AEPS - Aadhaar Enabled Payment System

Aadhaar Enabled Payment System (AEPS) is a type of payment system that is based on the Unique Identification Number and allows Aadhaar card holders to seamlessly make financial transactions through Aadhaar-based authentication. The AEPS banking service aims to empower all sections of the society by making financial and banking services available to all through Aadhaar.

Services Offered by AEPS Banking Service:

Cash Deposit.

Payment Transactions (C2B, C2G Transactions).

Balance Enquiry.

Cash Withdrawal.

Aadhaar to Aadhaar funds transfer.

Features & Benefits of AEPS Banking Service:

Easy to use

Safe and secure payment method

Interoperable across various banks

Through AEPS, all bank account holders will be able to access their bank accounts through Aadhaar authentication. With AEPS, the only information required to initiate a transaction is Aadhaar number and biometric information. AEPS facilitates disbursements of Government schemes like NREGA, Social Security pension, Handicapped Old Age Pension etc. of any Central or State Government bodies using Aadhaar authentication.

How to use AEPS?

Step 1: Go to a micro ATM or banking correspondent

Step 2: Provide Aadhaar number and bank name

Step 3: Choose the type of transaction you want to make

Step 4: Provide verification through fingerprint/iris scan

Step 5: Collect your receipt

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