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PhonePe inks partnership with ICICI Bank for UPI Transactions

Sumit Arora Published On March 12th, 2020 Leave a comment

PhonePe inks partnership with private sector lender ICICI Bank for UPI transactions. PhonePe earlier partnered with Yes Bank, but after YES Bank has been placed under moratorium by Reserve Bank of India due to which UPI transactions at PhonePe got disrupted. The popular payment app had faced outage for nearly 24 hours after the Reserve Bank of India put a moratorium on March 5.

Important takeaways for all competitive exams:

The parent organization of Phonepe: Flipkart.
Phonepe founded: December 2015.
CEO of Phonepe: Sameer Nigam.
Headquarters location: Bengaluru, Karnataka.

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About the Author

Sumit Arora

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As a team lead and current affairs writer at Adda247, my role involves researching and creating informative and engaging content aimed at helping candidates prepare for national and state-level competitive government exams. I specialize in delivering insightful articles that keep aspirants updated on the latest current affairs trends and developments. My primary focus is on educational excellence, ensuring that our readers are well-prepared and informed to face their exams with confidence. Through meticulously crafted content, I aim to guide and support candidates in their journey toward success.