Aadhaar Enabled Payment System

Aadhaar Enabled Payment System or AEPS is a new payment service offered by the National Payments Corporation of India to banks and financial institutions using ‘Aadhaar’. Aadhaar is a unique identification number issued by Unique Identification Authority of India (UIDAI). This service can be availed at Customer Access Points (CSPs) managed by Business Correspondents (BCs) using Point of Sale (POS) devices. Oxigen, being one such financial institution, provides AEPS services across India through its appointed BCs who use Oxigen Micro ATM PoS machines.

A Business Correspondent who is an intermediary appointed by a bank to extend Banking services in areas where they do not have a branch can own an Oxigen Micro ATM to offer AEPS services to bank customers. The scope of activities undertaken by the Business Correspondents includes, inter alia, collection of small value deposits, cash withdrawals and small value interbank remittances. Please note that within the scope of AEPS, a BC of a bank is treated as an integral part of the Bank and its Correspondent Bank is responsible for all its acts of commissions and omissions.

This service empowers a bank customer to use Aadhaar as his/her identity to access his/ her respective Aadhaar enabled bank account and perform basic intrabank or interbank transactions, including - Balance Enquiry, Cash Deposit, Cash Withdrawal and Remittances. For all transactions whether intrabank or interbank, a Transaction Receipt is printed and handed over to the customer as a transaction record with its finality status, by the BC through whom the transaction was initiated.

For all Aadhaar enabled financial transactions, whether, intrabank or interbank, a BC uses his Oxigen Micro ATM, ask for customers Aadhaar number and scans his customer’s fingerprint using biometric scanner attached to the MicroATM. A transaction will be b successful only when the Aadhaar authentication is successful.

Important: Oxigen MicroATM adheres to the ‘Aadhaar Authentication API and Devices Security Specification and Biometric Fingerprint Scanner Specifications’ of the UIDAI for Aadhaar authentication. A positive Aadhaar authentication is an indispensable part of any Aadhaar enabled financial transaction.