AEPS is a bank led model which allows online interoperable financial transaction at PoS (Point of Sale / Micro ATM) through the Business Correspondent (BC)/Bank Mitra of any bank using the Aadhaar authentication.
एईपीएस एक बैंक आधारित मॉडल है जो आधार प्रमाणीकरण का उपयोग करके किसी भी बैंक के बिजनेस कॉरेस्पोंडेंट (बीसी)/बैंक मित्र के माध्यम से पीओएस (प्वाइंट ऑफ सेल/माइक्रो एटीएम) पर ऑनलाइन इंटरऑपरेबल वित्तीय लेनदेन की अनुमति देता है।
The AEPS system aims to empower all sections of society by making financial and banking services available to all through Aadhaar. AEPS is nothing but an Aadhaar-enabled payment system through which you can transfer funds, make payments, deposit cash, make withdrawals, and make inquiries about bank balances.
AEPS allows customers to make payments using their Aadhaar number and by providing Aadhaar verification at point of Sale (PoS) or micro ATMs . This is a simple, secure, and user-friendly platform for financial transactions. This is another initiative taken by the National Payments Corporation of India (NPCI) to encourage cashless transactions in India. Customers can perform all transactions through a business correspondent (BC) or bank agent through a micro ATM. Except for fund transfers, where you must go to the specific bank BC, for other transactions, you can use any bank BC. To use AEPS, your bank account must be linked to Aadhaar.
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.
