Digital India: All you need to know about Aadhaar Enabled Payment System (AEPS)

Описание к видео Digital India: All you need to know about Aadhaar Enabled Payment System (AEPS)

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

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