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 15-Dec-17, ET Healthworld 

India's Supreme Court decision to indefinitely push Aadhaar linking of bank accounts and telecom services is a setback for mobile wallet companies such as Paytm and MobiKwik trying to complete mandatory KYC (know your customer) verification of their customer base.

Indias Supreme Court puts a hole in mobile wallet plans (c) ET Healthworld

Image: ET Healthworld

Prepaid payment issuers (PPIs) were relying heavily on the Aadhaar interface to accomplish KYC. But consumers may now hesitate to share biometric details with these companies.

This is a double whammy for payment firms that are already running against time to retain their existing user base.

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 Financial Services insights 

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