Paytm and PhonePe, the two most biggest UPI operators in the country took a blow at each other on social media platforms following YES Bank’s halt impact on PhonePe’s UPI transactions.
The clash of transactional players
Since yesterday PhonePe’s UPI service has been non-transactional due to Yes Bank breaks down, who were their exclusive banking partner. The UPI services were stated unavailable after capital-starved YES Bank was placed under a temporary prohibition by the RBI, which also reaches to YES Banks’ banking handles (YBL), troubling its digital partners simultaneously.
Folks, we are almost there! Our services will be up & running really soon. Thank you for your patience & support. pic.twitter.com/RBUgyX8j5a
— PhonePe (@PhonePe_) March 6, 2020
Looking to the situation, Paytm Payments Bank took a jibe on PhonePe by inviting them to work with its payments bank as an acquirer. Paytm further suggested that it already has a massive adoption and can “seamlessly scale manifold” to handle PhonePe’s business as well.
Dear @PhonePe_ ,
Inviting you to @PaytmBank #UPI platform. It already has huge adoption and can seamlessly scale manifold to handle your business.
Let’s get you back up, fast!
— Paytm Payments Bank (@PaytmBank) March 6, 2020
PhonePe in its answer took a dig at Paytm asserting that if its UPI handle was so ‘seamlessly scalable’, then they would have included it long back. Moreover, PhonePe tweeted in aid of its long-time partner YES Bank, saying they would rather prefer supporting their long time partners in this difficult time. They ended up in a style as they believed that, “Form is temporary, the class is permanent,” for good measure.
Dear @PaytmBank
Inviting you to consider that if your #UPI platform was so 'seamlessly scalable', we'd have called you ourselves.No point getting back up faster, if we have to desert our long term partners when they're down. Form is temporary, class is permanent.
— PhonePe (@PhonePe_) March 6, 2020
For this tweet, Paytm Payments Bank responded, “…we care for your digital users. Isn’t that the classy thing to do?”
Just helping @PhonePe_, we care for all digital payments users.
Isn't that the classy thing to do? Goodluck! ???
— Paytm Payments Bank (@PaytmBank) March 6, 2020
