Why CoinSwitch Kuber is not accepting UPI payments? Check out issues with the app

CoinSwitch Kuber was founded in the year 2017 and is a global aggregator and uses an app to support retail investors invest in cryptocurrencies. The cryptocurrency investment in India has seen a boom and many apps rose to provide hassle-free trading. However, many users have reported recently that they are unable to deposit money in CoinSwitch Kuber through UPI payment method. Here are some important things you need to know about it.

CoinSwitch Kuber UPI not working

CoinSwitch Kuber has over 4.5 million users on its platform and over 120 employees. The app has enabled users with a clean UI and UX design in comparison to several other apps in the market. However, it was observed recently, that the app is not accepting payments via UPI.

On April 21, 2021, the organisation had shared a post on all its official social media handles that they shall be disabling INR deposit in CoinSwitch Kuber App. On its Twitter handle, CoinSwitch Kuber stated that due to certain unavoidable issues at their banking partner’s side, the company has currently disabled all INR deposits.

The tweet further read that the company regrets the inconvenience caused because of the same. They also reassured their customers that their team is looking at fixing the issue on priority. Since CoinSwitch Kuber is not accepting INR deposits, naturally, the company had to disable UPI transactions for the app as well. Check out the tweet about the same below.

Why Coinswitch Kuber is not accepting UPI?

On April 26th, 2021, CoinSwitch Kuber announced that they are still not accepting Indian currencies and deposits. Which further implies that the organization has disabled the option of payments through UPI. The company wrote in a recent tweet, “We regret to inform you that the INR deposits on CoinSwitch Kuber app are still disabled. We are extremely sorry for this experience. As of now we, unfortunately, don't have an ETA for this. We request your patience & your support as we try to resolve this at the earliest.” Check out the tweet of the same below.

Coinswitch Kuber issues 

Another recent tweet from the company reveals that they have closed a Series B round of funding with TigerGlobalManagement. The Tweet also revealed that the funding has made them the largest crypto exchange platform in India. Check out the tweet of the same below.

Image credits: CoinSwitch Kuber Twitter