What is 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.

What is difference between Aadhaar pay and Aeps?

BHIM Aadhaar Pay is a merchant app that can be used to receive payments from customers digitally. AePS allows consumers without smartphones or debit cards to withdraw or transfer funds and check account balances using biometric authentication through microATMs.

What is Aeps transaction purpose?

The primary objective of AEPS is to make access to services like cash deposit and cash withdrawal, or making a payment less complex and more fast and secure. AEPS eliminates the traditional use of cards to complete a transaction.

What are Aadhar enabled services?

Aadhaar Enabled Service Delivery is the usage of the Aadhaar identity platform to identify and authenticate residents for delivery of benefits/services by various government or private agencies. “It is our aim that every resident should have an Aadhaar number.

How do I register for Aeps service?

All you need to do is present your PAN Card and Aadhaar Card and fill the Aadhaar Enabled Payment System AEPS registration form. Any business partner can do AEPS registration online with a simple documentation process.

How does Aadhaar card payments work?

Aadhaar Pay is a payment system which allows merchants to collect payments from a customer using his Aadhaar number and biometric authentication. The Aadhaar seeded account of the customer gets debited and merchant account gets credited.

What is required for AePS?

The major requirements to carry out an AEPS transactions are: Aadhaar Number. Fingerprint. Name or Bank IIN(Issuer Identification Number)

Which app is good for Aeps?

With BANKIT Portal and Aadhar Card Money Withdrawal App enables retailers and agents easy AePS login and help customers to withdraw money using biometric verification only. With AePS Portal you can help customers enjoy mini statement services with AePS balance enquiry service.