributing it to fluctuations in success rates in certain banks.
UPI users on Wednesday faced transaction failures while making payments through popular online platforms like Google Pay and Paytm.
This is the second time in a week that UPI services were impacted. On March 26, a widespread outage of UPI was reported.
According to outage tracking platform Downdetector, complaints about UPI failures were received throughout the day, peaking in the evening.
The Unified Payments Interface (UPI) is an instant payment system developed and managed by the NPCI, an RBI-regulated entity.
NPCI acknowledged that users of some banks faced problems while transacting through the UPI and it is in touch with them to resolve the issue.
"There were some intermittent declines in UPI due to fluctuations in the success rates in some banks. These fluctuations increased the latency in UPI network. NPCI has been working closely with them and UPI has been stable," NPCI said in a post on X.
UPI is built over the IMPS infrastructure and allows you to instantly transfer money between any two parties' bank accounts with no user charge.
It is also widely used for small payments at local shops, as there is no minimum transaction limit. In addition, UPI offers a convenient AutoPay feature, which allows users to set up recurring payments for bills and subscriptions.
It is to be noted that transactions through UPI touched a record high of Rs 24.77 lakh crore in March, recording a growth of 12.7 per cent over the preceding month.
The UPI transaction value was Rs 21.96 lakh crore in February.
(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
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