AEPS

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AEPS API

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AEPS ID

AEPS is a bank led model which allows online interoperable financial transaction at PoS (Point of Sale / Micro ATM) through the Business Correspondent (BC)/Bank Mitra of any bank using the Aadhaar authentication.

How to get it:

  • Provide KYC (Know Your Customer) information to open a new account
  • Aadhaar Number should be linked with bank a/c

Service Activation:

  • None
  • 1-2 minutes post Aadhaar seeding

What is required for Transaction:

  • MicroATM
  • Remember Aadhaar
  • Give Bank name
  • Present self (Aadhaar holder) with Bio-metrics (Finger and/or IRIS)
  • Assisted mode

Transaction Cost:

  • NIL to customer
  • Merchant or BC may get charged or paid based on bank‘s discretion

AdharServices Offered:

  • Balance Enquiry
  • Cash Withdrawal
  • Cash Deposit
  • Aadhaar to Aadhaar funds transfer
  • Payment Transactions
Objectives
  • To empower a bank customer to use Aadhaar as his/her identity to access his/ her respective Aadhaar enabled bank account and perform basic banking transactions like cash deposit, cash withdrawal, Intrabank or interbank fund transfer, balance enquiry and obtain a mini statement through a Business Correspondent
  • To sub-serve the goal of Government of India (GoI) and Reserve Bank of India (RBI) in furthering Financial Inclusion.
  • To sub-serve the goal of RBI in electronification of retail payments.
  • To enable banks to route the Aadhaar initiated interbank transactions through a central switching and clearing agency.
  • To facilitate disbursements of Government entitlements like NREGA, Social Security pension, Handicapped Old Age Pension etc. of any Central or State Government bodies, using Aadhaar and authentication thereof as supported by UIDAI.
  • To facilitate inter-operability across banks in a safe and secured manner.
  • To build the foundation for a full range of Aadhaar enabled Banking services.