Aadhaar Enabled Payment System
Aadhaar Enabled Payment System is a payment service Legitimize a bank customer to use basic financial services (cash deposit, balance enquiry, cash withdrawal, and remittance) through Aadhaar Number Authentication. Aadhaar Enabled Payment System, a new age banking service has been approved by the Reserve Bank of India (RBI). The AEPS allows transactions using biometric authentication to identify aadhaar number which is the link with an analogous bank account and enables a person to carry out financial transactions on a micro-ATM provided by a banking correspondent. It’s an exclusive & original system that alloweffis trader/merchant to collect a payment, operate as mini ATM for cash withdrawal, fund transfer, deposits and balance enquiry using Aadhaar Enabled Payment System Services.
- Financial and non-financial transactions using Aadhaar data linked to bank accounts.
- Withdrawal of money from any bank.
- A card-less transaction using only biometric authentication.
- Fast and secure transaction.
- Biometric-based authentication system.