AADHAAR ENABLED PAYMENT SYSTEM (AEPS)

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.

How to get it:-

  • Provide KYC (Know Your Customer) information to open a new account
  • Aadhaar Number should be linked with bank a/c

Service Activation:

  • None
  • 1-2 minutes post Aadhaar seeding

What is required for Transaction:

  • MicroATM
  • Remember Aadhaar
  • Give Bank name
  • Present self (Aadhaar holder) with Bio-metrics (Finger and/or IRIS)
  • Assisted mode

Transaction Cost:

  • NIL to customer
  • Merchant or BC may get charged or paid based on bank‘s discretion

Services Offered:

  • Balance Enquiry
  • Cash Withdrawal
  • Cash Deposit
  • Aadhaar to Aadhaar funds transfer
  • Payment Transactions (C2B, C2G Transactions)

Funds Transfer limit:

  • Banks define limit. No limit for RBI.