PhonePe and Paytm
Call it an example of corporate rivalry or poking fun at a rival. RBI’s moratorium on Yes Bank led to Phone Pe and Paytm, the two leading fintech firms, having a twitter exchange.
Since yesterday, the PhonePe app has been facing operational issues. Another mobile wallet- Paytm- used this as an opportunity to extend an invite to Phone Pe. In a tweet, Paytm invited Phone Pe to join its UPI platform. The tweet reads:
“Dear @PhonePe_,
Inviting you to @PaytmBank #UPI platform. It already has huge adoption and can seamlessly scale manifold to handle your business. Let’s get you back up, fast!”

Replying to this jibe, PhonePe tweeted:
“Dear @PaytmBank,
Inviting you to consider that if your #UPI platform was so ‘seamlessly scalable’, we’d have called you ourselves. No point getting back up faster if we have to desert our long term partners when they’re down. Form is temporary, class is permanent.”

This interesting conversation where Paytm said that they were helping out their “digital payment users” in need.
This also brought out some funny reactions from the netizens, where most of them were laughing over the sweet rivalry between the two fintech operators.

RBI has put Yes Bank under moratorium till April 3. The withdrawal limit has been set at Rs 50,000 per month.


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