PhonePe goes down as UPI partner Yes Bank put under moratorium

Flipkart's UPI payments app PhonePe is down since late Thursday after its partner bank Yes Bank was put under moratorium by the government. "We sincerely regret the long outage...Entire team's been working all night to get services back up as soon as possible," PhonePe CEO Sameer Nigam tweeted. Several fintech startups used Yes Bank's software interface to integrate with UPI.