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Now, Airtel Payments Bank rolls out Aadhaar enabled Payment System

The Airtel Payments Bank has enabled Aadhaar Enabled Payment System (AePS) at over 2,50,000 of its banking points across India. Not just customers of Airtel Payments Bank, but of any bank with Aadhaar linked bank accounts can undertake financial transactions with AePS at the designated banking points of Airtel Payments Bank. 

India TV Business Desk India TV Business Desk
New Delhi Published on: February 27, 2020 17:37 IST
Now, Airtel Payments Bank rolls out Aadhaar enabled Payment

Now, Airtel Payments Bank rolls out Aadhaar enabled Payment System 

The Airtel Payments Bank has enabled Aadhaar Enabled Payment System (AePS) at over 2,50,000 of its banking points across India. Not just customers of Airtel Payments Bank, but users of any bank with Aadhaar linked bank accounts can undertake financial transactions with AePS at the designated banking points of Airtel Payments Bank. The customers of Airtel Payments Bank can also do financial transactions at any AePS enabled bank.

What is  Aadhaar enabled Payment System or AePS

AePS allows customers to carry out financial transactions 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. With AePS, Airtel Payments Bank will be able to offer a wide range of banking services to its account holders as well to customers of other banks who will now be able to withdraw, make balance inquiries and request mini-statements at the 2,50,000+ AePS enabled banking points of Airtel Payments Bank. Similarly, Airtel Payments Bank customers will be able to avail these services from any other AePS enabled bank. 

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.

'AePS ease of secured banking'

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.”

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