Airtel Payments Bank said on Thursday that it has launched the Aadhaar enabled payment system (AePS) which will help people to do transactions at over 2,50,000 of its banking points across India. The system will enable customers, having Aadhaar- linked accounts of any bank, to do transactions at the designated points of the Airtel Payments Bank, the company said in a statement
AePS allows customers to carry out financial transactions like withdrawals, balance inquiries and requesting mini-statements on a micro-ATM by using their Aadhaar number or virtual ID to access their Aadhaar-linked bank account. Transactions will be authenticated only if the customer’s Aadhaar number and fingerprint match the records.
Mr. Ganesh Ananthanarayanan, Chief Operating Officer, Airtel Payments Bank, said, “We are excited to be a part of AePS, which will allow us to service customers of any bank who have an Aadhar enabled Bank Account. The AePS platform offers ease of secured banking to everyone by using only their Aadhaar. AePS roll-out is one more step by Airtel Payments Bank to contribute towards the Government of India’s vision of financial inclusion.”
AePS will increase the security layer of the banking processes at Airtel Payments Bank as customers complete their banking transactions with just their Aadhaar number without revealing their bank account or debit card details to anyone.