New eKYC charges a double whammy for companies using eSign

BENGALURU: The revised pricing suggested by the Unique Identification Authority of India for eKYC transactions is bound to sharply increase operational costs for companies using the architecture for electronic signatures (eSign) of documents.

According to industry executives in the business of authenticating documents, it could cause problems for early-stage tech companies who use eSign for financial documentation or for human resource onboarding.

While eKYC will be charged at Rs20 per transaction as per the latest gazette notification, for electronic signatures, which use the eKYC framework, charges could become as high as Rs25 per transaction, post the move. Previously, eSign by itself was charged at Rs5 per transaction.