Aadhar Enabled Payment System (AEPS) enables a person to use his biometric to withdraw cash or make payment from his account linked to Aadhar, using his biometrics.
AEPS helps customers withdraw small amounts without visiting ATM or bank, which is a time consuming process.
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Aadhar ATM (AEPS)
Aadhaar Enabled Payment System (AEPS) AEPS is a bank led model which allows online interoperable financial transaction at PoS (Point of Sale / Micro ATM) through the Business Correspondent (BC) of any bank using the Aadhaar authentication.
Understanding AEPS Apps
Aadhaar number is a unique identification number issued by the Unique Identification Authority of India (UIDAI) to citizens of India to avail several benefits. The AePS apps and payment services is a payment service/ system introduced by the National Payments Corporation of India (NPCI) to banks and financial institutions that use ‘Aadhaar’ for their KYC (Know-Your-Customer).
With this system, citizens or customer can carry out commercial and non-financial transactions at BC point through their Aadhaar number, and perform several actions like:
● Aadhaar Card Money Withdrawal
● Cash Deposits
● Balance Inquiry
● Mini Statement
This allows customers to gain easy access to ATM facilities while getting the security of a traditional banking or financial institution. AePS services and systems use fingerprint/IRIS scan for biometric verification, ensuring high security for each transaction.
AEPS services to enable digital payments at your shop
Become an Aadhaar Enabled Payment System (AEPS) Service Provider
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