Airtel Payments Bank rolls out Aadhaar enabled payment system

Kolkata, Feb 27 () Airtel Payments Bank said onThursday that it has launched the Aadhaar enabled paymentsystem (AePS) which will help people to do transactions atover 2,50,000 of its banking points across India.

The system will enable customers, having Aadhaar-linked accounts of any bank, to do transactions at thedesignated points of the Airtel Payments Bank, the companysaid in a statement.

It allows customers to carry out transactions by usingtheir Aadhaar number or virtual ID to access their bankaccounts.

The AePS is a bank-led model which allows onlineinteroperable financial transactions at a point of sale (PoS)through business correspondent of any bank using the Aadhaarauthentication. The AePS allows six types of transactions,including deposit and withdrawal.

"The AePS platform offers ease of secured bankingto everyone by using only their Aadhaar. The AePS roll-out isone more step by Airtel Payments Bank to contribute towardsthe government's vision of financial inclusion," AirtelPayments Bank COO Ganesh Ananthanarayanan said. BSMSOM SOM