Wirecard, a global innovation leader for digital financial technology, has partnered with Indian government-owned company UTI Infrastructure Technology and Services Limited (UTIITSL), to facilitate the issuing of physical and digital taxpayer identification cards, also known as PAN (Permanent Account Number) cards.
Wirecard provides affordable financial services and transaction utility through its nation-wide retail agent network and offers tens of thousands of retailers the opportunity to earn extra money by driving financial inclusion in India.
Anil Kapur, Managing Director India at Wirecard, said, “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. 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.”
The initiative comes as an interesting development in Indian digital space, as the country looks forward to revisiting its infrastructure, policies and government operations through technology – courtesy, the Digital India initiative launched by the Narendra Modi government.
With the digitalized PAN card, citizens will be able to carry out most financial transactions, ranging from opening a bank account to transferring money, and also use the card as proof of identity. UTI Infrastructure Technology and Services Limited already has a network of 62 branches across India. Through the collaboration with Wirecard, UTI will serve 350 cities by approximately 15,000 Wirecard agents – who are authorized to collate and forward citizens’ documents for PAN cards.
As one of the two service providers authorized to issue PAN cards in both digital (ePAN) and physical formats, UTI provides technology services to the financial and government sectors of India. With the PAN card, tax authorities and individuals alike can keep track of the tax payments and declarations post fiscal years, using access to a centralized database.