About AEPS!!!

. Aadhaar Enabled Payment System (AEPS) is a payment service that allows a bank customer to use Aadhaar as his/her identity to access his/her Aadhaar enabled bank account and perform basic operation related to bank account.
Aadhaar enabled payment System (aeps) is a fee device based totally at the particular identification variety (uid) that lets in aadhaar cardholders to perform economic transactions with no trouble using aadhaar-primarily based authentication. Thru aadhaar, the aeps system intends to empower all regions of society by using making financial and banking services available to all. Aeps is an aadhaar-enabled payment machine that permits you to transfer monies, make bills, deposit coins, make withdrawals, and take a look at your financial institution stability, among different things. Permit's realize extra about aeps in this article.

Important of Using AEPS!!!

AEPS aims is to build a strong foundation for a whole variety of Aadhaar empowered Banking services with several benefits and they can be summarized as below.

Customers can use their aadhaar range to make payments on the point of sale (pos) or micro-atms by way of giving aadhaar authentication. That is a straightforward, at ease, and user-friendly platform for economic transactions.
Except for monetary transfers, which should be achieved at a selected financial institution bc, all different transactions may be achieved at any bank bc.
Using AEPS, bank account holders will be in a position to access their accounts in banks through Aadhaar authentication
AEPS supports UIDAI, which serves as the centralised authority for aadhar, has teamed up with the reserve financi and create a platform on the way to allow marginalised humans to advantage relaxed access to banking through micro-atms the use of aadhaar authentication.
AEPS eases the payments of many Government schemes like Social Security pension, NREGA Handicapped Old Age Pension, etc. of Central Government or State Government bodies by way of Aadhaar authentication

Various Services Provided by AEPS

Cash Deposit
Payment Transactions (C2B and C2G Transactions)
Balance Inquiry
Cash Withdrawal
Aadhaar to Aadhaar Funds Transfer
A brief statement

Main Goal of AEPS

To allow indian banks to course inter-bank transactions triggered by using aadhar through a valuable switching and clearing employer.
To lay a solid foundation for a complete set of aadhar-enabled financial offerings.
To assist the rbi acquire its purpose of seamless e-commerce fee, the financial institution mounted no limit to aeps fund switch in rbi.
To make records exchanging among banks as safe and relaxed as feasible.
To make a contribution to the authorities of india's and the reserve financial institution of india's (rbi) goal of selling financial inclusion.
To make the government of india entitlements such as social protection pension, handicapped vintage age pension schemes, mahatma gandhi country wide rural employment assure act 2005 (mgnrega), and others greater reachable to each primary and kingdom government entities through aadhar and authentication by means of the uidai. It's also available to beneficiaries.

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AEPS : AADHAAR ENABLE PAYMENT SYSTEM

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About AEPS!!!

Important of Using AEPS!!!

Various Services Provided by AEPS

Main Goal of AEPS

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