State Bank of India (SBI) has been experiencing disruptions in its Unified Payments Interface (NASDAQ:TILE) (UPI) services due to an ongoing technology upgrade. Services like Google (NASDAQ:GOOGL) Pay, PhonePe, and Paytm have been declining transactions due to the issue. Users have reported problems making payments, verifying account balances, and confirming successful transfers after account debits.
The bank acknowledged the disruptions on Monday, attributing them to the technology upgrade causing periodic fluctuations in UPI services. The specific details of the upgrade remain undisclosed, but the bank has promised updates to its customers. The timing of these disruptions during the festive season has led to widespread dissatisfaction among users who voiced their grievances on social media. The issues have affected thousands of users, particularly in the state of Odisha, causing difficulties with online transactions.
In parallel with its tech upgrade, SBI introduced a Mobile Handheld Device that enables doorstep banking. This initiative provides core banking services such as cash withdrawal, deposit, balance inquiry, fund transfer, and mini statement—services which constitute over 75% of transactions at SBI's Customer Service Point (CSP (LON:CSPC)) outlets.
As part of its expansion plans, SBI aims to broaden these offerings to include additional services like enrollment under social security schemes, account opening, remittance, and card-based services. This move is expected to further enhance the bank's customer service capabilities and reach.
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