Aadhaar Enabled Payment System (AePS) – Aadhaar Pay

Background
Aadhaar Enabled Payment System (AePS) allows the merchant to accept payment from a customer of any bank, by authenticating the customer’s biometrics.
In order to further speed track Financial Inclusion in the country, Two Working Groups were constituted by RBI on MicroATM standards and Central Infrastructure & Connectivity for Aadhaar based financial inclusion transactions with members representing RBI, Unique Identification Authority of India, NPCI, Institute for Development and Research in Banking Technology and some special invitees representing banks and research institutions.
The working group on MicroATM standards & Central Infrastructure & Connectivity has submitted its report to RBI. As a part of the working group it was proposed to conduct a Lab level Proof of concept (PoC), integrating the authentication & encryption standards of UIDAI, to test the efficacy of MicroATM standards and transactions using Aadhaar before they are put to actual use. The PoC was successfully demonstrated at various venues.
AePS is a bank led model which allows online interoperable financial inclusion transaction at PoS (MicroATM) through the Business correspondent of any bank using the Aadhaar authentication.AePS allows you to do six types of transactions.
The only inputs required for a customer to do a transaction under this scenario are:-

• IIN (Identifying the Bank to which the customer is associated)
• Aadhaar Number
• Fingerprint captured during their enrollment

  

  
  
  

Objectives

• To empower a bank customer to use Aadhaar as his/her identity to access his/ her respective Aadhaar enabled bank account and perform basic banking transactions like cash deposit, cash withdrawal, Intrabank or interbank fund transfer, balance enquiry and obtain a mini statement through a Business Correspondent
• To sub-serve the goal of Government of India (GoI) and Reserve Bank of India (RBI) in furthering Financial Inclusion.
• To sub-serve the goal of RBI in electronification of retail payments.
• To enable banks to route the Aadhaar initiated interbank transactions through a central switching and clearing agency.
• To facilitate disbursements of Government entitlements like NREGA, Social Security pension, Handicapped Old Age Pension etc. of any Central or State Government bodies, using Aadhaar and authentication thereof as supported by UIDAI.
• To facilitate inter-operability across banks in a safe and secured manner.
• To build the foundation for a full range of Aadhaar enabled Banking services.

Services Offered by AePS

• Cash Withdrawal
• Cash Deposit
• Balance Enquiry
• Aadhaar to Aadhaar Fund Transfer
• Mini Statement
• Best Finger Detection

BHIM Aadhaar Pay

BHIM Aadhaar Pay is meant for merchants to receive digital payments from customers over the counter through Aadhaar authentication. It allows for any merchant associated with any acquiring bank on BHIM Aadhaar Pay service, to allow the merchant to accept payment from a customer of any bank, by authenticating the customer’s biometrics – currently only fingerprints, directly from the customer’s Aadhaar enabled bank account and receive the sale proceeds instantaneously directly into merchant’s own bank account.
To be able to effect the same, the merchant must have an Android mobile with the BHIM Aadhaar app and a certified biometric scanner attached with the mobile phone on the USB port AND both the merchant and customer should have had linked their Aadhaar numbers to their bank accounts respectively.

How do I apply for AePS? -

What is AePS?

Aadhaar Enabled Payment System (AePS) is a system developed by the National Payments Corporation of India (NPCI) that allows people to carry out financial transactions on a Micro-ATM by furnishing just their Aadhaar number and verifying it with the help of their fingerprint/iris scan.
People do not have to mention their bank account details to carry out these transactions. With the help of this payment system, people can send funds from one bank account to another simply through their Aadhaar numbers. As the system works on a centralised server, people can send money from their account to any account irrespective of the bank in which the receiver’s account is operated.
This system will add another layer of security to financial transactions as bank details would no longer be required to be furnished while carrying out these transactions and fingerprints of the account holder will be required for authorising the transaction.
Benefits of AePS -
There are a number of benefits of AePS. Some of those are mentioned below:
Banking, as well as non-banking transactions, can be performed through a banking correspondent.
Banking correspondents of one bank can perform transactions of other banks as well.
People do not have to furnish their debit/credit card for making transactions through AePS.
The fingerprint is needed for transaction authentication which makes it safer.
Micro PoS machines can be taken to distant places enabling people in remote villages to make transactions instantly.
What Facilities can be availed through AePS?

People can avail facilities through AePS. These are:
Cash Withdrawal
Balance Enquiry
eKYC – Best Finger Detection/IRIS Detection
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