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#NAMA – Nandan Nilekani Launches Aadhaar E-KYC Based Instant Prepaid Cards

At MediaNama's #NAMA conference, Nandan Nilekani, Chairman of UIDAI, announced the launch of Aadhar E-KYC powered instant prepaid accounts, for which a pilot will be launched in Delhi, next week.Speaking about the possible applications of these instant accounts, Nilekani said that e-commerce merchants would be able to issue a co-branded bank issued prepaid card with their own branding, and the card can be activated at the time of the check-out using an OTP based authentication, and that an Aadhaar linked prepaid card could be shipped to the customer with the delivery. The customer can top-up the card through a business correspondent or online. The same can be done at physical retailers - Citizens will be able to activate instant accounts with E-KYC, save money into the account, withdraw money, and send money to anyone with an Aadhaar number. Aadhaar Authentication…

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