AEPS API

Aadhaar enabled payment system (AEPS) is a new payment system that is basically based on a Aadhaar card number and enables customers for cashless transactions. AEPS helps customers to perform basic banking transactions including fund transfer, cash deposit, cash withdrawal, balance inquiry, and mini statement. This was the first initiative towards a cashless society by the Indian government.

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AEPS API SELLING

An aadhaar card shows your unique identity and verifies your fingerprint impression which works as a pin. There is no need to remember any pin code like in the case of debit or credit cards. So this was a brief about AEPS, Let’s discuss it in more detail. Keep reading for interesting knowledge about AEPS which can be your upcoming business start-up idea.

AEPS facilitate us to perform basic bank transactions without visiting any ATM or bank. All you need is your Aadhaar card linked with your respective bank account.

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How to Use Aadhaar Enabled Payment System (AEPS)

There is zero technical knowledge needed to use the AEPS service. Any individual who wishes to start his/her own AEPS portal can use AEPS easily.

These are few simple steps that are used for any basic bank transaction. AEPS is a simple, user-friendly, and secure portal that makes banking more reliable. Do you know how really this system works, surely this question might be hitting your mind. Let’s elaborate on this topic.

Visit any micro ATM or any bank correspondent (BC) who are providing AEPS service.
Provide your Aadhaar card number
Select bank name
Choose the transaction type
Scan your finger on fingerprint scanner attached to the device
After successful authentication, your transaction will be completed
You will receive transaction slip on every transaction

Whenever any customer visits a micro ATM or any Business correspondent (BC) or AEPS service provider, he/she provide a unique identification number and bank name. Then he scans his finger on the fingerprint scanner for authentication. After that BC shares these details with NPCI (National Payments Corporation of India)..

They check the ID and UIDAI (Unique Identification Authority of India) to confirm the customer identity. Funds of connected accounts are also checked. Now the action is performed. This is the root process of Aadhaar Enabled Payment System (AEPS).

AEPS SERVICES

Which Services are Provided in Aadhaar Enabled Payment System (AEPS)?

Cash Deposit

You can hand over your cash to your nearest AEPS service provider and the cash will automatically get deposit in your bank account. Select Cash deposit as transaction type and enter the amount after selecting the bank. Your cash will automatically get deposit in the bank.

Cash Withdrawal

By using the AEPS service you can withdrawal the amount directly from any of your bank accounts by using an Aadhaar card and fingerprint authentication. Most of the population using AEPS service to withdrawal cash in rural areas. Today this is the easiest way for cashless transactions via an Aadhaar card which makes it more favorable. You can withdrawal up to 10,000 per day via a 5 transaction limit.

Balance Enquiry

Now you can check your account balance details by visiting your nearest BC (business correspondent). To check the balance inquiry, you need your Aadhaar card and bank name. You can check account balance details just in 3 steps by using the AEPS service.

AEPS Payout

Funds can be transferred from the AEPS wallet to the respective bank account only. This feature is available only during office hours. This feature also provides AEPS real-time settlement for retailers or any other AEPS service provider. These are all actions that you can perform through this Aadhaar enabled payment system (AEPS) service.

AADHAR PAY

Aadhaar Pay services allow bank customers to withdrawal cash more than 10,000/- rupees in a day or we can say as highest withdrawal limit set by your bank. This is the most trending service today using for cash withdrawal in AEPS.

MICRO ATM

This is last but not the least. By using a micro ATM, a bank customer can withdrawal cash using a debit card. This is an electronic machine, integrated with biometric. You can swipe your debit card and can use fingerprints as authentication for transactions.

MINI STATEMENT

This is the latest service launched by NPCI in which you can check your account mini statement details easily. You can export your last transactions details by using an Aadhaar card through the AEPS service.

Features of Aadhaar Enabled Payment System (AEPS) :-

Now we know what this AEPS service is, how can we use it and how it works? Here we will learn about the main feature and benefits of Aadhaar enabled payment system (AEPS) which makes it so reliable.

Firstly, AEPS is very simple to use.

This is safe and secure process.

3D code verification and OTP system integration.

Interoperable across multiple banks.

Secure payment gateway by integrated API.

Every account has unique identity which makes it reliable.

We Instantly resolve customers complain through the Ticket method.

Fully customized AEPS portal (Change whenever you want).

It is based on latest technology which fulfill all business needs.

Master API switching facility.

Its login and logout is the best security feature.

Now Admin can assign number of member IDs to their down line through Member Plan feature.

Admin can assign work and active features for employees through the employment management system.

Admin can assign work and active features for employees through the employment management system.

You only required unique Aadhaar card number and biometric identification to perform an action.

So basically these are the top security features of Aadhaar enabled payment system (AEPS) which makes it safe, secure, and user-friendly for customers.

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