UPI of HDFC Bank Will Not Work (Server Failed While Transactions)

UPI of HDFC Bank Will Not Work (Server Failed While Transactions)

Server & IT infrastructure failed in UPI of HDFC Bank. Customers are not able to transfer their own money in the from of payment.

IT system failure is key reason. As per the statement of the HDFC spokes person, “Current customers request is 300% higher demand as per our server capacity. We are working with information technology team. We will resolve soon but till the time UPI of HDFC Bank services will not work.”

RBI Stand on IT server failure

Reserve bank of India has taken the advance pre-action to secure the amount of users and stopped new credit card issue process for next 3-6 month duration.

Digital Transactions & New Credit Card Ban on HDFC Bank

Every month HDFC bank is adding 1.7 lakh credit card new customers. That’s why, loan ration and HDFC online banking ratio is 10 Million users every month as transactions. But as per the technology and server team, current handling abilities of HDFC is only to handle, 30% of customers.

So, to full fill the IT servers and security team, required more IT system investment. Even the site is running many protocol to reduce the handle time and features to create more easy to load online.

But now, heavy traffic and UPI transaction lag is high. In this case, system is crashing around everyday. This is creating bad user experience & creating poor brand image of the bank.

Effect and History of Online UPI of HDFC Bank

As per the server history of HDFC online banking is not very good in previous too. Even ICICI bank had invested 80% higher budget as compare to HDFC in 2017.

That’s why, 17% additional transaction are happening in ICICI with 13% year on year growth record.

At the same time, HDFC online website is not so attractive and interactive both. Basic features are complex and old age model functionality.

The load time is high and OTP is mostly not working or working after the duration limits end. These issues are causing huge customer drop down.

As per the data, 13 lakh customers are switching to ICICI bank due to online experience. A survey between HDFC and ICICI customers told that 89% of customers are preferring to go with ICICI online banking solution.

Because online solution, artificial intelligence of ICICI is much better than any other banking platform.

How the revenue effect

As per the RBI guidelines, bank is not able to issue any new digital initiatives. They must have to fix their current issues first.

As per the spokes person, this will take around 6 months of time period by IT team. Server issue are frequent, So, 300% investment is required currently.

RBI issued a notice, regarding the UPI transaction failed claims of the customers. Users are angry and not ready to go with HDFC but bank had issued SMS and email during this challenge.

They had insured that within month or 3 months, they will fix all the issues and users will get best experience into online banking with HDFC.

Flexipay and other services will not work, until the current information technology services bug will resolve.

We will update you on any further updates!!