Aadhaar Enabled Payment Services (AEPS) is a bank-led initiative that enables customers to perform basic banking transactions using Aadhaar-based biometric authentication. This service is designed to promote financial inclusion by providing easy access to banking services without the need to visit a physical bank branch. Through AEPS, customers can access their bank accounts using Aadhaar credentials at authorized service points operated by agents or merchants. Transactions are processed securely using biometric verification, ensuring accuracy and safety.
Services Offered Under AEPS
- Cash withdrawal
- Balance enquiry
- Mini statement
Who Benefits
- Customers in rural and semi-urban areas
- Individuals with limited access to bank branches
- Agents and retailers offering banking services
Business Benefits
- Increased customer footfall
- Additional commission-based income
- Contribution to financial inclusion
Frequently asked questions
AEPS allows customers to perform basic banking transactions such as cash withdrawal, balance enquiry, and mini statement using Aadhaar-based biometric authentication.