Paytm launches Aadhaar-based system for KYC
Digital payments and e-commerce platform Paytm on Monday launched an Aadhaar-based eKYC (E-Know Your Customer) service. KYC is a customer identification procedure followed by banks and wallet companies. KYC-enabled Paytm customers are allowed a wallet balance limit of up to ₹1 lakh, as opposed to ₹10k for non-KYC ones. Paytm is set to launch its payments bank before November.