Skip to content 
Search

Latest Stories

Wirecard teams up with India to issue permanent account number cards

WIRECARD has partnered with Indian government-owned firm UTI Infrastructure Technology and Services Limited (UTIITSL), to facilitate the issuing of physical and digital taxpayer identification cards, also known as permanent account number (PAN) cards.

For this, German-based company’s retail agents in India collect documents needed for PAN cards, digitize and forward them to UTIITSL who issues the cards and sends them directly to the customer.


Every citizen in India requires a PAN card. The card is required to carry out most financial transactions, ranging from opening a bank account to transferring money, but can also serve as proof of identity.

UTIITSL already has a network of 62 branches across India. Through the latest collaboration with Wirecard, nearly 350 cities will be served by approximately 15,000 Wirecard agents which are authorized to collate and forward citizens’ documents for PAN cards.

Anil Kapur, managing director India at Wirecard, said: “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.

“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.”

As one of the two service providers authorized to issue PAN cards in both digital (ePAN) and physical formats, UTIITSL provides technology services to the financial and government sectors of India.

With the PAN card, tax entities and individuals alike can keep track of tax payments and declarations, since all information is stored in a centralized database and all financial transactions can be identified.

In addition, PAN cards are an effective measure against tax evasion in India.

More For You

Asian firm acquires Kings Court Hotel for £2.75m

UK-based Nanak Hotels acquired the 60-room Kings Court Hotel in Warwickshire for £2.75 million. (Photo: Colliers International UK)

Asian firm acquires Kings Court Hotel for £2.75m

UK-BASED Nanak Hotels recently acquired the 60-room Kings Court Hotel, a 17th-century property in Warwickshire, England, for £2.75 million. This is the first regional acquisition by the privately held firm led by British Indians Harpreet Singh Saluja and Karamvir Singh.

Nanak Hotels, which operates a UK property portfolio, plans to invest in the property's refurbishment and repositioning, according to a statement from Colliers International UK, which brokered the transaction.

Keep ReadingShow less
Priya Nair becomes first woman CEO in Hindustan Unilever's history

Priya Nair (Photo: Unilever)

Priya Nair becomes first woman CEO in Hindustan Unilever's history

PRIYA NAIR has been appointed as the CEO and managing director of Hindustan Unilever Ltd (HUL), effective from August 1. She will be the first woman to lead the company in its history.

The announcement was made by HUL on Thursday (10). Nair, who currently serves as president, Beauty & Wellbeing at Unilever, will take over the role from Rohit Jawa, who will step down on July 31 to pursue other interests.

Keep ReadingShow less
UK business district
The Canary Wharf business district including global financial institutions in London.
Getty Images

Economy shrinks again in May, hitting Labour’s growth plans

THE UK economy contracted unexpectedly in May, marking the second consecutive monthly decline, according to official data released on Friday. The figures present a challenge for the Labour government as it attempts to revive economic growth.

Gross domestic product fell by 0.1 per cent in May, following a 0.3 per cent contraction in April, the Office for National Statistics (ONS) said in a statement.

Keep ReadingShow less
SBI UK cuts mortgage rates

The bank's commitment to green lending reflects focus on sustainability (Photo: Getty Images)

SBI UK cuts mortgage rates

BANKING major State Bank of India (UK) has cut interest rates on its buy-to-let mortgage products to help landlords reduce borrowing costs.

The bank said the rate cuts would help landlords invest in rental properties and meet growing demand for rental homes across the UK.

Keep ReadingShow less