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PhonePe Approaches Police Over Mass Burning Of Their QR Codes

PhonePe has approached Surajpur Lakhnawali police station authorities by alleging that Paytm employees burnt its QR codes.

Photo Credit : Amlanmathur


PhonePe has approached Surajpur Lakhnawali police station authorities by alleging that Paytm employees burnt its QR codes. The Unified Payments Interface (UPI) giant PhonePe says this happened in Greater Noida. 

PhonePe went ahead with its complaint after a video surfaced which showed a pile of its QR codes on fire. As per reports, three employees of Paytm have been identified in the video, one of which is an ex-PhonePe employee. A Paytm Area Sales Manager, too, has been identified explicitly. As per a Paytm spokesperson, the identified employees have been suspended with immediate effect. 

As per reports, the complaint letter filed by PhonePe mentions that the act was carried out intentionally to harm its reputation and business.  A PhonePe spokesperson affirmed the company’s trust in the police and that they will get the right justice. 

QR codes are very important in trade since it enables shop owners and businesses to make and accept payments through UPI. In the overall monthly UPI transactions (person-to-person (P2P) and person-to-merchant (P2M) transactions), PhonePe has a 46 per cent share and Paytm has it at 13 per cent.  While PhonePe has 32 million merchant partners pan-India, Paytm has a base of 26.7 million. Due to the pandemic, digital payments saw a surge. The increasing UPI transactions have lead PhonePe, Paytm and BharatPe to be at loggerheads, to garner more merchants for their individual applications for payments.  

A spokesperson from Paytm said, "We want to inform you that the individuals referred here are former Phonepe employees and this matter is between them and their previous employer. We would like to reiterate that Paytm has no role whatsoever in this incident and here is our statement for your reference."

“This matter is between Phonepe and its ex-employees. We condemn the act committed by these rogue employees, who have already been suspended from the company pending a detailed investigation. We do not tolerate any act of misconduct and always stand by the highest standards of work ethics. Paytm has been the pioneer of QR code payments in the country and takes great pride in significantly contributing to the growth of India’s digital ecosystem," the spokesperson added.

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paytm PhonePe police QR codes