Digital financial technology service providers Wirecard has initiated a partnership with India’s government-owned UTI Infrastructure Technology and Services Limited (UTIITSL).
The new-found connection will enable Wirecard to assist the issuing of physical and digital taxpayer identification cards – known as PAN cards.
To do so, Wirecard said its retail agents in India will collect documents necessary for PAN cards, digitise and forward them to UTIITSL who will proceed to issue the cards to the customer.
Anil Kapur, MD India, Wirecard commented: “As the partner of choice for one of India’s leading government-owned financial service providers, we are delighted to be part of the project to bring PAN cards to more people.”
PAN cards are mandatory for each citizen in India. The card is required to carry out most financial transactions, from opening a bank account to transferring money, whilst also serving as proof of identity.
The cards has all information stored in a centralised database and all financial transactions can be identified – providing tax entities and individuals the ability to keep track of tax payments and declarations.
UTIITSL has a network of 62 branches across India and Wirecard said nearly 350 cities will be served by its agents to collate and forward citizens’ documents for PAN cards.
Kapur concluded: “Through this cooperation, we have proven Wirecard’s power in global technology services and our ability to create solutions for a wide range of consumers and industries to create a better tomorrow for all.”