BANKING AFFAIRS

Detailed explanation-1: -Once logged into the BHIM app, the user will just have to go to the beneficiaries option. There you will have to enter the recipient’s Aadhaar number. The app will then ask you to verify the Aadhaar number.

Detailed explanation-2: -To provide the AePS service, BANKIT enables you to use the AePS portal login or BANKIT Agent App, which is considered the best AePS App by the users. The government backed BANKIT AePS Portal is a unique platform that allows you to help your customers to withdraw cash from their bank accounts using their Aadhaar.

Detailed explanation-3: -PhonePe users who want to use this Aadhaar-based authentication, have to enter the last six digits of their Aadhaar number to initiate the onboarding process. Then, they will receive an OTP from the Unique Identification Authority of India (UIDAI), and their respective bank to complete the authentication process.

Detailed explanation-4: -The BHIM Aadhaar Pay App facilitates the merchants to receive payments from customers through aadhaar authentication. It is a payment interface that permits the merchant to receive payments digitally and enables funds to reach the merchant’s account directly on time. It is an initiative taken to make cashless payments.