Aadhaar Enabled Payment System (AePS), developed by the National Payment Corporation of India (NPCI) to facilitate financial transactions through the Aadhaar number. Individuals having an Aadhaar number linked to a bank account, referred to as an Aadhaar Enabled Bank Account (AEBA), can access the AePS service.
NPCI has mentioned on its website, “AePS is a bank-led model which allows online interoperable financial inclusion transaction at PoS (MicroATM) through the business correspondent of any bank using the Aadhaar authentication.”
What is required from a customer for AePS?
- A bank account details
- Aadhaar number; and
- Fingerprint biometrics
Also read: Know how to file UPI-related complaints with NPCI
Know the banking services offered by AePS
- Cash deposit
- Cash withdrawal
- Balance enquiry
- Mini statement
- Aadhaar to Aadhaar fund transfer
- Authentication; and
- BHIM Aadhaar Pay
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