The cost of KYC for each customer can be as high as Rs 250, since an agent has to physically reach out to the customer.

Payments company wants to retain these wallets even after Aug 31 when RBI’s new norm kicks in.

With the RBI saying on Monday that the extension could be used for putting in place alternative systems of completing the KYC process, the ...

Wallets saw exponential growth in the immediate post demonetisation period, but the growth has slowed over time, with de-growth in the last...

RBI KYC: Over 95% of mobile wallet firms in country could stop being operational by March.

While a full-KYC requires physical verification or a biometric check, minimum-KYC can be done via a mobile handset using a one-time passwor...

This development comes even as there have been indications in the digital payments industry of a sharp fall in mobile-wallet users as custo...

Amazon India, which routes a large chunk of refunds and incentivises e-commerce transactions through its Amazon Pay wallet has seen a sharp...

Paytm was circumventing the revised wallet norms by issuing gift vouchers instead of cash top-ups for non-KYC wallets.

Industry executives estimate that at least 8 out of every 10 customers using mobile wallets in the country have not completed KYC requireme...

The RBI said clearly that every payment instrument will have to abide by the KYC norms as they are also part of the extended banking ecosys...

Though PPI issuers and wallet cos are pushing users to link their Aadhaar numbers, cos feel that it’s a Herculean task to complete it within

According to GlobalData, total mobile wallet transactions in India may show a growth of 113%

"This will further strengthen the value proposition of mobile wallets and make them stronger players in the financial ecosystem," Satti sai...

The payments company has set an ambitious target of reaching 500 million full-KYC customers in three years.

Full KYC even for small-ticket transactions will be a big deterrent to use of these m-wallets, as it will increase customer acquisition cos...

The Reserve Bank will raise the spending limit on e-wallets, which are fast becoming the preferred mode of payment for utility bills and on...