Aadhar based e-KYC may soon be chargeable
New Delhi: The Unique Identification Authority of India (UIDAI) has issued a mandate according to which private companies using Aadhar for e-KYC will have to pay up to Rs 20 for each verification.
Notably, UIDAI is a part of the Information and Broadcasting Ministry which looks after the Aadhar project.
“Aadhaar authentication services shall be charged @ Rs 20 (including taxes) for each e-KYC transaction and Rs 0.50 (including taxes) for each Yes/No authentication transaction from requesting entities,” specifies the notification. It says that the “Government entities and the Department of Posts shall be exempt from Authentication transaction charges.”
As of now, the private companies have to bear this payment, but the customers may also very soon be liable for payment.
Most e-wallets like Paytm, Amazon Pay, Ola Pay, etc have mandated KYC for customers’ accounts to be valid. And e-KYC is not only easier and faster but also cost-effective. With UIDAI’s latest mandate the customer at the end has to bear the brunt. It is interesting to note that the UIDAI directive comes months after the Supreme Court order on Aadhaar, in which the court had struck down the Section 57 of Aadhaar Act and had ruled that no private company could use Aadhaar, not even to carry out eKYC.