Aadhaar Enabled Payment System (AEPS full form) is a payment system based on the Unique Identification Number (UID) that allows Aadhaar cardholders to perform financial transactions with ease using Aadhaar-based verification. Through Aadhaar, the AEPS system intends to empower all areas of society by providing banking and financial services accessible to all. AEPS cash withdrawal is an Aadhaar-enabled payment method that allows you to transfer monies, make payments, deposit cash, start withdrawing, and check your bank balance, among other things.

Customers can use their Aadhaar number to make payments at the point of sale (PoS) and micro ATMs by giving Aadhaar authentication. For financial transactions, this is a straightforward, secure, and user-friendly platform. The National Payments Corporation of India (NPCI) has taken yet another step to boost contactless payments in India. All transactions can be completed through a Business Correspondent (BC) or a bank agent using a micro ATM. Except for financial transfers, which must be done at a specific bank BC, all other transactions can be done at any bank BC. Every bank account should be connected to Aadhaar in need to use AEPS.

AEPS Features and Benefits

• Simple to use

• The payment option that is safe and secure

• Interoperable with a variety of banks

• Incentivises financial inclusion & provides services to the unbanked.

• Every bank account holder would be available to connect using Aadhaar authentication via AEPS.

• The Aadhaar number & biometric details are the sole pieces of information needed to start a transaction with AEPS.

• AEPS allows every Central or State Government body to use Aadhaar authentication to expedite disbursements of government programs such as NREGA, State Pension pension, Disabled Old Age Pension, and so on.

How to Make Payments Using Your Aadhaar Number (AEPS)

To utilize the aadhaar enabled payment system, no mechanical experience is required. AEPS can be used by anyone who wants to establish their own AEPS portal.

Let's walk through the steps of using AEPS -

• Pay a visit to any micro ATM or bank correspondents (BC) that offers the aadhar card money withdrawal.

• Please enter the number from your Aadhaar card.

• Choose a bank.

• Select a transaction type.

• Scan one finger on the device's fingerprint sensor.

• Your purchase will be processed after successful authentication.

• Every transaction will be accompanied by a transaction slip.

These are just some easy steps to follow when making a basic bank transaction. The AEPS micro atm is a simple, user-friendly, & secure interface that improves banking security. Do you have any idea how this system works? It is a question that may be on your mind. Let's take a closer look at this subject.

What is the Aadhaar Enabled Payment System (AEPS), and how does it work?

Customers must submit their unique identity number & bank name whenever they visit a micro ATM, a business correspondent (BC), or an AEPS service provider. Before that, know the AEPS micro atm price. Then he uses a fingerprint scanner to authenticate himself. Following that, BC informs NPCI with these details (National Payments Corporation of India).

They verify the customer's identification using the ID and the UIDAI (Unique Identification Authority of India). The funds of any linked accounts are likewise examined. The action has now been completed. This is how the AEPS micro atm service provider works (AEPS).

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