Airtel Payments Bank is Indias first Payments Bank, according to the payments bank . The bank would make this service available to all of its 500,000 banking points by the end of this year .
New Delhi (India), November 22: Airtel Payments Bank announced the launch of a face-to-face savings bank account for customers on Tuesday.According to the payments bank, the facility would ease the account opening process by making it seamless and convenient for customers.Airtel Payments Bank is India's first Payments Bank, according to the payments bank.The new facility would enable business correspondents (BCs) of the bank to open an account simply by undertaking face authentication using a newly developed mobile application from the Unique Identification Authority of India (UIDAI), the payments bank said.Airtel Payments Bank's Managing Director and Chief Executive Officer, Anubrata Biswas, said that the bank would make this service available to all of its 500,000 banking points by the end of this year.
According to an Airtel Payments Bank statement, the Aadhaar-based OTP (one-time password) or fingerprint biometric authentication was used until now to open an account with the bank.This KYC scheme is implemented by the National Payments Corporation of India (NPCI) in July 2022, which aids in the detection of fraudulent activities by cross-checking people's picture with the picture taken in Aadhaar and facilitates secure customer onboarding.Bharti Airtel's affiliate, Airtel Payments Bank, is a subsidiary of the Bank.Business correspondents are retail agents who are employed by banks to provide banking services at locations other than a bank branch ATM.