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What Is Aadhaar Enabled Payment System (AePS)

AePS is a bank led model which allows online interoperable financial inclusion transaction at PoS (MicroATM) through the Business correspondent of any bank using the Aadhaar authentication. AePS allows you to do six types of transactions.

What is the meaning of AePS?
AEPS stands for ‘Aadhaar Enabled Payment System‘. Q) How does AEPS work? Aadhaar Enabled Payment System (AEPS) is a bank led model, which allows online financial inclusion transaction at Micro-ATM through the Business correspondent of any bank using the Aadhaar authentication.
What’s the benefits of AePS?
The AEPS system aims to empower all sections of the society by making financial and banking services available to all through Aadhaar. AEPS is nothing but an Aadhaar-enabled payment system through which you can transfer funds, make payments, deposit cash, make withdrawals, make enquiry about bank balance, etc.
What is AePS limit?
Rs 10,000 per transaction
AePS transactions
Cash withdrawal from micro ATMs of AePS has a limit of Rs 10,000 per transaction. Transactions via AePS

How do I get an AePS service?

Become an Aadhaar Enabled Payment System (AePS) Service Provider. To become an AePS agent with Multipe Services Private Limited app, the process is very straightforward and easy. Simply download the app and register yourself as a MULTIPE merchant, and complete the AePS agent registration to get started
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How to withdraw money Aadhar Card?

Go to the AePS segment, and select service out of the options available.
Fill in the required fields with details of the Aadhaar linked bank account and account holder details.
Click on ‘Capture Fingerprint’ to authenticate the transaction

Which is best Aeps app in India?

Aadhaar enabled payment system app or AEPS pay is the best tool for cashless banking and financial transaction in 2020. AEPS pay is an android based mobile application which uses AEPS e-KYC service

Aadhaar ATM

Who could have thought, a few years back, that your Aadhar could be used as a medium for withdrawing money from your nearby Kirana stores! Now with the Pay1 merchant app, you can help your customers perform basic bank transactions like withdrawal and deposit. These transactions can be easily done with the help of a safe and secure biometric scanner available at your nearest Pay1 retailer outlet.

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