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
- 1-2 minutes post Aadhaar seeding
What is required for Transaction:
- Remember Aadhaar
- Give Bank name
- Present self (Aadhaar holder) with Bio-metrics (Finger and/or IRIS)
- Assisted mode
- NIL to customer
- Merchant or BC may get charged or paid based on bank‘s discretion
Disclaimer: The transaction costs are based on available information and may vary based on banks.
- 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.
Disclaimer: The funds transfer limits are based on available information and may vary based on banks.
Service Available from no. of operators:
- 118 banks