Update Your KYC on Kite!

Submit in a minute before December 31st to continue using Kite

The Reserve Bank of India (RBI) passed new guidelines on October 11, 2017, relating to prepaid wallets such as Kite. In an effort to increase security and reduce fraud through online payment platforms, the RBI has declared that all prepaid wallet users must provide minimum Know Your Customer (KYC) details by December 31, 2017. Core features of Kite do not work without KYC details.

What is minimum KYC?

Minimum KYC involves providing your name, an OTP-verified phone number and the ID number of your Aadhaar card. Through minimum KYC, users are able to hold a balance and spend a maximum of INR 10,000 per month. You cannot transfer the money in this account to other wallets or to your bank account. You can submit minimum KYC details on the latest Android app update, which can be found here.

What is full KYC?

For full access to Kite Cash, users must complete the full KYC process. This includes an INR 50,000 account limit as well as wallet and bank transfer capabilities. Users must provide either biometric information linked to their Aadhaar card, or the digital verification of other ID documents. Full KYC can only happen if the original documents are seen and verified by a KYC agent. More details about the full KYC process will be announced on this space, through the app and on social media channels.

Interested in the latest updates on product, culture and more on Kite Spotlight? Click ‘follow’ below!