Paytm Payments Bank Introduces Video KYC Facility

Paytm Payments Bank Ltd (PPBL), which is India’s largest and most successful payments bank has today announced the launch of its Video KYC facility. With this, customers can now get their full KYC completed anytime between 9 am and 8 pm, from anywhere through a video call. The convenience of video call for full KYC will help customers stay safe within their homes during the ongoing pandemic.

The Video KYC facility is the latest among the series of new features that the bank has been launching to make the banking experience more convenient and accessible for its customers. During the lockdown, it introduced ‘Cash at Home’ facility for senior and disabled citizens, which enabled them to raise cash withdrawal requests on their Paytm Payments Bank app and receive the requested amount at home. Earlier this year, the bank has also launched a Direct Benefits Transfer (DBT) facility where it allowed customers to raise a request to receive the benefits of over 400 government subsidies directly into their PPBL Savings Account.

The process for getting Video KYC completed is simple & seamless. Customers who have not yet completed their full KYC can open their Paytm app and click on the Video KYC tab to begin the verification process. An executive will be assigned, who will guide the customer to complete this process. All that is needed for verification is the customer’s PAN card and Aadhaar card. The entire process is completed in 2 minutes. Currently, the facility is being offered to a select user base and soon it will be available for all customers.

Satish Kumar Gupta, CEO & Managing Director, Paytm Payments Bank Ltd said, “We have continued with our efforts to bring financial inclusion in our country through innovative use of technology. We are already receiving a lot of interest & inquiries from our users, and are in a process of developing a back-end infrastructure that will enable us to complete up to 15,000 Video KYC requests every day.”

PPBL continues to lead digital banking in India and is a comprehensive platform for all kinds of funding sources. Besides 100 million UPI handles, there are 300 million wallets, 220 million saved cards, and 58 million bank accounts on the platform.