(8.Juli 2015) Two small tech-driven micro-payments firms have managed to overcome a major technology challenge: issuance of e-KYC (know your customer) in the banking space, which has the potential to give a big fillip to Prime Minister Narendra Modi‘s Digital India initiative.

Suvidhaa, along with Axis Bank, one of the private banking majors, has started issuing KYC for its prepaid customers using on-site Aadhaar-based biometric verification that does not require submission of any physical document and could be completed within minutes.