Instant Aeps
Customer must have a bank account with a bank participating in AePS
Simple Process
Customer Aadhar should be linked to his/her bank account.
Secure Transactions
Transaction is completed using his/her biometric authentication only.
AEPS
Effortless AEPS Service
AEPS Service seamlessly with PocketPay. The only inputs required for a customer to do a transaction under this scenario are:-
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Bank Name
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Aadhaar Number
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Biometrics captured during enrolment
Cash Deposit
Deposit cash into your Aadhaar-linked bank account.
Cash Withdrawal
Withdraw cash from your bank account using Aadhaar authentication.
Balance Enquiry
Check the balance of your bank account.
Mini Statement
Check the balance transactions .
Aadhaar Enabled Payment System (AEPS)
Experience Seamless AEPS
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.
Interoperability
AePS facilitates inter-operability across banks in a safe and secure manner.
Ease of Access
Customer needs to give only biometric identification and a 12-digit unique identification code to initiate a transaction irrespective of (Fin/Non-Fin) transaction.
Safety and secure
AePS is based on the demographic and biometric information of an individual. It eliminates the threat of any fraud and ungenuine activity.
Challenges of AePS
1. Dependency on Aadhaar Linking
Only Aadhaar-linked bank accounts can use this system, potentially excluding some users.
2. Biometric Authentication Issues
Low-quality fingerprints or malfunctioning biometric devices will be an issue.
3. Internet and Infrastructure Reliance
Requires reliable connectivity, which may not always be available in remote areas.
4. Fraud Risks
Though secure, systems can still face targeted attacks or misuse of Aadhaar data.
