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Identity Suite by Cashfree Payments
We launched the Identity 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 Identity Suite by Cashfree Payments
Introducing PAN Verification
Now validate user’s PAN number instantly with complete Identity 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):
- PAN number
- Name provided
- Verification ID
- PAN type
- 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.
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
- Marketplaces (for onboarding vendors)
- Large corporations (for onboarding employees)
More about Identity 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.
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.
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.
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 Identity 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.