Aadhaar e-KYC OTP: Seamlessly Accelerate Paperless User Onboarding Process

If you’re a merchant, you must already understand the importance of e KYC during onboarding. After all, it helps mitigate external risks and safeguard business financials and transactions. As a Payment services provider, we understand the importance of the Aadhaar e KYC OTP verification process. Hence, we always work towards streamlining KYC processes to make it as merchant-friendly as possible. 

With Cashfree Payments’ OTP-based Aadhaar Verification, you can now perform offline KYC and validate the registered mobile number alongside the 12-digit Aadhaar number. In other terms, you can enable and perform Aadhaar e-KYC OTP in a matter of minutes!

Verify your users during onboarding with offline Aadhar paperless e kyc to validate the user’s authenticity. Reduce any chance of identity mismatch, fraud or money laundering activities. 

What is Aadhar Paperless Offline e-KYC or Aadhaar OKYC?

OKYC is an abbreviation of for offline Aadhaar KYC. Another term for the same is aadhaar paperless offline e kyc which is a process to verify the Aadhaar number and to authenticate identity and address information about any individual in seconds. 

With Cashfree Payments’ robust OKYC APIs, you can validate the customer’s Aadhaar details using OTP delivered to the UIDAI-registered mobile number. This will help you verify details like registered name, gender, address, state, image, father’s name, date of birth, contact number, and email address.

Aadhaar OTP Verification APIs can be used for various purposes such as onboarding users, opening bank accounts, disbursement of loans, allocating SIM cards, obtaining permanent account numbers, filing income taxes or creating a trading account. 

What Do Businesses Need Aadhaar Paperless Offline e-KYC?

UIDAI allows businesses to verify the identity of Aadhaar holders. However, not all agencies can use this online e-KYC approach because:

• Reliable internet connectivity is needed for on-line e-KYC.
• It requires dedicated technical infrastructure
• The cost associated with paper-based Aadhar e-KYC verification may not be suitable to all players.

Now, Aadhar Paperless Offline e-KYC does away with all of these hurdles. Moreover it helps maintain the user’s privacy and security as:

• Resident’s Aadhaar number or biomteric data is not shared. Instead the reference ID is shared. In fact, Aadhar holder can choose to share only a part of their demographic information and photo.
• Aadhar holder can download KYC data (which in itself is encrypted) to ensure no data tampering is at play. Agency can validate the data through their own OTP/Face Authentication.

Industries That Will Benefit From Aadhaar Paperless Offline e-KYC

Let’s have a quick look at the industries that can benefit enormously from Aadhaar e kyc otp verification.

Banking:

Opening new accounts is an integral part of banks’ overall function. Onboard new users with ease, verify the individual identity by verifying the details like Name, Mobile number, date of birth, father’s name, user image and address with Aadhaar OTP Verification APIs. 

Lending:

Verify and authenticate users during onboarding KYC or before disbursing the loans.  Get exact results for name, and father’s name, match the individual’s face with the UIDAI registered image and verify the address, date of birth, and contact number.   

Trading and Investments:

Faster user registration with IRDAI-compliant OKYC APIs. Get the complete authentication report of the users before they start trading or investing on the platform with OKYC. Do instant disbursement of loans with Payouts.

Payments and Neo Banks:

Aadhaar Paperless Offline e-KYC lets you authenticate the user during registration itself. It helps detects fraud, and mitigate risks of financial crimes. With OKYC, reduce chances of onboarding drop-off with the fastest turnaround time.

Insurance:

Aadhaar OTP Verification APIs can be used for onboarding KYC. Eliminate lengthy paper works by processing KYC Verification online. Verify the age, address, user image and contact number before allocating any insurance policy.

Logistics:

Onboard business and employees with ease, Verify the business existence and the authenticity of the individuals all under a single dashboard. 

Ecommerce:

Establish the vendor‘s identity before onboarding to your platform with Aadhaar OTP Verification, PAN Verification, GSTIN Verification and Bank Account Verification.
 

Staffing and recruitment agencies:

Identify users/employees during the onboarding process to avoid any kind of fraud and identity theft. Ensure that you are onboarding the intended employee and safeguard companies finances with OKYC APIs.  

How To Verify Aadhaar With Offline Aadhaar Verification Flow?

Primarily, You can verify the user’s Aadhaar details in two ways: Manually or by integrating APIs. 

The former goes along the same lines:

OTP-based Aadhaar Verification can be done via APIs too. Just integrate the offline Aadhaar APIs into your existing systems and conduct the verification process efficiently.

Note: You can also choose to verify a user’s Aadhar through OCR technology with Cashfree Payments as well. Herein, verification can be done by scanning the images of the Aadhar card and tallying the information with government records. Find out more details here!

Sounds interesting?

Try Offline Aadhaar Verification (OKYC) now and reduce your onboarding turnaround time during onboarding by 80%. 

Get in touch with our payments experts for more information.