AEPS is a bank-led model which enables online interoperable Financial Inclusion(FI) transaction through the Business correspondent of any bank using the Aadhaar authentication.
Aadhaar enabled Payment System (AEPS) is a safe payment method implemented by the National Payments Corporation of India (NPCI) that allows Aadhaar connected bank account holders to avail necessary banking services such as balance enquiry & cash withdrawal. Customers simply need to tell Eportal Merchant their 12-digit Aadhaar number and Aadhaar linked Bank name. Fingerprint authorization is done using a biometric device to avail of service.
Benefits as an Agent:
- Becoming Eportal agent is a profitable business opportunity.
- Eportal agents can register for AePS service to change their shop into a small ATM.
- A long term business association.
- Big profits from smaller investments.
Benefits as an Customer:
- Provide cardless cash withdrawals through Aadhaar authentication.
- An easy and safe way for balance enquiryand cash withdrawal service.
- Which ever bank account owner or consumer can access banking services by easily identifying their identity with the help of biometrics and Aadhaar numbers without having to remember anything else.
- Cash Withdrawal.
- Balance Enquiry.
- Transaction Status.
How to use?
- Visit an EPORTAL outlet which is in your area. (Even if you don’t remember your bank account number can do transactions through AEPS).
- Provide the necessary details like 12-digit Aadhaar number & Bank name to the EPORTAL.
- Select Service - cash withdrawal or balance enquiry.
- Enter the amount of the transaction (as appropriate).
- Validate the transaction using biometric (fingerprint).
- The transaction is completed in seconds and a notification is sent to the customer registered mobile number.