AADHAAR ENABLED PAYMENT SYSTEM FOR BANKING TRANSACTIONS

AADHAAR Enabled Payment System is a payment service empowering a bank customer to use basic financial services (cash deposit, balance enquiry, cash withdrawal and remittance) through Aadhaar Number Authentication. AEPS, a new age banking service has been approved by the Reserve Bank of India (RBI). The AEPS allows transactions using biometric authentication identify aadhaar number which is link with corresponding bank account and enables a person to carry out financial transaction on a micro-ATM provided by a banking correspondent. It is a unique and innovative system that allows trader/merchant to collect payment, operate as mini ATM for cash withdrawal, deposits, fund transfer and balance enquiry using Aadhaar Enabled Payment System. We provide you stander AEPS software with Integrated AEPS API solution.

BENEFITS OF AEPS ARE AS FOLLOW : –

The AEPS is empowering a bank customer to use AADHAAR number to access his/her bank account and perform basic banking transactions that are intra-bank or interbank in nature through a business correspondent.

Aadhaar enabled Payment system is secure and easy to use platform to avail benefits by using Aadhaar number & finger prints.

Aadhaar enabled Payment system is based on the Aadhaar number or biometric information of an individual, it eliminates the threat of any fraud and non-genuine activity.

Aadhaar enabled payment system (aeps) allows online interoperable financial inclusion transaction at pos (micro atm) through the business correspondent of any bank using the aadhaar authentication.