ICICI, PhonePe UPI Impasse Comes to a Close gadgets.ndtv.com

 Last week, ICICI bank started blocking UPI transactions from the @ybl virtual payment address (VPA) that is used by the PhonePe app from Flipkart, powered by Yes Bank. This of course runs contrary to the whole idea behind the UPI – it's supposed to be an interoperable layer that works between all banks, allowing for easy digital payments. Having banks block legitimate VPAs undermines the concept, and what's worse, ICICI did not offer any substantiative statement about the block either.