The Airtel Payments Bank has launched Aadhaar-enabled Payment System (AePS) to offer ease of secured banking to everyone by using only their Aadhaar.

Airtel Payments Bank launched Aadhaar enabled payment system (AePS)

The Airtel Payments Bank has launched Aadhaar-enabled Payment System (AePS) at over 250,000 banking points across India.

Beneficial Affect

  • Customers of any bank with Aadhaar-linked bank accounts can now make financial transactions at the designated banking points of Airtel Payments Bank.
  • Customers of Airtel Payments Bank can also do financial transactions at any AePS enabled bank.

READ MORE Facts about Airtel Payments Bank

AePS: A bank-led model

  1. AePS offers ease of secured banking to everyone by using only their Aadhaar.
  2. Allows online interoperable financial transactions at a point of sale (PoS) through business correspondent of any bank using the Aadhaar authentication.
  3. Allows six types of transactions viz. deposit, withdrawals, balance enquiries and requesting mini-statements on a micro-ATM.

Ganesh Ananthanarayanan, the COO at Airtel Payments Bank stated that:

The AePS platform offers ease of secured banking to everyone by using only their Aadhaar. The AePS roll-out is one more step by Airtel Payments Bank to contribute towards the government’s vision of financial inclusion

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