Aadhaar enabled payment system (AEPS) is a bank-led model that permits money transactions through your Aadhaar card. It needs Aadhaar based verification and a unique identification number to initiate and complete the fund transaction with ease. The main motto to introduce AEPS gateway is to promote a cashless economy and provide financial services to all the segments of the society through Aadhaar. Through this payment system, one doesn’t have to carry the documents like bank details or ATM cards. AEPS SDK is a simple and secure cash withdrawal system created by NPCI.
AEPS gateway is created by the National payment corporation of India (NPCI) with an aim to make the life of people simple and easy so, they can make financial transactions without sharing their confidential data with anyone. It is a way to promote a cashless economy and empower all sections of society. Many AEPS Portal is offering AEPS Gateway in rural areas. Through this system, one can make interbank and intra bank fund transfer. Do hassle-free purchasing from any shops through your Aadhaar card. The transaction can be done easily through AEPS Admin Portal and using a biometric scanner system. These transactions are safe &easy to use. Because it needs biometric authentication through your fingers/iris.
You don’t have to show other documents apart from the Aadhaar card. Only a finger impression will be required. Aeps is a big step towards a cashless society.
How to avail AEPS service?
If anyone wants to do an AEPS SDK transaction then, they can contact the nearby local retailers or banking correspondent to make Aadhaar based payments. Many iServeU retailers and agents are offering AEPS SDK to their customers through AEPS Portal.
How to use AEPS
Aeps registration process at iServeU AEPS Portal
Step1: Visit the banking correspondent in your zone or any retailer using AEPS Admin Portal providing the services.
Step2: Provide your 12-digit Aadhaar number to the retailer using AEPS Admin Portals o they can enter it at the POS (Point of sale) machine.
Step3: Choose the type of transaction i.e. cash withdrawal, balance inquiry, or mini statement.
Step4: Choose the name of your bank
Step5: Tell the retailer using the iServeU AEPS Portal or agent to enter the amount you want to withdraw.
Cash transaction limit of AEPS
The cash transaction limit of AEPS per day is Rs.10,000 that you can get from any iServeU AEPS Portal. RBI has not set any limit for cash transactions via AEPS SDK but different banks have different cash transaction limit per day.
What are the charges for AEPS?
There are no charges for using AEPS. The banking or business correspondent may charge UIDAI a very minimal fee. According to NPCI, the charges are between 15paise to 25paise for the instant settlement.
The Key features of AEPS Transaction:
In AEPS Transaction, no OTP or PIN is required to make any transactions, all you need to do is link your Aadhaar number with your bank account and provide a 12-digit Aadhaar number to the agent. The total number of transactions is 10 times per month.
Do you want to avail Aadhaar enabled payment services? iServeU is the right place to contact for all types of financial solutions. iServeU is a leading AEPS Service Provider and a business correspondent that offers AEPS Gateway to perform safe and easy financial transactions. iServeU has its own AEPS Admin Portal to provide Aadhaar payment and has 25,000 agents, providing AEPS services in rural areas.
Avail Aadhaar payments through iServeU AEPS Portal. You can also make your shop a micro ATM booth and get a good amount as commission. If you are unable to go to the banks or want to contact the nearby retailers, then many agents are using iServeU AEPS software for cash withdrawal. You can avail iServeU services round the clock and 365 days. For more info, call on +91 8338088000 or mail your query to email@example.com.