Mobikwik makes Aadhaar mandatory for unrestricted access to their wallet


Upgrade Your MobiKwik Wallet - MobiKwik

Dear Friend,

As per the new RBI guidelines, all MobiKwik users will need to provide & verify the below details by February 28, 2018, in order to prevent restricted usage of MobiKwik.

The details needed are:

Your Full Name
Your Aadhaar Number (Currently, MobiKwik is accepting only Aadhaar number for KYC purposes. We will update you once we start accepting other valid government documents)
While using the MobiKwik product, you will come across screens asking you to fill the above details. If not done so, a few specific features like wallet to wallet transfer, wallet to bank transfer and add money to wallet will be blocked. And also your monthly wallet limit will be reduced to Rs. 10,000.

Share your queries with us if you have any questions.

Thank you,

Team MobiKwik


Amazing Member
now i am too lazy to read that document. but it does not list aadhaar anywhere.
11. Conversion of existing PPIs issued by banks and non-banks

PPI issuers shall give an option to all PPI holders to convert the existing semi-closed and open system PPIs issued to them (as per various types / categories permitted earlier) into any type of the PPIs as indicated in paragraph 9. After carrying out the applicable due diligence for that type of PPI, this conversion shall be completed on or before February 28, 2018. For example, if any of the existing PPI is converted into KYC compliant semi-closed PPI, then the same has to be done only after doing the KYC of the PPI holder (as indicated in paragraph 6).

Where PPI holders have not exercised the option as at (a) above, the PPIs issued to them shall mandatorily be converted into minimum detail PPIs as indicated in paragraph 9.1 (i) on March 01, 2018 with all the applicable features.

No further credit / loading shall be allowed in such PPIs till all the minimum details (as indicated in paragraph 9.1 (i)) are obtained. However, the PPI holders shall be allowed to use the existing balance for purchase of goods and services.

PPI issuers shall make their customers aware of these changes and shall also give all such existing PPI holders a one-time option to transfer the outstanding balance in the PPI to a bank account without any transaction limit. No charges shall be levied by the PPI issuers on the PPI holders for such funds transfer. This shall be completed on or before February 28, 2018.

For existing minimum detail semi-closed PPIs, where the outstanding balance is more than Rs. 10,000/- further loading shall not be allowed till the balance is reduced to below Rs. 10,000/-, after which the limits as indicated in paragraph 9.1(i) shall be applicable. The funds transfer facility shall not be permitted from the date of issue of these Directions except for one-time option for outstanding balance as per the details at 11 (d).

PPI issuers shall separately maintain the data relating to migration of existing PPIs for submission of the same to RBI, as and when required.
They have feb 28th as late date for converting wallet customers into bank customers thru kyc. kyc included other things like PAN but its mobikwik as usual being dicks and demanding aadhaar. because hey, if every tom dick and harry can demand aadhaar, why not me?


Paytm now pushes for you to go to one of their partner stores listed in their app.
so you are giving away your ids to shopkeepers instead of unknown company representatives.