Indian payment apps not accepting Aadhaar for KYC

Wednesday 5 September 2018 13:32 CET | News

Paytm and PhonePe, two Indian payment apps, are not letting users submit their Aadhaar numbers for the mandatory know your customer (KYC) process.

At the beginning of 2018, RBI introduced a regulation that enabled Paytm, PhonePe or Freecharge payment apps users transfer funds or pay only after having their KYC process done. However, now users can choose from documents such as passport, Voter ID or even driving licence, and not their Aadhaar number to do transactions.

This omission was first reported for larger brands like Airtel and Reliance Jio, who were apparently not allowed to use the Unique Identification Authority of India (UIDAI) database to verify their users. Now, similar treatment has been given to digital payment apps.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Paytm, KYC, mobile payments, mobile app, KYC, India, PhonePe
Countries: World