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Aadhaar Enabled Payment System (AEPS)

To boost financial inclusion, RBI formed working groups to establish MicroATM standards and infrastructure for Aadhaar-based transactions, involving key stakeholders like UIDAI, NPCI, and banks.

The MicroATM and connectivity group submitted a report to RBI, recommending a Proof of Concept (PoC) to test Aadhaar-based transactions, which was successfully demonstrated. AePS (Aadhaar-enabled Payment System) is a bank-led model allowing interoperable transactions at PoS (MicroATM) using Aadhaar authentication through business correspondents. AePS supports six types of financial transactions.

AEPS

Key Features

  • Cash Withdrawal
  • Cash Deposit
  • Balance Enquiry
  • Aadhaar to Aadhaar Fund Transfer
  • Mini Statement
  • Best Finger Detection