Services Offered by AePS
- Cash Withdrawal
- Cash Deposit
- Balance Enquiry
- Aadhaar to Aadhaar Fund Transfer
- Make Payment
Requirements for AePS
Through the Aadhaar Enabled Payment System, you can withdrawal money without producing any card.
However, your Aadhaar number should be registered with your banking account. If you have not linked
your Aadhaar with your bank account then you won't able to get benefit from Aadhaar Enabled Payment
System (AEPS).
For Aadhaar Enabled Payment System (AEPS) transactions, you will need the following details.
- Aadhaar Number (12 dight)
- Bank Name
- Biometric authentication
Benefits of AePS
- Easy to use.
- It is fast and secure. No one can forge your fingerprint.
- There is no need of signature, debit card or OTP.
- You can make payment, cash deposit, get the mini statement and check your bank balance.
- Encourages financial inclusion and serves the underbanked sections of society
- Shopkeepers can also use AEPS to take payments.
- With AEPS, the only information required to initiate a transaction is Aadhaar number and
biometric information.
How AePS Works
It is surprising that only through the Aadhaar number you can access your bank account. But it is
possible then when your Aadhaar number is linked to your bank account otherwise not possible to access
your bank account. This linking leads you to your bank account.
The fingerprint is authenticated by The Unique Identification Authority of India
(
UIDAI). In response to a transaction, UIDAI tells to the bank about the authenticity
of the user. Once, UIDAI authenticates, the bank gives a green signal to the transaction.
Aadhaar Enabled Payment System
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