AEPS
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.
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.
AePS FAQ:
Aadhaar Enabled Payment System is a payment service empowering 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 balance enquiry, cash deposit, cash withdrawal, remittances through a Business Correspondent.
Under AePS currently following services are present:
- Balance Enquiry
- Aadhaar to Aadhaar Fund Transfer
- Cash Withdrawal
- Cash Deposit
- BFD
The above services are available in both inter-bank and intra-bank modes.
BFD is Best finger detection .The best finger of a resident is the one that has the highest probability of matching. A resident can possess one or more best fingers, which can be detected during the Best Finger Detection (BFD) process. Operator checks the resident’s fingers and captures all fingers from both hands (generally ten) to determine the best fingers. Once the best attempt is captured for all fingers, It is then compared with the biometric data stored with UIDAI CIDR. Based on the response, results are communicated indicating the best fingers of the resident with the rankings in decreasing order.
Demographic Authentication is a process wherein the resident’s Aadhaar number and demographic inputs are matched against the data stored in UIDAI CIDR provided by the resident during enrolment/update process.
eKYC is Electronic Know Your Customer. It is an electronic way of doing real time KYC of a customer using Aadhaar authentication. The Customer has to provide his/her Aadhaar number and biometrics/OTP. eKYC enables an organization to get electronic copy of customer identity and address details, as present in UIDAI database, with customer consent.
- Aadhaar enabled Payment System is easy to use, safe and secure payment platform to avail benefits by using Aadhaar number & biometrics.
- Aadhaar enabled Payment System is based on the demographic and biometric/iris information of an individual, it eliminates the threat of any fraud and non-genuine activity.
- Aadhaar enabled Payment System facilitate disbursements of Government entitlements like NREGA, Social Security pension, Handicapped Old Age Pension etc. of any Central or State Government bodies using Aadhaar authentication.
- Aadhaar enabled Payment System facilitates inter-operability across banks in a safe and secured manner.
- Reaching the unreached - The model enable banks to extend financial services to the unreached clients beyond their branch network as beneficiaries of the BCs are mostly located at unbanked and underbanked areas.
- Indicate all good fingers apart from best fingers
- IProvide consistently higher authentication accuracy
- IImprove reliability of authentication
- IIndicate suggested actions in case no good fingers are found
- IIdentify residents who may need to update their biometrics
- IIdentify residents who may need to use alternate authentication mechanisms due to inherent poor fingerprint quality
eKYC as a product has following benefits:
- Paperless
- Cost effective
- Prevent Identity hacking and forged documents
- Safe & Secure
- Instantaneous
An intra-bank (ON-US) transaction where an Aadhaar initiated transaction has effects only in accounts within one and same bank and does not necessitate an interbank settlement. A Customer can use Account holding bank terminal deployed on the field for availing AePS Service.
An inter-bank (OFF-US) transaction is one where there is movement of funds from one bank to another necessitating an interbank settlement. Customer can approach other Bank terminals for availing AePS Service.
The bank which has acquired the transaction or the bank whose device has been used is acquirer bank.
Issuer is the bank in which the user hold his/her account and Aadhaar is mapped for doing AEPS Transactions.
RRN number is a 12 digit number generated to record the transaction and to identify a transaction uniquely
What I can do when transactions declined at BC location and account get debited/credited incorrectly by acquirer/issuer Bank?
In such situation one should visit the bank where his/her account is located i.e. the nearest branch of issuer bank
AUA is an Authentication User Agency. Any organization or an entity using Aadhaar number authentication as part of its applications to provide services to residents.
KUA is a KYC User Agency. Any organization or entity who is already an AUA and has signed the agreement to access KYC API.
To become an AUA/KUA, an organization has to adhere guidelines of UIDAI available in below mentioned link: https://authportal.uidai.gov.in/web/uidai/home-articles?urlTitle=on-boarding-documents&pageType=resources
ASA is an Authentication Service Agency. An organization or an entity providing secure leased line connectivity to UIDAI’s data-centre for routing authentication requests from various AUAs.
KSA is a KYC Service Agency. An entity or organization who is already an ASA and has signed the agreement to access KYC API through their network.
Business Correspondent (BC) is an approved Bank Agent providing basic banking service using a MicroATM (terminal) to any bank customer wishing to avail their bank BC service.
-
Bank Name
- Aadhaar Number
- Fingerprint captured during enrolment.
- Cash Deposit
- Cash Withdrawal
- Balance Enquiry
- Mini Statement
- Aadhaar to Aadhaar Fund Transfer
- Authentication
- BHIM Aadhaar Pay
- eKYC
- Best Finger detection
- Demo Auth
- Tokenization
- Aadhaar Seeding Status
7353463574, 9482520390 (9AM To 9PM)