HT Bureau
GUWAHATI, Nov 11: PhonePe announced that it has enabled UPI activation using Aadhaar-based OTP authentication on Friday. PhonePe is the first UPI TPAP App to roll out the Aadhaar-based UPI onboarding flow that will now enable several crore Indians to become a part of the UPI ecosystem, seamlessly and securely for the first time. Under the previous UPI onboarding flow, a valid debit card was mandatory to set up a user’s UPI PIN during the UPI registration process, restricting access for a large number of Indian bank account holders who didn’t have a debit card handy.
Related Posts:
The addition of Aadhaar onboarding for UPI will do away with this restriction, and allow previously under-served populations to experience the convenience and benefits of digital payments.
Speaking on the launch Deep Agrawal, head of Payments at PhonePe said, “We are excited to be the first fintech platform to offer Aadhaar-based authentication for our users, making the UPI onboarding flows even more simple and inclusive. We believe this is a very progressive move by RBI, NPCI, and UIDAI and is a great example of the digital financial inclusion that UIDAI’s Aadhaar program has been able to drive.
This will help expand the overall UPI ecosystem, and also onboard new customers to the digital payments fold. UPI has become a global example, and countries across the world are looking to implement it. Going forward, we are closely working with NPCI to take UPI international.”
