RBI enhances robustness in Aadhar Enabled Payment Systems

The Reserve Bank of India (RBI) on Friday issued guidelines to streamline the onboarding process for Aadhar Enabled Payment Systems (AePS) touchpoint operators and strengthen the fraud risk management. The guidelines will come into effect from January 1.

“In recent times, there have been reports of frauds perpetuated through AePS due to identity theft or compromise of customer credentials. To protect bank customers from such frauds, and to maintain trust and confidence in the safety and security of the system, a need is felt to enhance the robustness of AePS,” the notification issued by the central bank said. The draft guidelines were issued on July 31, 2024.