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Merchant Onboarding and Tighter KYC Norms: This Startup Has a Solution

As a part of their digital payment initiative, the Government of India has set a target for the installation of 5.5 million point-of-sale (POS) machines by September 2017.

AP Hota, MD and CEO of NPCI recently said, Now it is 2.5 (million), you can say. Another three million has to come. One million traditional PoS, one million QR code (-enabled PoS) and one million Aadhaar (-enabled PoS). He added that the government also plans to assign bank-wise targets in order to meet the September deadline.

However, there is a problem.

A typical merchant onboarding process takes a couple of weeks from the point of acquir ...

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