[What’s New?] PAN Verification is now available on Verification Suite by Cashfree Payments

Verification Suite by Cashfree Payments

We launched the Verification Suite, starting with Bank Account Verification in 2019, and since then businesses like Zomato, Signzy, Rapido, BookMyForex have been using it for various purposes, 

  • Zomato is ensuring quick and correct onboarding of delivery partners using Cashfree Payments’ API
  • Signzy trusts Cashfree Payments for reliable and real-time verification of bank account numbers as a part of its KYC suite
  • Bookmyforex uses Cashfree Payments for instant bank verification of money exchangers.

We are now live with PAN verification as part of the Verification Suite by Cashfree Payments

Introducing PAN Verification

Now validate user’s PAN number instantly with complete Verification Suite by Cashfree Payments. Using PAN Verification, merchants can now verify their user’s PAN details manually or via API.

The system will return whether the PAN is valid or not along with the following details (if valid):

  1. PAN number 
  2. Name provided 
  3. Verification ID 
  4. PAN type
  5. Name registered

This feature allows merchants to do a single verification or a bulk verification of upto 10,000 PANs via API. It will help merchants to verify the users’ PAN card details to process their KYC, loans & insurance in near real-time. To know about how PAN verification can help your business, read more here.

Activate PAN Verification along with Cashfree Payments complete Identity suite and ensure faster onboarding and legit transaction every time

Why is PAN verification needed?

PAN verification is used to check the authenticity and validity of a PAN Card and also check if the card is owned by a business or an individual. Merchants and businesses can use it for various purposes, such as:

  • Onboarding vendors
  • Onboarding employees
  • Transferring funds or process payments
  • Required for KYC

The various industries/ businesses that can benefit from the Online PAN verification facility are:

  • Financial Institutions like Banks etc.
  • Credit card companies/Institutions
  • Insurance providers
  • Payments and Fintech companies
  • Investment portals
  • Wallets
  • Marketplaces (for onboarding vendors)
  • Large corporations (for onboarding employees)

More about Verification Suite by Cashfree Payments

Cashfree provides bank account and IFSC verification support for accounts with more than 600 banks. 

Bank Account Verification:

Verify bank account details before onboarding and validate accounts before making payouts with Cashfree Payments. Minimize failed bank transfers by matching the name provided by the beneficiary with the name at the bank before making a payout.

UPI verification

Cashfree Payments provides instant means to verify if the given UPI ID is valid and shows the account holder’s name. Verify any number of UPI ids of individuals or entities with Cashfree Payments.

IFSC verification

Check against the most exhaustive list of IFSC codes updated weekly. Check the validity of the IFSC code and know the bank name and branch it belongs to.

PAN Verification

Cashfree Payments allows merchants to do a single verification or a bulk verification of upto 10,000 PANs via API. View details like PAN type, name of the PAN holder, verification status, and more, of all PAN numbers verified for the given range. 

Activate the complete Verification suite by Cashfree Payments and use it with Payouts to ensure accurate payouts every time.

If you’re interested in activating PAN Verification, please sign up and get started right away.