MobiKwik, the largest independent mobile payments company in India has launched eKYC for its users. eKYC is RBI approved, paperless process for fulfilling KYC requirements that will allow MobiKwik users to upgrade their wallet with Aadhar card in real time.
Once a user requests eKYC on the app, a company representative will reach the user's location within 30 minutes and do real time wallet upgrade.
"This launch further simplifies the wallet experience for our users and they can now avail benefits of a KYC account within half an hour," said Chief Operating Officer MobiKwik, Mrinal Sinha.
UIDAI's e-KYC service enables KYC process to be performed electronically with explicit authorization by resident.
As part of the e-KYC process, the resident authorizes UIDAI (through Aadhaar authentication using biometric/iris) to provide their demographic data along with their photograph (digitally signed and encrypted) to service providers.
"eKYC revolutionizes mobile wallet upgrades as its paperless, consent based and the safest way to upgrade. We are confident that most of our users will find this service exceptionally useful," Mrinal added.