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Aadhaar Enabled Payment System

Aadhaar Enabled Payment System is a payment service empowering a bank customer to use Aadhaar as his/her identity to access his/ her respective Aadhaar enabled bank account and perform basic banking transactions like balance enquiry, cash deposit, cash withdrawal, remittances through a Business Correspondent.

Under AEPS currently following services are present:

• Balance Enquiry
• Aadhaar to Aadhaar Fund Transfer
• Cash Withdrawal
• Cash Deposit
• Best finger detection.

The best finger of a resident is the one that has the highest probability of matching. A resident can possess one or more best fingers, which can be detected during the Best Finger Detection (BFD) process. Operator checks the resident’s fingers and captures all fingers from both hands (generally ten) to determine the best fingers. Once the best attempt is captured for all fingers, It is then compared with the biometric data stored with UIDAI CIDR. Based on the response, results are communicated indicating the best fingers of the resident with the rankings in decreasing order.

Benefits of AEPS are as follow:

• Aadhaar enabled Payment system is easy to use, safe and secure payment platform to avail benefits by using Aadhaar number & finger prints.

• Aadhaar enabled Payment system is based on the demographic and biometric/iris information of an individual, it eliminates the threat of any fraud and non-genuine activity.

• Aadhaar enabled Payment System facilitate disbursements of Government entitlements like NREGA, Social Security pension, Handicapped Old Age Pension etc. of any Central or State Government bodies, using Aadhaar authentication.

• Aadhaar enabled Payment System facilitates inter-operability across banks in a safe and secured manner - Reaching the unreached
• The model enable banks to extend financial services to the unreached clients beyond their branch network as beneficiaries of the BCs are mostly located at unbanked and underbanked areas.



Practice Question:

1. Which of the following is/are the benefits of Best Finger Detection?
1. It indicates all good fingers apart from best fingers.
2. It provides consistently higher authentication accuracy.
3. Identify residents who may need to use alternate authentication mechanisms due to inherent poor fingerprint quality.

Codes:

  a) 1 and 2

  b) 2 and 3

  c) All

  d) None

Ans: c
Exp: BFD is Best finger detection .The best finger of a resident is the one that has the highest probability of matching. A resident can possess one or more best fingers, which can be detected during the Best Finger Detection (BFD) process. Operator checks the resident’s fingers and captures all fingers from both hands (generally ten) to determine the best fingers. Once the best attempt is captured for all fingers, It is then compared with the biometric data stored with UIDAI CIDR. Based on the response, results are communicated indicating the best fingers of the resident with the rankings in decreasing order.
The following are the benefits BFD:
• Indicate all good fingers apart from best fingers
• Provide consistently higher authentication accuracy
• Improve reliability of authentication
• Indicate suggested actions in case no good fingers are found
• Identify residents who may need to update their biometrics
• Identify residents who may need to use alternate authentication mechanisms due to inherent poor fingerprint quality

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