Wirecard, the global digital financial technology company, announced on Wednesday (May 22) that it has partnered with India’s government-owned UTI Infrastructure Technology and Services Limited (UTIITSL) to facilitate the issuing of physical and digital taxpayer identification cards.
In a press release, Wirecard said retail agents in India will collect the data needed for the cards – also known as PAN (permanent account number) cards – digitize that data and forward it to UTIITSL, which will then issue the cards and send them directly to customers.
“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,” said Anil Kapur, Wirecard’s managing director in India. “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.”
According to Wirecard, every citizen in India requires a PAN card to carry out the lion’s share of financial transactions, including opening bank accounts and transferring money. The cards can also be used as proof of identity. And because all data is stored in a centralized database, consumers can also use the cards to track tax payments and declarations. The cards are seen as an effective measure against tax fraud in the country, Wirecard noted.
UTI Infrastructure Technology and Services has a network of 62 branches across India. Through the partnership with Wirecard, 350 cities will be served by around 15,000 Wirecard agents. The agents are authorized to collate and forward citizens’ documents for the creation of the PAN cards.
Wirecard noted that UTIITS is one of two service providers in India authorized to issue PAN card in digital and physical forms. The company provides technology services to the financial and government sectors of India.