UPI player PhonePe on Monday evening experienced a technical disruption that resulted in several transaction failures. The company said the Monday evening peak traffic exposed a network capacity shortfall due to which transactions started failing.
PhonePe's co-founder Rahul Chari on X said, "Given the escalation of the conflict last week, at PhonePe we initiated active DR drills, with heightened cybersecurity measures on our network firewall. This evening, 100% of our traffic across all our services was being served through a new data center."
"Unfortunately, the Monday evening peak traffic exposed a network capacity shortfall due to which transactions started failing. We have now rebalanced our traffic across our other sites and are seeing the recovery. Our apologies for this. We assure to take these learnings and further strengthen our systems," he added on X.
The fintech firm in March crossed 60 crore registered users on its platform. In February, the company had started preparations for a public listing on the Indian stock market.