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ICICI Bank removes block on UPI transactions from PhonePe

ICICI Bank has ended its very public spat with Flipkart-owned YES Bank application PhonePe and is now allowing customers to make transactions on the wallet app again.  On January 13, ICICI Bank blocked UPI payments from PhonePe. The new wallet said that more than 20,000 transactions with total value of over Rs 5 crore failed because of ICICI Bank’s move. The issue started a few days earlier when Flipkart's app started allowing UPI payments. It was alleged that PhonePe violated the merchant guidelines, and when it launched, it wasn’t easy for users to pay using a VPA other than the YES Bank one (@ybl). On the Flipkart app it showed pay "via PhonePe UPI" instead of "pay via UPI" and allowing customers to choose the app of their choice. What's changed now The Economic Times reports that ICICI Bank resumed transactions on all…

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