Aadhaar-enabled Payment System (AePS)
Context: Recently a popular YouTuber, shared how his mother’s bank account was drained using an Aadhaar-linked fingerprint without needing a two-factor authentication. His mother was not informed of the transactions by her bank, via message or otherwise. What is AePS? The Aadhaar-enabled Payment System (AePS) is a bank-led model which allows online financial transactions at …
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