All about AEPS!

1)What's Aadhaar Enabled Payment Method? 

Aadhaar Enabled Payment System is a payment support enabling a lender
Client to utilize Aadhaar as his identity to get His or Her individual Aadhaar
Allowed bank accounts and execute basic banking transactions such as equilibrium enquiry,
Money deposit, cash withdrawal, remittances. Via A Business Correspondent

 2) Which Are The Services Provided Under AEPS?

Beneath AEPS Currently Pursuing Services Exist:- Balance Enquiry
- Aadhaar Into Aadhaar Fund Transfer
- Money Withdrawal
- Cash Deposit
- BFD
The mentioned Services Can Be Found In The Two Inter- bank and intra-bank Manners.

3) What's BFD?BFD is Greatest finger detection. The top finger of a resident would be the One Which gets the
The greatest probability of fitting. A resident could have one or better hands,
That may be discovered during the ideal Finger Detection (BFD) process. Operator
Assesses The resident's palms and catches all fingers from the hands (generally
Ten) to ascertain the best hands-on. After the best effort is recorded for all
Palms, it's then contrasted with the biometric information saved with UIDAI CIDR. According
About the answer, results are carried signaling the best hands of this
Resident, together with all the positions in diminishing order.

4) What's Demographic authentication?

Demographic authentication is a process iSeries the resident's Aadhaar amount and demographic inputs are matched against the
Data saved in UIDAI CIDR supplied by the resident throughout
Enrolment / update procedure.

5) What's the eKYC Service? 

EKYC is Digital Know Your Client. It's a digital way The KYC of a client using Aadhaar authentication. The client must give his / her Aadhaar amount and biometrics / OTP. EKYC empowers an organization to find an electronic copy Of customer identification and address details, as current in UIDAI Database, together with client approval.

6) Which are the Advantages of AEPS?

Advantages of AEPS are as follow:-Aadhaar empowered Payment Process is Simple to Use, secure and safe payment Platform to get advantages by epitaxial Aadhaar amount & fingerprints.
--Aadhaar allowed Payment Process relies on the market and
Biometric / iris advice of a Person, It eliminates the danger of any
Fraud and non-genuine action.
--Aadhaar allowed Payment Method ease disbursements of Authorities
Entitlements such as NREGA, Social Security pension, Handicapped Old Age
Profession etc.) of any Central or State Government bodies, with Aadhaar
authentication.
--Aadhaar allowed Payment System eases inter-operability
Across banks in a safe and secured Method
--Reaching the unreached --The version allows banks to expand
Financial solutions to the unreached customers beyond their division
Community as beneficiaries of those BCs are mostly found at
unbanked and underbanked areas. 

7) Which are the Advantages of BFD?

Listed below are the advantages BFD:--Indicate all Great palms besides best fingers --Give
consistently higher authentication precision --Boost
the reliability of authentication
--Indicate suggested activities if no great palms are located
--Identify inhabitants who Might Need to upgrade their biometrics
--Identify inhabitants who Might Need to use alternative authentication mechanisms
Because of underlying poor fingerprint quality
 

8) What Will Be The Advantages Of EKYC?

EKYC For Merchandise Has The Following Advantages: -. Paperless
- Cost-Efficient
- Avoid Identity Hacking And Forged Documents
- Safe Ando Secure
- Instantaneous

 9) What's ON-US?

 Trade An Intra-Bank (ON-US) trade where an Aadhaar initiated Trade has impacts only in accounts in the same lender.
And doesn't demand an interbank settlement. A Client can
Utilize account holding bank terminal deployed on the area for availing
AEPS Service.

10) What's OFF-US trade? 

An inter-bank (OFF-US) trade is one where there's motion
Of capital from 1 lender to another requiring an interbank
settlement. A client can approach additional Bank terminals for availing
AEPS Service.

11)Who's acquirer Bank? 

The lender That Has obtained the trade or the lender whose Appliance was utilized is acquirer bank.

12)Who's issuer Bank?

The issuer is your lender where the consumer holds his / her accounts and Aadhaar Is well known for performing AEPS Transactions.

13)What's an RRN No.?

RRN amount is a 12 digit number created to record the trade and also to Identify trade distinctively.

14)What I could do if trades diminished at BC place and
Do accounts get debited / credited erroneously by acquirer / issuer Bank?

In this situation, one should see the bank in which his / her account is Found, ie the closest branch of issuer bank.

15)What's Aadhaar number?

It's a 12 digit unique identification number that shops demographic And biometric data of this resident with a picture issued by
Particular Identification Authority of India (UIDAI) on behalf of
Government of India. Aadhaar serves as evidence of identity and
Speech, anywhere in India.
Aadhaar amount is a 12 digit unique identification number that
Never begins with "0" and "1 ". The final chunk of this Aadhaar amount is
A checksum.

16)The best way to become an AUA / KUA?

To become an AUA / KUA, A company must adhere guidelines of Accessible Below Mentioned UIDAI Link: -
Https://Authportal.Uidai.Gov.In/static/Eligibility_Criteria_for_AUApasento2
0_KUA.Pdf

17)What's AUA / KUA ?

AUA Is An Authentication User Agency Any Company Or An Entity
With Aadhaar Amount Authentication As part of its software to
Supply residents. KUA is a KYC User Agency. Any company or entity Who's currently
An AUA and has signed the agreement to get KYC API.

18)What's ASA / KSA?

ASA is an Authentication Service Agency. A company or an entity Supplying secure leased line connectivity into UIDAI's data-center to get
routing authentication requests from various areas
KSA is a KYC Service Agency. An entity or business Who's currently
An ASA and has signed the agreement to get KYC API through their
network.

19)What's BC?

Business Correspondent (BC) is a licensed Bank Agent supplying. Fundamental banking agency using a Micro ATM (terminal) to some lender
Customer wanting to avail their lender BC support.