Airtel Payments Bank has launched Aadhaar-enabled payment system (AePS) at over 250,000 banking points across India. Through this, Airtel has enabled customers of any bank with Aadhaar-linked bank accounts to make financial transactions at the designated banking points of Airtel Payments Bank.
Moreover, customers of Airtel Payments Bank can also do financial transactions at any AePS enabled bank.
The company has stated that AePS would enable customers to carry out financial transactions like withdrawals, balance enquiries and requesting mini-statements on a micro-ATM by using their Aadhaar number or virtual ID to access their Aadhaar-linked bank account. Transactions will be authenticated only if the customer’s Aadhaar number and fingerprint match the records.
As per Airtel, AePS will increase the security layer of the banking processes at Airtel Payments Bank as customers will be able to complete their banking transactions with just their Aadhaar number without revealing their bank account or debit card details.
