What is the Advantage of Video KYC in B2B Industry?

We are living in a world of technology. Everything is going too advanced with new technologies. If you are in the market, you have to be advanced and updated to survive. But the truth is everything has an advantage as well as scarcity. If we talk about payment, Indian government is emphasizing on cashless transactions. To create a cashless society in India, the government started AEPS services in 2012 under the digital India project.

AEPS service is most trending today for cash withdrawal, especially in rural areas. If you are in CSC industry and have running your own b2b, b2c, and reseller admin portal then you have faced many fraud transactions. Many of your members attempt fraud transaction or they don’t return money to customers. But due to lack of their exact identity, you are unable to catch them. This occurs because you don’t have their real Identity. Actually, the scenario is, they started work with you with a fake identity and you also don’t pay attention to it, that’s why it happens.

By keeping this in mind and to stop all these frauds, Ezulix software is adding on Video KYC solution in its updated admin portal. These will provide you complete security and exact member’s details so that you can track them easily to collect back the money.

Here we will discuss, what is video KCY, its advantage, how it works for you. So without wasting time, I come to the point.

What is Video KYC Meaning?

KYC stands for know your customer. It is the detail of customers which you use as the identity of a customer. To start AEPS service for cash withdrawal in the portal, members request to approve KYC. Earlier they had to provide you KYC details through KYC form and you have to do force approval to start their AEPS service. But this method was not so authenticated and reliable. Sometimes members provide you fake information and admin didn’t have any source to authenticate that information. This is the reason, the fraud case was increasing.

Recently we are launching a video KYC feature through which all details of members will authenticate by reliable resources. It will help you to check your customer’s authenticity with all the essential information.

Keep Reading: Video KYC features 2020