FinAEPS is an online immediate payment solution which interfaces with the AEPS of NPCI and supports transactions from one Aadhaar linked account to another routed through Aadhaar Enabled device (as per specification of NPCI), CBS and UIDAI. FinAEPS application is hosted as a part of financial transaction switch of the bank and is seamlessly integrated with the CBS application.

Use cases of FinAEPS

Regular ATMs

FinAEPS supports cardless transactions at Regular ATMs. Customer need not carry his ATM card at all. The transaction can be initiated by entering the Aadhaar number manually followed by biometric authentication instead of entering PIN.

Business Correspondent Model / Agent Banking through Micro-ATMs or Tablets

FinAEPS forms an interface between the Micro-ATMs/Tablets, Bank’s ATM switch and CBS for carrying out Aadhaar Authentication as well as Aadhaar-based transactions. Finacus provides a full-fledged BC Model or Agent Banking Solution which combines the features of FinAEPS and FinMOBICONNECT (Mobile Payments Transaction Switch) to offer a range of services to the end customers.

RuPay Cards

RuPay cards with Aadhaar number empowers account holder to transact on multiple platforms (like ATM & Micro-ATMs) using the same card. The account holder need not remember the Aadhaar number but merely swipe it on the relevant device which will capture the Aadhaar number and initiate the transaction.