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AePS transactions surge over the past 12 months
Surabhi
Mumbai |
Updated on
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If the Unified Payments Interface has captured the spotlight for its ease of use and popularity, its lesser known peer Aadhaar enabled Payment System (AePS) too has been gaining equally steady traction.
Data with the National Payments Corporation of India (NPCI) reveals that the value of transactions through AePS has nearly doubled to Rs 21,978.51 crore in January 2021 from Rs 11,286.61 crore in January last year. The total approved transactions has also grown by 47 per cent in this one year period to 31.51 crore by January this year.
Players say that AePS has been significantly popular in rural areas and received a massive push during the Covid-19 pandemic led lockdown. AePS transactions can be done easily at PoS (MicroATM) through the Business correspondent of any bank using the Aadhaar authentication. The only inputs required from a customer are the bank name, Aadhaar number and fingerprint