Aadhaar Enabled Payment System is a payment service empowering 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 balance enquiry, cash deposit, cash withdrawal, remittances through a Business Correspondent.
Under AePS currently following services are present:
The above services are available in both inter-bank and intra-bank modes.
BFD is Best finger detection .The best finger of a resident is the one that has the highest probability of matching. A resident can possess one or more best fingers, which can be detected during the Best Finger Detection (BFD) process. Operator checks the resident’s fingers and captures all fingers from both hands (generally ten) to determine the best fingers. Once the best attempt is captured for all fingers, It is then compared with the biometric data stored with UIDAI CIDR. Based on the response, results are communicated indicating the best fingers of the resident with the rankings in decreasing order.
Demographic Authentication is a process wherein the resident’s Aadhaar number and demographic inputs are matched against the data stored in UIDAI CIDR provided by the resident during enrolment/update process.
eKYC is Electronic Know Your Customer. It is an electronic way of doing real time KYC of a customer using Aadhaar authentication. The Customer has to provide his/her Aadhaar number and biometrics/OTP. eKYC enables an organization to get electronic copy of customer identity and address details, as present in UIDAI database, with customer consent.
Benefits of AePS are as follow:
The following are the benefits BFD:
eKYC as a product has following benefits:
An intra-bank (ON-US) transaction where an Aadhaar initiated transaction has effects only in accounts within one and same bank and does not necessitate an interbank settlement. A Customer can use Account holding bank terminal deployed on the field for availing AePS Service.
An inter-bank (OFF-US) transaction is one where there is movement of funds from one bank to another necessitating an interbank settlement. Customer can approach other Bank terminals for availing AePS Service.
The bank which has acquired the transaction or the bank whose device has been used is acquirer bank.
Issuer is the bank in which the user hold his/her account and Aadhaar is mapped for doing AEPS Transactions.
RRN number is a 12 digit number generated to record the transaction and to identify a transaction uniquely.
In such situation one should visit the bank where his/her account is located i.e. the nearest branch of issuer bank.
To become an AUA/KUA, an organization has to adhere guidelines of UIDAI available in below mentioned link: https://authportal.uidai.gov.in/web/uidai/home-articles?urlTitle=on-boarding-documents&pageType=resources
AUA is an Authentication User Agency. Any organization or an entity using Aadhaar number authentication as part of its applications to provide services to residents.
KUA is a KYC User Agency. Any organization or entity who is already an AUA and has signed the agreement to access KYC API.
ASA is an Authentication Service Agency. An organization or an entity providing secure leased line connectivity to UIDAI’s data-centre for routing authentication requests from various AUAs.
KSA is a KYC Service Agency. An entity or organization who is already an ASA and has signed the agreement to access KYC API through their network.
Business Correspondent (BC) is an approved Bank Agent providing basic banking service using a MicroATM (terminal) to any bank customer wishing to avail their bank BC service.