Background
In order to further speed track Financial Inclusion in the country, two working groups were constituted by the RBI on MicroATM standards and Central Infrastructure & Connectivity for Aadhaar-based financial inclusion transactions. These groups included members from RBI, UIDAI, NPCI, IDRBT, and special invitees representing banks and research institutions.
The working group on MicroATM standards & Central Infrastructure & Connectivity submitted its report to RBI. As 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. The PoC was successfully demonstrated at various venues.
AePS is a bank-led model that allows online interoperable financial inclusion transactions at PoS (MicroATM) through the Business Correspondent of any bank using Aadhaar authentication. AePS allows six types of transactions.
- Bank Name
- Aadhaar Number
- Biometrics captured during enrolment