| In addition to UPI, the star of the payments ecosystem in India, NPCI’s Aadhaar-Enabled Payment System (AePS) infrastructure has been promoting financial inclusion in the country. According to the World Bank, 65.07% of the Indian population lives in rural areas. The role of technology in promoting financial inclusion in many emerging economies cannot be undermined. AePS harnesses technology to enable bank account holders with Aadhaar cards to access banking services. With AePS, banks can go where their customers are, and not the other way around. |
