The result of this is of course not just some links not working from time to time, but also a lot of people facing difficulties with online payments. The spike in numbers for online payments was inevitable following the demonetisation announcement – people have no choice if they want to do anything at all – but this means that the failure rate of transactions has also inevitably gone up.
On Monday, MobiKwik CEO Bipin Preet Singh pointed out that multiparty authentication systems such as Visa and MasterCard are more challenging to scale with additional points of failure, and gave the example of how at retail, cards from all major banks apart from Amex were not being accepted at PoS machines. On Twitter, Paytm founder Vijay Shekhar Sharma also said that with traffic running at 19.5 times for the company’s wallet system, hardware and system scaling was required across the board.
