Aadhaar Glitches: E-KYC Numbers Shoot Down, Service Providers Mark Dissent
The glitches in the Aadhaar system adversely impacted private fintech players who have marked dissent against the functioning of the UIDAI system.
New Delhi, April 4: At a time when digital service providers are rushing to their customers seeking the completion of e-KYC norms, the UIDAI has reportedly recorded a lull in the Aadhaar authentication over the past week.
The glitches in the Aadhaar system adversely impacted private fintech players who have marked dissent against the functioning of the UIDAI system.
Mobile payment wallets such as CitrusPay claim the authentication of services have stopped over the past couple of days, causing massive inconvenience to the service-users.
“Aadhaar stopped all KUA and sub-KUA to do validations!! Suddenly, all fintech businesses banking on Aadhar left scrambling!! India stack story will crumble very soon if it continues in this manner,” the e-wallet founder Jitendra Gupta tweeted.
His claim reportedly matched with the data available on the UIDAI website which said e-KYCs came down from 1.28 crore transactions a day on average to 515 on March 24. The numbers further dropped to 2 on March 23, followed by 3 on April 1.
Similarly, the Aadhaar authentication when down from 3.75 crore per day on an average to merely 15,000 on March 30.
The UIDAI was yet to issue an official response. According to Naveen Surya, Chairman, Payments Council of India, the Aadhaar mechanism has not been glitch-free over the past couple of months, with the menace exacerbating in the last few days. He said the government should take steps towards creating a glitch-free mechanism in order to facilitate smooth functioning for fintech companies.
(The above story first appeared on LatestLY on Apr 04, 2018 11:48 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).