AEPS Service

AePS Transaction: For AePS transactions, you can use a Micro ATM or a POS machine. You will be able to withdraw cash from such machines up to 5 times a day, and for AEPS transactions, you will not be required to provide your bank account number; instead, your fingerprint will suffice.

As a result, AEPS transactions are currently free of charge.

A banking correspondent or financial institution will need the following hardware components and information to provide a customer with a variety of banking and finance services via the Aadhaar enabled Payment System (AePS): The STQC/Aadhaar Certified fingerprint or iris reader is supported by the Biometric Micro-ATM.

Aadhaar Enabled Payment System (AEPS) is an acronym for Aadhaar Enabled Payment System. It is a new era of payment transactions in which a bank customer can use the Aadhaar card to access basic banking services. A bank customer's bank account must be linked to their Aadhaar card to access the AEPS service.

AePS is a bank-led concept that enables online interoperable financial inclusion transactions at the point of sale (MicroATM) via any bank's business correspondent utilising Aadhaar verification.