“There is a certain degree of apprehension about KYC (know your customer) standards of digital payment app of non-banks. As of Friday last week , India 's Reserve Bank has stopped any transactions on the payments via PhonePe , according to the software 's developer Sameer Nigam . This comes as a result of increased security issues regarding access to UPI data and information , according to a ICICI spokesperson .
As of Friday last week , India 's Reserve Bank has stopped any transactions on the payments via PhonePe , according to the software 's developer Sameer Nigam . This comes as a result of increased security issues regarding access to UPI data and information , according to a ICICI spokesperson .