Nandan Nilekani, the Infosys co-founder who is credited for making the revolutionary and visionary UID Aadhaar system, has lauded Paytm and Reliance Jio for “committing” to the platform. “Happy coincidence that two large challengers – Jio and Paytm – have totally committed to #Aadhaar and #IndiaStack!,” Nandan Nilekani tweeted.
Paytm is introducing an Aadhaar-based eKYC (know your customer) platform, and expects the service to further bolster its payment bank and mobile wallet businesses. The eKYC process is paperless and can be carried out either at a Paytm centre or at the customer’s home. Upon arrival, the Paytm agent carries out a quick verification process using a mobile-based biometric scanner and captures the customer’s consent through an Aadhaar-based design. Paytm has said that the service will also allow access to benefits like subsidies and DBT, besides eradicating the existing framework of manual documentation.
As pointed out by Nilekani, Paytm is not the only big brand to adopt the Aadhaar platform. Recently, Mukesh Ambani had announced at the Reliance Industries’ AGM that consumers can sign up for the new Reliance Jio service a 100% digital Aadhaar-based eKYC process. “Over the next 4 to 6 weeks we will have this process in all our stores across India. Any Jio customer carrying an Aadhaar card will be able to walk out of a Jio store with a working connection within 15 minutes. We are also planning to extend eKYC activation to our customers’ doorsteps,” Ambani had said.
The adoption of the Aadhaar based platform assumes significance at a time when e-verification is gaining traction, and brands are increasingly looking to ease the cumbersome process of identity verification and the documentation involved with it.