Paytm Launches Aadhaar-based KYC System For Its payment Bank

The mobile payment and e-commerce platform has started Aadhaar-based eKYC (E-Know Your Customer) to verify users’ credentials.

The eKYC verification will help Paytm’s mobile wallet customers upgrade to its upcoming payments bank and carry out transactions exceeding Rs 10,000 a month. The company plans to launch its payment bank services before November.

The eKYC process allows for verification of a customer’s identity through fingerprints and iris scans which are then authenticated with biometrics recorded in Aadhaar database.

Add comment

NextBigWhat brings you curated insights and wisdom on product and growth from the wild web.

Over 2 million people receive our weekly curated insights.