AEPS is a bank led model which allows online interoperable financial transaction at PoS (Point of Sale / Micro ATM) through the Business Correspondent (BC)/Bank Mitra of any bank using the Aadhaar authentication.
How to get it:
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Provide KYC (Know Your Customer) information to open a new account
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Aadhaar Number should be linked with bank a/c
Service Activation:
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None
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1-2 minutes post Aadhaar seeding
What is required for Transaction:
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MicroATM
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Remember Aadhaar
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Give Bank name
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Present self (Aadhaar holder) with Bio-metrics (Finger and/or IRIS)
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Assisted mode
Transaction Cost:
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NIL to customer
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Merchant or BC may get charged or paid based on bank‘s discretion
Disclaimer: The transaction costs are based on available information and may vary based on banks.
Services Offered:
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Balance Enquiry
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Cash Withdrawal
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Cash Deposit
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Aadhaar to Aadhaar funds transfer
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Payment Transactions (C2B, C2G Transactions)
Funds Transfer limit:
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Banks define limit. No limit for RBI.
Disclaimer: The funds transfer limits are based on available information and may vary based on banks.
Service Available from no. of operators: