As of Friday last week, India's ICICI Bank has stopped any transactions on the payments app PhonePe, according to the app's CEO Sameer Nigam. The move comes after a group of Indian banks and mobile operators threatened to pull out of the service over concerns about its privacy safeguards.
As of Friday last week, India's ICICI Bank has stopped any transactions on the payments app PhonePe, according to the app's CEO Sameer Nigam. This comes as a result of increased security issues regarding access to UPI data and information, according to a ICICI spokesperson.