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Airtel Payments Bank rolls out Aadhaar-enabled payment system

Monday 2 March 2020 14:39 CET | News

Airtel Payments Bank has launched the Aadhaar enabled payment system (AePS), to help people perform transactions at over 250,000 of its banking points across India.


It allows customers to carry out transactions by using their Aadhaar number or virtual ID to access their bank accounts. The AePS is a bank-led model that allows online interoperable financial transactions at a point of sale (PoS) through business correspondent of any bank using the Aadhaar authentication. 

The AePS allows six types of transactions, including deposit and withdrawal. Earlier, in June 2019, Airtel Payments Bank has enabled open loop BHIM UPI-based payments at over 500,000 merchant points across India, allowing consumers to make digital payments for goods and services by using any BHIM UPI-enabled bank or payments app over their mobile phones. 

Airtel Payments Bank’s payments solution for merchants allows consumers to make instant cashless payments from their mobile phones, directly through their savings bank accounts by just scanning a merchant QR code through their preferred BHIM UPI-enabled app.

Source: Link


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Keywords: Airtel Payments Bank, Aadhaar enabled payment system, AePS, India, online transactions, online payments, banking points, digital payments, mobile payments QR payments, Asia, APAC
Categories: Payments & Commerce
Companies:
Countries: India
This article is part of category

Payments & Commerce

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