First Business News Portal in English from Nepal
KATHMANDU: Esewa, a leading digital payment service provider in Nepal, left millions of users in dismay as its services encountered a severe disruption since Sunday morning. The disruption, described by company officials as a potential system hack by international actors aiming to compromise the payment system algorithm, has rendered all Esewa services inaccessible.
Despite ongoing efforts to recover the system and address technical glitches, the challenges persist, leading to a ripple effect on banking payments, financial institutions, and wallet users.
The outage has had a profound impact on thousands of individuals who heavily rely on Esewa’s services. Users attempting to access their digital wallets, conduct financial transactions, and utilize other services faced insurmountable difficulties during the outage.
This recurring disruption has not only perplexed service recipients but has also raised serious concerns about the platform’s reliability. Anxiety looms among users whenever such technical issues arise, prompting questions about the robustness of Esewa’s security measures.
Esewa, which has gained immense popularity as a convenient means for money transfers between banks, now faces heightened scrutiny regarding the security and stability of its platform.
The current technical challenges have added to existing worries, and users are increasingly questioning the company’s ability to provide consistent and reliable service. Regulatory authorities are closely monitoring the situation, emphasizing the need for improved oversight to prevent such disruptions in the future.
This recent incident comes on the heels of a similar disruption faced by Fonepay just a few days ago, further highlighting vulnerabilities in the digital payment landscape in Nepal.
Users are growing more cautious, emphasizing the importance of robust cybersecurity measures and the need for service providers to fortify their platforms against potential threats.
In response to the situation, Esewa has urged its users to remain patient as the company works tirelessly to resolve the disruption and enhance its cybersecurity measures.
The incident serves as a wake-up call for digital payment service providers to invest in robust security infrastructure and proactive measures to safeguard user trust and ensure uninterrupted service delivery.
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