Abstract
Aadhaar enabled payment system (AEPS) is a type of payment system that is based on the unique identification number and allows Aadhaar card holder seamlessly make financial transaction through Aadhaar based authentication. The AEPS framework expects to enable all the areas of society by making monetary and banking administrations accessible to all the Aadhaar. AEPS is context through one can make fund transfer, make disbursement, make cash deposit, make extractions, make request for information about bank balance etc.
Highlights
Aadhaar Enabled Payment System or Aadhaar enabled payment system (AEPS) is another payment management presented by the National Payments Corporation of India to banks and money related foundations utilizing 'Aadhaar'
This administration can be profited at Customer Access Points (CSPs) oversaw by Business Correspondents (BCs) utilizing Point of Sale (POS) gadgets
AEPS benefits across India through its delegated BCs who use Micro ATM, PoS machines
Summary
Aadhaar Enabled Payment System or AEPS is another payment management presented by the National Payments Corporation of India to banks and money related foundations utilizing 'Aadhaar'. Aadhaar is a special distinguishing proof number gave by Unique Identification Authority of India (UIDAI). This administration can be profited at Customer Access Points (CSPs) oversaw by Business Correspondents (BCs) utilizing Point of Sale (POS) gadgets. An AEPS is a bank determined model which licenses online interoperable cash related thought trade at PoS (Micro ATM) through the Business correspondent of any bank using the Aadhaar validation. AEPS licenses you to finish six sorts of trades This organization draws in a bank customer to use Aadhaar as his/her character to get to his/her individual Aadhaar engaged money related adjust and perform crucial intrabank or interbank trades, including – checking balance, depositing cash, Withdrawal of cash and Settlements. IIN (Identifying the Bank to which the customer is connected) Aadhaar Number Unique mark caught during their selection
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