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AEPS System

The Aadhaar Enabled Payment System (AEPS) is a financial inclusion initiative by the Government of India aimed at providing basic banking services to people in remote and rural areas. AEPS leverages the Aadhaar number (a unique 12-digit identification number issued to residents of India) and biometric authentication to enable banking transactions. The working group on MicroATM standards & Central Infrastructure & Connectivity has submitted its report to RBI. As a part of the working group it was proposed to conduct a Lab level Proof of concept (PoC), integrating the authentication & encryption standards of UIDAI, to test the efficacy of MicroATM standards and transactions using Aadhaar before they are put to actual use.

Key Features:

• Aadhaar-based Transactions

• Interoperability

• Basic Banking Services

Frequently Questions

How does AEPS work?

AEPS works by linking the customer’s bank account to their Aadhaar number. To perform a transaction, the customer visits an AEPS service point, provides their Aadhaar number, and authenticates using their biometric data. Upon successful authentication, the transaction is processed.

What transactions can be performed using AEPS?

Cash Withdrawal

Cash Deposit

Balance Inquiry

Mini Statement

Fund Transfer

What are the benefits of using AEPS?

Financial Inclusion: Accessible to remote and rural areas.

Secure Transactions: Uses biometric authentication.

Convenience: No need for physical bank branches.

Interoperability: Transactions across different banks.

Where can I use AEPS services?

Bank branches

Business correspondents (BCs)

Micro-ATMs

Banking kiosks

Retail stores providing services

Do I need to link my Aadhaar to my bank account for AEPS?

Yes, your Aadhaar number must be linked to your bank account to use AEPS services.

How secure is AEPS?

AEPS is highly secure as it uses biometric authentication (fingerprint or iris scan) for transactions, which significantly reduces the risk of fraud.