All-In-One Guide to Activate AEPS 2 Factor Authentication (2FA) in Dogma Wallet – Dogma Soft Limited

AEPS has been playing a crucial role in helping citizens carry out bank transactions without visiting banks. The government keeps an eye on evolving AEPS time-to-time to make it more efficient, simpler & most importantly, secure.

Recently one more security measure has been taken to make Aadhaar Enabled Payment System. NPCI has lately made it mandatory for retailers to complete 2 Factor Authentication (2FA) for using AEPS Services. Wondering what is it?

No need to worry anymore. This blog explains everything about this new term including its meaning & how to implement it in Dogma’s Retailer Panel plus how it makes AEPS much more secure. Let’s begin.

What is AEPS 2 Factor Authentication?

This is a newer security protocol introduced by NPCI that bounds merchants to activate the AEPS module on a daily basis. In simpler words, merchants will now require to biometrically authenticate their identity daily by logging into their respective retailer panels. This 2 Factor Authentication will be applicable for all the AEPS services including cash withdrawal transactions and other Aadhaar Banking Services such as fetching mini statements and obtaining balance enquiry, etc.

Although Aadhaar Enabled Payment System is regularly monetized by NPCI, fraudsters misuse these services finding loopholes in it. This latest security measure will ensure leaving no loose end to control frauds while processing AEPS transactions & payments.

Struggling with how to set up this authentication process in Dogma Soft’s Retailer Panel? Continue reading & find the steps below.

Steps to Set-up 2 Factor Authentication in AEPS:

To keep retailers using Aadhaar Banking Services seamlessly, Dogma Soft Limited has made this 2 Factors Authentication Process extremely simple so that every merchant can do it without facing any issues.

Following the guidelines of NPCI, this process is basically divided into two parts. The first one is One Time Registration Process and the second one is Daily Authenticating using Biometric Verification of the merchant.

Quick Tip: Want to complete this process instantly? Watch this exclusive video guide featuring the quick steps to Set up AEPS 2 Factor Authentication (2FA) in Dogma Panel.

So, let’s understand this process, one step at a time.

Steps of One-Time Registration Process for Fino/NSDL AEPS Service:

• Step 1: First of all uninstall the application of Dogma Soft installed in your phone and install the updated application.
• Step 2: Allow App Permissions and log in with your User ID & Password.
• Step 3: Click on “Fino/NSDL AEPS Service”.
• Step 4: Click on “Proceed with New Module”.
• Step 5: Once the details are auto-submitted, select your fingerprint scanner device from the list and after reading the checkbox carefully, select it & click on Submit.
• Step 6: Complete Biometric Verification through your Fingerprint Impressions.

Daily Merchant Login Process:

Once you successfully follow the above-mentioned steps, the biometric registration process will get completed. Now whenever you will sign in to the portal first time in the day, it will ask you to verify your merchant identity through biometric login verification. You can easily do it by providing your biometric impressions through any authorized fingerprint scanner device.

Why Two Factor Authentication?

Aadhaar Banking Services have been introduced with the noble aim of enhancing financial inclusivity for the masses. However, the potential threat of cybercrimes and fraudulent activities poses a significant risk, emphasizing the need for an augmented security framework. This innovative security mechanism is designed to seamlessly safeguard consumers, ensuring their uninterrupted and effortless distribution of these services.

The introduction of AEPS Two-Factor Authentication (2FA) comes up with an array of compelling advantages, solidifying its pivotal role in this domain:

– Establishing an additional layer of security, fortifying the defense against potential breaches.

– Validating the authorized identity of merchants, offering a seal of trust and authenticity.

– Effectively minimizing the risk of fraud during AEPS Payments and Transactions, thereby enhancing the overall security posture.

– Cultivating a heightened sense of trust and reliability among consumers, further fostering their confidence in the system.

In light of these multifaceted benefits, Two-Factor Authentication emerges as an efficacious solution to combat the rising tide of financial frauds that contaminate our contemporary financial landscape.

Conclusion:

In the fintech industry, the safety of consumers’ data & financial information is key-pillar, compromising which, can lead to severe consequences. With the implementation of this newer protocol, both retailers & merchants can have a safer Aadhaar Banking journey.

With this blog, we learned how you can easily set up AEPS Two-Factor Authentication within no time. Hope it helps and ends up all your confusion.

Haven’t become an AEPS franchisee yet? Just contact Dogma Soft today and join our vast network of retailers & merchants offering Aadhaar Banking Services while making a handsome amount of income with the highest commission in the market.