AEPS

Overview

AEPS is an interoperable banking service under the NPCI framework that enables customers with Aadhaar-enabled bank accounts to access specified banking services using Aadhaar-based authentication. The service can be provided through participating branches and Business Correspondents, supporting customers who may have limited access to conventional banking channels.

Features & Benefits

Accounts can be opened with e-KYC (Electronic Know Your Customer).

Aadhaar enabled Payment System facilitates disbursements of Government entitlements like MGNREGA, Social Security pension, Aid for handicapped, Old Age Pension etc. of any Central or State Government bodies, using Aadhaar authentication.

Old Age Pension is directly disbursed at the doorsteps of beneficiaries through Banking Correspondents.

How it works?

AEPS is a payment service empowering a bank customer to use Aadhaar as his / her identity to access his / her respective Aadhaar enabled bank account to perform transactions upto ₹10,000/- like:

Balance enquiry

Cash deposit

Cash withdrawal

Aadhaar to Aadhaar Fund Transfer through a Business Correspondent