Airtel Payments Bank today announced the launch of Aadhaar Enabled Payment System (AePS) across its banking points in the country. With the help of this new payment system, along with customers of Airtel Payments Bank, customers of any bank with Aadhaar linked bank account can undertake financial transactions at over 250,000 banking points of Airtel Payments Bank. Customers of Airtel Payments Bank can also do financial transactions at any AePS enabled bank. This is a good implementation from Airtel Payments Bank and the benefits of AePS will only help the users. Furthermore, the new system is also said to increase the security system at Airtel Payments Bank.
Airtel Payments Bank Now Offers AePS
Aadhaar Enabled Payment System or AePS is a new payment system which allows customers to carry out financial transactions on a micro-ATM by using their Aadhaar number or virtual ID. Usage of Aadhaar or virtual ID gives access to the Aadhaar linked bank account. It is also worth noting that the 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 enquiries 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 which is an added advantage.
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.