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Aadhaar Enabled Payment System (AEPS)
AEPS is a new payment service offered by the National Payments Corporation of India to banks, Financial Institutions using 'AADHAAR'. AEPS stands for 'AADHAAR Enabled Payment System'. AADHAAR Enabled Payment System (AEPS) is a bank led model, which allows online financial inclusion transaction at Micro-ATM through the Business correspondent of any bank using the AADHAAR authentication. This system is designed to handle both ONUS and OFFUS requests seamlessly in an effective way by enabling authentication gateway for all AADHAAR linked account holders.
Benefits of AePS
Easy cash withdrwal with just thumb impressions.
AEPS empowers an agent/retailer to become a Micro ATM.
Customers dont need to stand in long bank queues to avail banking services.
AePS Micro ATM can be set up at a very small cost with a portable device.
Easy to carry, easy to setup anywhere in the remote area.
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