Aadhaar Enabled Payment System
What is AEPS?
Aadhaar enabled Payment System (AEPS) is a secure payment method provided by the National Payments Corporation of India (NPCI) that allows aadhaar linked bank account holders to avail basic banking services such as balance inquiry & cash withdrawal. Customers simply need to tell BACHHAT Retailer their 12-digit aadhaar number and aadhaar linked Bank name. Fingerprint authorization is done using a biometric device to avail of the service.
Benefits of AEPS for agents
- Becoming BACHHAT agent is a profitable business opportunity
- BACHHAT agents can register for AePS service to convert their shop to a mini ATM
- BACHHAT provides people a perfect solution for their AePS related needs
- A long term business association
- Big profits from smaller investments
Benefits of AEPS for Customer
- Offers cardless cash withdrawals via Aadhaar authentication
- An easy and secure way for cash withdrawal and balance inquiry service
- Aadhaar Enabled Payment System has been formulated for every section of the society so that the rural communities, as well as elderly people of the urban areas can utilize the fast and reliable basic banking service.
- Any bank account holder or customer can access banking services by simply identifying their identity with the help of biometrics and Aadhaar numbers without having to remember the account number.
- Interoperable across multiple banks.
Services Offered by AEPS Portal
- Cash Withdrawal
- Balance Enquiry
How to use AEPS?
The process of using AEPS Portal is quite simple. Follow these simple steps :
- Visit a BACHHAT outlet correspondent in your area. (It does not matter if you don’t remember your bank account can do transactions through AEPS).
- Provide the 12-digit Aadhaar number & Bank name to the BACHHAT
- Select transaction-type - cash withdrawal or balance inquiry.
- Enter the amount of the transaction (as applicable)
- Authenticate the transaction using biometric (fingerprint)
- The transaction is completed in seconds.
- The bank agent receives a transaction receipt & the customer receives an SMS confirmation from the bank.