Airtel Payments Bank Partners NPCI To Roll Out Face Authentication For AePS
Listen to This Article
Airtel Payments Bank on Tuesday said it has collaborated with the National Payments Corporation of India (NPCI) to roll out face authentication for the Aadhaar-enabled Payment System at its 5 lakh banking points.
Airtel Payments Bank is among the first four banks to offer face authentication for AePS (Aadhaar-enabled Payment System).
"We are delighted to collaborate with NPCI to offer this new facility to our valuable customers. Face authentication is an important addition to our existing bouquet of secure and simple banking solutions to drive financial and digital inclusion in the country," Airtel Payments Bank COO Ganesh Ananthanarayanan said in a statement.
NPCI's AePS allows customers to carry out financial and non-financial transactions at any banking point using their Aadhaar number or virtual ID to access their Aadhaar-linked bank account.
Until now, transactions were being authenticated using the customer's Aadhaar number and fingerprint or Iris match in the UIDAI records.
The new facility will enable customers to validate the transaction by undertaking face authentication along with the Aadhaar number.
The authentication is processed using the Face Authentication RD Application by the Unique Identification Authority of India (UIDAI).
"It is delightful to see Airtel Payment Bank implementing this feature for AePS transactions, which will enhance the reach of Aadhaar-based transactions across the country," NPCI Chief Operating Officer Praveena Rai said.
In the first phase, Airtel Payment Bank will make the facility available for non-financial transactions balance enquiry and mini-statements.
"As per the guidance from NPCI, Airtel Payments Bank will enable the functionality for other bank customers and the Bank's customers at other banking outlets," the statement said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Coutts Sets Scope On New Continent
Coutts steps into private marketsCoutts, the private bank best known for serving Britain’s wealthiest families and the... Read more
From Cypherpunk To Citadel
How Crypto Moved from the Wild West to the Mainstream Financial SystemA long-form analysis of Bitcoin's journey from fri... Read more
ACB Securities: Building Scale, Trust & Innovation
ACB Securities: Building Scale, Trust and Innovation in Vietnam’s Capital MarketsACB Securities (ACBS) is emerging as ... Read more
War Risk Returns To Markets As VIX Surges
For most of the past year, global markets behaved as though geopolitical risk had largely disappeared. Inflation was eas... Read more
Stablecoin The Future Of Currency?
The payments system is undergoing a quiet but consequential shift. What was once the exclusive preserve of central banks... Read more
BoE Loosens Capital Rules
The Bank of England has taken a significant step towards easing post-crisis regulation by lowering its estimate of the c... Read more