Unique Identification Authority of India (UIDAI), which issues Aadhaar card in the country, has slashed the price for authentication by customers. The charges has been slashed to ₹3 from ₹20 per instance to enable entities leverage its infrastructure for providing ease of living to people through various services and benefits.
UIDAI CEO Saurabh Garg said that the potential of leveraging Aadhaar in the financial technology sector is immense. “We have slashed the rate from ₹20 per authentication to ₹3 and the objective has been to ensure that different agencies, entities should be able to use the power of digital infrastructure which has been created by the state that needs to be used to provide people with ease of living with dignity,” Garg said.Read more ↓
Till date, more than 99 crore e-KYC have been done using Aadhaar system.
“I think it gives a cost effective and non-repudiable solution to fintech companies to onboard new customers,” Garg added.
Last week, the department of telecommunications (DoT) issued a series of orders to implement “contactless, customer-centric and secured KYC processes”. The reforms have been brought in to digitise KYC processes and make subscriber acquisition completely online, the DoT said.
“Online service delivery has become an acceptable norm in the recent past and most of the customer services are being offered through internet with OTP authentication. Contactless services in the Covid era needs to be promoted for subscriber convenience and also for ease of doing business,” the telecom department said in a statement.
Earlier this month, UIDAI announced some changes under which cardholders who have not registered their mobile number can download their Aadhaar cards from the entity’s website…Read more>>