Airtel Payments Bank, in collaboration with the National Payments Corporation of India (NPCI), has introduced face authentication for the Aadhaar-enabled Payment System (AePS) at its five lakh banking points. This initiative marks one of the first of its kind in India, with four banks partnering with NPCI to offer face authentication for AePS.
The introduction of face authentication is seen as a significant addition to Airtel Payments Bank’s existing secure and user-friendly banking solutions, aimed at driving financial and digital inclusion in the country. AePS allows customers to perform financial and non-financial transactions at any banking point using their Aadhaar number or virtual ID to access their Aadhaar-linked bank account. Previously, transactions required authentication through the customer’s Aadhaar number and fingerprint or iris match in the UIDAI records. With the new feature, customers can validate transactions by undergoing face authentication alongside providing their Aadhaar number.
The collaboration with NPCI will enable Airtel Payments Bank to expand its reach and improve the accessibility of Aadhaar-based transactions across the country. NPCI Chief Operating Officer Praveena Rai expressed delight at Airtel Payments Bank’s implementation of this feature for AePS transactions, which will enhance the reach of Aadhaar-based transactions nationwide.
In the initial phase, Airtel Payments Bank will offer face authentication for non-financial transactions like balance inquiries and mini-statements. As per NPCI’s guidance, the bank will subsequently extend this functionality to other bank customers and its own customers at other banking outlets.
Airtel Payments Bank is also partnering with NPCI to test digital payments through feature phones. Among the use cases being tested in tier-II and tier-III cities, interactive voice response (IVR) technology is being explored for digital payments.
Some important facts about Airtel Payments Bank include:
- Airtel Payments Bank is a subsidiary of Bharti Airtel, a leading telecommunications company in India.
- It was launched in 2017 as India’s first payments bank, focusing on providing digital banking and financial services to the underbanked and unbanked population.
- Airtel Payments Bank offers services such as savings accounts, current accounts, money transfers, bill payments, and digital banking services.
- The bank operates through a network of banking points, including Airtel retail stores, authorized banking points, and partner outlets.
- Airtel Payments Bank is a licensed entity under the Reserve Bank of India (RBI) and operates as a semi-closed wallet, allowing customers to use it only for transactions with the bank’s authorized merchants.
- The bank has partnered with various government schemes, including the Pradhan Mantri Jan Dhan Yojana (PMJDY), to provide digital banking services to the unbanked population in India.
