AEPS -( Aadhaar Enabled Payment Systems )

Aadhaar Enabled Payment system is a bank-led model created by the National Payments Corporation of India (NPCI) that allows the customers to use Aadhaar as an identity to do the financial transactions which work at the POS (Point of Sale) through UIDAI or Aadhaar authentication of the customer.

The Aadhaar cash withdrawal service allows people to withdraw cash from their bank account without going to any bank. Now one can easily go to the nearby retailer shop and withdraw cash just by providing an Aadhaar number, bank name, and fingerprint verification.

Benefits of AEPS: –

• The account holder can do both, financial and non-financial transactions with the help of an banking correspondent.
• There is no requirement of a signature on your debit card.
• It is a completely safe and secure process as AEPS transactions require the account holder’s fingerprint.
• It increases the reach to rural areas as banking executives can now reach distant rural places with micro POS machines.
• The process is easy-to-use for individuals who are not tech-savvy.

Transactions through AEPS: –

Aadhaar Enabled Payment System (AEPS) – The following services are offered by AEPS : 

AEPS India offers easy cash withdrawal services with AEPS solutions, Now depositing cash to bank account is easy, no need to go long walk to your bank, All you need to provide is your Aadhar number, bank name and thumb/finger impression not only that this facility is not limited to bank our only, you can do transactions anytime.