New Delhi: National Payments Corporation of India (NPCI), the umbrella organization of all retail payment systems in India, in collaboration with the Unique Identification Authority of India (UIDAI) offers “Aadhaar Based Remittance Service (ABRS)” to people having physical Aadhaar. Aadhar Card.
Aadhaar Enabled Payment System or AePS is a bank led model that allows online interoperable financial inclusion transactions over PoS (MicroATM) through Business Correspondent of any bank using Aadhaar authentication. AePS allows you to do six types of transactions
View the list of banking services provided by AePS
cash deposit
cash withdrawal
balance inquiry
mini statement
Aadhaar to Aadhaar Fund Transfer
authentication
on BHIM AADHAAR
Other Services Provided by AEPS:
eKYC
best finger detection
demo authentic
tokenization
Aadhaar Seeding Status
Under this scenario only one input is required for the customer to perform the transaction:-
banks’ name
aadhaar number
Fingerprint captured during enrollment.
Step by step process to transfer money using Aadhaar Enabled Payment Systems (AePs)
Visit your local Banking Correspondent
Enter your Aadhaar number in the POS machine
Select Transaction Type
Enter Bank Name
Enter the amount you have chosen for the transaction
Now, provide your biometrics to confirm the payment
You will get a receipt once your transaction is successful
Aadhaar card holders will not need to remember/make multiple inputs for initiating financial transactions while using the Aadhaar based remittance system. Input just one number i.e. Aadhaar Card, and all your banking needs can be solved. Aadhaar based remittance system can be used for instant transfer of various government benefits.