Know your customer (KYC) is a compliance requirement issued by the Reserve Bank of India (RBI). It is required to safeguard customers accounts, purchases and thereby transactions.

    Every pre-paid instrument purchased has to be KYC compliant. As per the recent RBI guidelines on the prepaid instrument, below are the changes required to offer different buying options to GiftMate customer.

  • GiftMate Voucher as per KYC Norms

    There are two types of GiftMate vouchers:-
    • Essential
    • Non-Essential

    • Essential vouchers:
    • Vouchers purchased via the GiftMate website are considered as Essential vouchers.
    • These can be used for Essential services such as: Mobile Recharges, DTH recharges.
    • The maximum value of a GiftMate Essential voucher that can be purchased or maintained as a balance is Rs.10000/-
    Non-Essential vouchers:
    • These vouchers can be utilized for all the services offered by GiftMate.
    • Maximum amount to purchase Non-Essential GiftMate vouchers is Rs.5000/-
    • KYC is required for all Non-Essential vouchers.
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