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eWallets Get Two More Months to Complete KYC
January 03, 2018
In what’s a huge relief to the digital wallet companies, the Reserve Bank of India has offered them an additional two months to complete the Know Your Customer (KYC) compliance requirements for their customers. Thus, the new deadline has been shifted from December 2017 to February 2018.
According to a report published by a top news agency, the putting off of the deadline has to do with a large number of eWallet users in India. To put it into perspective, leading mobile wallet company Paytm alone has above 1 crore users on the Android platform.
