ICICI Bank AePS API Provider

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 AEPS in banking plays a vital role.Advantages of Aadhaar Enable Payment System:All Bank Cash Withdrawal.All Bank Cash DepositAll Bank Balance EnquiryAADHAAR into AADHAAR Funds Transfer.Gateway Authentication ServiceThe aim of AADHAAR Enabled Payment Method (AEPS) would be to enable a bank client to utilize AADHAAR to get his/her AADHAAR -- empowered bank accounts and execute standard banking transactions which are intra-bank or interbank in character by means of a business correspondentIt serves another major aim of both RBI in the electrification of retail payments.

It would allow banks to track the AADHAAR -initiated interbank trades through a central switching and clearing bureau.Obtain an aadhaar payment program to improve Aadhaar Enabled Payment Method:Well to start off, you want an aadhaar payment program, because it's the absolute required to maintain progress in this industry.

Thus, you must find this aadhaar payment program.

But possessing an aadhaar program without certain features would not be a fantastic idea; because it might damage your cause more anything else.Photo Identity Proof (PAN Card backup )Address Proof (Aadhaar Card backup )Bank Details (Bank Chaque/Bank Statement).Aadhaar Enabled Payment Method StationaryAEPS Agency Stationary, Following are the particulars of Stationary:Finger Printing Device, Eye Scanner Startek, Mantra, Morpho BundleDesk Top or NotebookPrinterInternet ConnectionAEPS User Details.Before beginning this AEPS:you ought to have a pc or notebookyou ought to have a printer and Scanneryou ought to get an online connection.

With the advent of open APIs, new business opportunities are being created at the core of banking services.

Additionally, with the PSD2 directives deadline looming, banks need to ensure 24/7 availability of APIs to third-party providers.

theAsianbanker revealed that “one of the top banks in India implemented an API-based solution for its customer.

The solution aimed to reduce inefficiencies in the trade finance and financial supply chain, by providing a cost-effective and efficient means of automating bill discounting”.

Open APIs are fundamentally transforming the banking experience for end users, whether it is individuals or global corporates.

For banks to design, build, and operate such vast and complex financial ecosystems based on open APIs, they need to be backed by robust quality assurance processes.

Challenges due to APIs:

• As multiple applications and parties are involved in API-based transactions, multi-stage commits and rollbacks have to be executed to perfection.
• Real-time monitoring has to be performed to plug any un-envisaged process gaps. Insufficient discussion and debate on transaction rollback procedures and error handling have led to banks left with footing a large bill—sandwiched between clients and third party payment initiators.
• Points of failure can be external to banks and unlike credit cards, the traceability of transactions will be more painstaking and difficult to establish. With no interchange fees to create validation infrastructure, banks must not believe that the risks are similar to credit cards.  Security protocols and authentication of third parties will gain prominence.

API testing makes FinTech innovation a reality