AEPS means Aadhaar Enabled Payment System, a replacement payment service offered by the National Payments Corporation of India to banks and financial institutions using ‘Aadhaar’. Aadhaar may be a unique number issued by the Unique Identification Authority of India (UIDAI). In banking AEPS means empowerment where the provider allows a bank customer to use Aadhaar as his/her identity to access his/ her respective Aadhaar enabled checkivng account (AEPS service provider bank) and perform basic intrabank or interbank transactions.
Aadhaar Enabled Payment System is a way to get money from the bank account without your signature or debit cards. Through the Aadhaar Enabled Payment System, customers don't even need to visit a bank branch for getting money.
It is a very easy and simple way to Provide Aeps service.
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