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Aadhaar-For-Udhaar? Amazon, Flipkart Push Out ‘Instant Credit’ Scheme Of Up To Rs 60,000, Using UIDAI-PAN Combo
Flipkart headquarters in Bengaluru. Photo credit: GettyImages
E-Commerce giants Flipkart and Amazon have announced plans to make use of Aadhaar in granting instant credit to customers, ahead of the festive season sale events, reports The Times of India.
To push sales in the festive season and make shopping seamless, the companies are reported to have opted to push out instant credit award based on Aadhaar number albeit debt/credit cards. The move is supposed to get customers not to cancel any purchase due to the lack of cash in debit/credit cards or wallets.
Customers can avail a loan of up to Rs 60,000 from these platforms using the PAN number and Aadhaar number. The credit will be granted based upon the shopping pattern and payment history of the customer using these applications.
However, the decision has sparked controversy as some lawyers allege that the Supreme Court verdict on Aadhaar had barred private firms, especially telecom and e-commerce companies, from using the 12-digit number.
However, TOI quoted Flipkart as saying that the company was committed to being completely compliant of the law of the land and Supreme Court rulings.
It is also reported that, in the light of the recent judgement of the Supreme Court barring the use of Aadhaar number, firms are lobbying to make use of the 16-digit virtual ID.
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