Airtel Payments Bank has rolled out Aadhaar Enabled Payment System (AePS) at over 250,000 of its Banking Points across India.
Customers of Airtel Payments Bank with Aadhaar linked bank accounts can make financial transactions at banking points of Airtel Payments Bank. Customers of Airtel Payments Bank can also do financial transactions at any AePS enabled bank.
AePS allows customers to carry out financial transactions on a Micro-ATM by using their Aadhaar number or virtual ID to access their Aadhaar linked bank account. AePS enables Airtel Payments Bank to offer a 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.
AePS will increase the security layer of the banking processes at Airtel Payments Bank as customers complete their banking transactions with their Aadhaar number without revealing their bank account or debit card details to anyone.
Ganesh Ananthanarayanan, chief operating officer, Airtel Payments Bank, said: “The AePS platform offers secured banking to everyone by using only their Aadhaar.”
Airtel Payments Bank, launched in January 2017, has over 40 million plus customers and over 500K banking points across the country.