AEPS Agent Registration: A Comprehensive Guide
Tips for AePS Agents to Avoid Fraudulent Activities AePS, also known as the Aadhaar-enabled Payments System, is a digital payment system that promotes financial inclusion in India. This system allows Aadhaar card holders to make payments using their linked bank account, provided they have the necessary requirements to complete the transaction. It is a user-friendly payment method similar to a credit or debit card. The National Payments Corporation of India developed AePS to enable transactions on micro ATMs or PoS machines by authenticating the biometric information of the Aadhaar card holder. Understanding the Functionality of AePS The functioning of AePS involves transferring money from one bank account to another by utilizing an Aadhaar card linked to the bank account. The user only needs to authenticate themselves through biometric verification, which includes fingerprints and iris. Once the UIDAI attests the fingerprint, the bank can proceed with the transaction. The followi...