Saturday, December 3, 2022
HomeDigit NewsNow activate UPI with your Aadhaar number through PhonePe, that too within...

Now activate UPI with your Aadhaar number through PhonePe, that too within a few minutes..

PhonePe is the first UPI Third Party Application Provider (TPAP) app to roll out the Aadhaar-based UPI onboarding flow, which will now enable several crore Indians to be a part of the UPI ecosystem. Under the previous UPI onboarding, a valid debit card was mandatory for the user to set the UPI PIN during the UPI registration process, thereby restricting access to a large number of Indian bank holders who did not have a debit card. Linking Aadhaar onboarding to UPI will eliminate this prevention, and allow the already underserved population to experience the convenience and benefits of digital payments.

Under the previous UPI onboarding, a valid debit card was mandatory to set the user’s UPI PIN during the UPI registration process, thereby restricting access to a large number of Indian bank account holders who did not have a debit card. Linking of Aadhaar onboarding for UPI will do away with this restriction. Users opting for this option will only have to enter the last 6 digits of their Aadhaar number to initiate the onboarding process. They will then receive an OTP from UIDAI and their respective bank to complete the certification process. Thereafter, customers will be able to use all UPI features such as payments and balance checks on the PhonePe app.

PhonePe chief Deep Agarwal said

“This will help expand the overall UPI ecosystem, and will also help bring new customers into the digital payments realm. UPI has become a global example, and countries around the world are looking to implement it. Going forward We are working closely with NPCI to take UPI internationally.
With 415 million registered users, one in four Indians is now on PhonePe. The company has also successfully digitized 33 million offline merchants in the country, covering 99 percent of the pin codes.

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