Digital India: Aadhaar Enabled Payment System explained

Описание: AEPS is a bank led model which allows online interoperable financial inclusion transaction at PoS (MicroATM) through the Business correspondent of any bank using the Aadhaar authentication.

The four Aadhaar enabled basic types of banking transactions are as follows:-

1. Balance Enquiry
2. Cash Withdrawal
3. Cash Deposit
4. Aadhaar to Aadhaar Funds Transfer

The only inputs required for a customer to do a transaction under this scenario are:-

1. IIN (Identifying the Bank to which the customer is associated)
2. Aadhaar Number
3. Fingerprint captured during their enrollment