With Aadhaar-data unavailable to fintechs, banks, insurers, telcos and other private enterprises after the recent Supreme Court ruling, the UIDAI has hinted that Aadhaar QR Code and offline Aadhaar KYC may be considered.A circular from the UIDAI is supposed to have encouraged banks to develop web and mobile applications that can leverage QR codes printed on Aadhaar copies for the purpose of doing KYC.
Our Chief Business Officer Wriju Ray highlights on-ground realities due to which Aadhaar QR Code-based Authentication will not work.
‘Is it back to the dark ages of paper KYCs?’
“All eKYC authentication is stopped now, we are trying to develop our own means of getting KYC done with physical documents by using technology so that cost can be reduced,” said a top executive of a payment company on condition of anonymity in an article in the Economic Times
Fortunately, technology solutions for efficient and accurate Digital KYCs are available.