Paytm Plan to Start Aadhaar Based e-KYC

STARTUP CORNER: Paytm launches Aadhaar-based KYC process

Mobile wallet operator and e-commerce company Paytm which will soon launch payments bank has started Aadhaar-based electronic know-your-customer process (eKYC) to verify users’ credentials.
paytm
The eKYC verification will help its mobile wallet customers upgrade seamlessly to its upcoming payments bank and carry out transactions exceeding Rs 10,000 a month.

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Aadhaar-based 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.

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