The UIDAI slashed the Aadhaar authentication charges. Now, customers may only pay Rs 3 instead of Rs 20 per instance to enable entities leverage. Saurabh Garg (UIDAI CEO) said that the potential of leveraging Aadhaar in the financial technology sector is immense.
As per a news agency PTI quoted that Garg said, “We have slashed the rate from Rs 20 per authentication to Rs 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.”
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As of now, over 99 crore e-KYC have been done using the Aadhaar system. At the beginning of this month, the Unique Identification Authority of India (UIDAI) announced certain changes under which Aadhaar cardholders who haven’t registered their mobile number can download their Aadhaar cards from its website.
Garg added to his statement that I strongly believe it gives a non-repudiable and cost-effective solution to fintech companies to onboard new customers. Earlier, the Department of Telecommunication issued a series of orders in order to bring into use the “contactless, customer-centric and secured KYC processes.
