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.
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.
