e-wallet | Pixr8 News

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 Aadhaar 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 auth...

The Unified Payments Interface (UPI), which comes into effect Monday, is a single interface across all National Payments Corporation of India (NPCI) systems, allowing customers to instantaneously transfer funds across different banks with the use of a single identification and password. Multiple bank accounts can be linked to a single mobile banking application and money can be both received and requested through the same interface. This could weaken the case for consumers having to store money in multiple electronic wallets to pay for services such as cab rides, movie tickets or utility bills. Mobile banking has surged in India in recent months as banks have pushed both retail and corporate customers to adopt platforms designed to transact on the phone. In the September-December qua...

Tag: e-wallet

MobiKwik Launches Aadhaar ‘eKYC’, To Update e-Wallets in Real Time

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