Aadhaar Enabled Payment System(AePS) is a cashless payment system that allows Indian citizens to carry out financial transactions on a Micro-ATM by simply presenting their Aadhaar number and biometric information. Developed by the National Payments Corporation of India (NPCI) and implemented with numerous partner banks, the AePS seeks to revolutionize cashless payment by making disclosure of bank details unnecessary, resulting in faster and more secure transactions. It is linked to a centralized server which makes it possible for anyone to send and receive money via their accounts to and from any other account in the system regardless of the partner bank being used.
The Indian government and the banking sector have embarked on a massive program to integrate into the fold of formal financial services more than 900 million unbanked Indians living in remote rural areas with little or no physical access to bank branches. Bank-led agencies have turned to technology for ways to allow the unbanked to participate in branchless financial activities securely. The AePS uses a simple setup consisting of a fingerprint scanner hooked up to a phone or tablet with 3G/4G connectivity. However, the initial stages of the implementation saw substandard scanners and host devices finding their way into the system. The inability of these inferior devices to guarantee smooth and uninterrupted operation has resulted in many failed transactions. This has led the NPCI and the AePS to implement stricter standards on the devices.
FBI FAP 20 & STQC Certified Optical Fingerprint Scanner
In early 2020, the Aratek A400 and A600 fingerprint scanners were granted STQC and RD (registered device) certifications, making them finally eligible for use in India. Moving quickly, AePS service providers such as SPICE MONEY, RAPIPAY, PAYPOINT, ROINET, RNFI RELIPAY, E-Shram and Jeevan Pramaan, CSC and DIGIPAY have integrated their applications with Aratek’s scanners in no time, ready for a massive roll out. The AePS providers have cited Aratek’s superior quality and exceptional performance at surprisingly affordable price points. Rajesh of Varunan Infotech has pointed out that “nowadays, there are too many expensive yet low quality sensors on the market.” In contrast, Varunan noted that the A600 scanner is generously equipped with 9 infrared LED and FAP20 capture area, allowing for very high- quality image captures. Moreover, it has the fastest live transaction and is even capable of “capturing Mehendi fingers which no other company can do.”
With 9 infrared LED and FAP20 capture area of the Aratek A600 scanner...it is even capable of capturing Mehendi fingers which no other company can do.