Paytm outage, internet shutdown give India a reality check on its cashless dreams

In the aftermath of India invalidating much of its cash, many have resorted to mobile wallets to pay for their daily chores. But this week, Indians got a glimpse of how an Internet-reliant economy can fail them sometimes. 

Users of Paytm, India’s most popular mobile wallet app, couldn’t pay for their food or cab Tuesday evening after the service suffered an outage. 

The service, which has over 170 million registered users, couldn’t handle the sudden surge in transactions, a spokesperson told Mashable India. Paytm observed three times increase in the traffic on its platform, the company said.  Read more...