PhonePe, India’s leading fintech company, faced a significant technical glitch that led to the failure of transactions on its platform. The issue, which began during peak traffic hours on a Monday evening, was traced to a network capacity shortfall when the company switched traffic to a new data centre. The company’s co-founder, Rahul Chari, confirmed the swift response and recovery efforts, assuring users that necessary steps were being taken to improve its system’s capacity and security.
