AEPS-AADHAAR ENABLED PAYMENT SYSTEM
Aadhaar Enabled Payment System (AEPS) is a payment service that allows a bank customer to use Aadhaar as his/her identity to access his/her Aadhaar enabled bank account and perform basic banking transactions like balance enquiry, cash withdrawal, remittances through a Business Correspondent.
Below are the services available under Aeps:
i. Cash Withdrawal
ii. Balance Enquiry
iii. Mini Statement
The customer looking to avail AEPS should mandatorily:
a. Have a Bank Account with a Bank participating in AEPS
b. His / Her Aadhaar should be linked to his/her Bank account with other Bank.
c. Transaction is completed using his/her biometric authentication only.