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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.
• Aadhaar-based Transactions
• Interoperability
• Basic Banking Services
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.
Cash Withdrawal
Cash Deposit
Balance Inquiry
Mini Statement
Fund Transfer
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.
Bank branches
Business correspondents (BCs)
Micro-ATMs
Banking kiosks
Retail stores providing services
Yes, your Aadhaar number must be linked to your bank account to use AEPS services.
AEPS is highly secure as it uses biometric authentication (fingerprint or iris scan) for transactions, which significantly reduces the risk of fraud.