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PhonePe first player to enable UPI activation with Aadhaar

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Leading fintech platform PhonePe announced on Wednesday that it is enabled UPIA activation using Aadhaar-based OTP authentication.



PhonePe is the first UPI Third Party Application Provider (TPAP) app to roll out the Aadhaar-based UPI onboarding flow, allowing several crore Indians to seamlessly and securely join the UPI ecosystem for the first time, the company said. . in a statement.

Under the previous UPI entry procedure, a valid debit card was required to set up a user account UPI PIN code during the UPI registration process, restricting access for a large number of Indian bank account holders who did not have a debit card to hand.

The addition of aadhaar onboarding for UPI ends this limitation and enables previously underserved populations to experience the convenience and benefits of digital payments.

“We are excited to be the first fintech platform to offer Aadhaar-based authentication to our users, making UPI onboarding flows even easier and more inclusive. We believe this is a very progressive step by RBINPCI and UIDAI and is a great example of the digital financial inclusion that UIDAI’s Aadhaar program has been able to drive,” said Deep AgrawalHead of Payments at PhonePe.

In the new flow, the Aadhaar e-KYC flow becomes part of the UPI onboarding journey on the PhonePe app.

Users who choose this option only need to enter the last 6 digits of their Aadhaar number to start the onboarding process.

They then receive an OTP from UIDAI and their respective bank to complete the authentication process. Post this, customers can access all UPI features such as payments and balance checks on the PhonePe app.

“This will help to expand the overall UPI ecosystem, as well as onboard new customers for the digital payments. UPI has become a global example and countries around the world want to implement it. Going forward, we will work closely partnered with NPCI to bring UPI internationally,” said Agrawal.

With 41.5 crore registered users, one in four Indians is now on PhonePe. The company has also successfully digitized 3.3 crores of offline merchants, which cover 99 percent of PINs in the country.

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