88% of wage payments made through Aadhaar Based Payment Bridge System till May

Current Context: Aadhaar Based Payment Bridge System (ABPS), ABPS is a unique payment system implemented by National Payments Corporation of India (NPCI), which uses Aadhaar number as a central key for electronically channelizing the Government subsidies and benefits in the Aadhaar Enabled Bank Accounts (AEBA) of the intended beneficiaries.

• It is a safer and faster way of payment transfer that avoids rejections due to frequent changes in bank account numbers by the beneficiaries.
• ABPS has been in use since 2017 under Mahatma Gandhi NREGS. As of May 2023, about 88% of the wage payment has been made through ABPS.

Question:

Q.1 What is the name of the payment system that uses Aadhaar number for transferring government subsidies and benefits?
a. Aadhaar Payment Bridge System (ABPS)
b. Aadhaar Enabled Payment System (AEPS)
c. Aadhaar Payment Interface (API)
d. Aadhaar Payment Gateway (APG)