In this article we are going to know AEPS full form
AEPS Full Form
What Is The Full Form Of AEPS?
The full form of AEPS is Aadhaar Enabled Payment System.
Below We Are Going To Explain The Meaning Of AEPS,
Find The Meaning Of AEPS
What Is The Meaning Of AEPS?
The Meaning Of AEPS is a new payment service offered by the National Payments Corporation of India to banks, financial institutions using ‘Aadhaar’.
Find The Abbreviation Of Aadhaar Enabled Payment System
What Is The Abbreviation Of the Aadhaar Enabled Payment System?
The Abbreviation Of Aadhaar Enabled Payment System Is AEPS.
AEPS is usually and wide referred to as Aadhaar Enabled Payment System. AEPS was introduced by NPCI(National Payment Corporation of India) as its contribution to the Digital India Campaign. The transactions are ones that are applied by a mini ATM or POS machine that is encrypted and documented by UIDAI.
Customers’ bio-metrics plays a crucial role in leading any services as the system only detects the customer’s fingerprint which was captured during the enrollment before moving forward with any transaction. This service is being excessively used in Tier2 and Tier3 cities.
The bio-metric machine is attached to the mobile phone by USB cable wherein the customer’s details like IIN (Issuer Identification Number), Fingerprint and UIDAI number need to be filled for making any transaction successful.
Anybody who has an Aadhaar card linked to his/her bank account can avail of this service and make the transaction without actually going to an ATM. AEPS service helps in money deposits and withdrawal and in checking the account balance
Frequently Asked Questions:
What is the AEPS?
Aadhaar Enabled Payment System is a bank-led model, which allows online financial inclusion transaction at Micro-ATM through the Business correspondent of any bank using the Aadhaar authentication.
How do you use Aeps?
How to use AePS?
Visit a banking correspondent in your area.
Enter your 12-digit Aadhaar number within the PoS Machine.
Select the transaction type – cash deposit, withdrawal, mini statement, fund transfer, balance inquiry or eKYC.
Select the bank name.
Enter the amount for the transaction.
How do I register for Aeps service?
How To Register For AEPS:-
Click on the registration form link.
Pay registration Fee in any company account given in the registration form.
Submit all details and check your details by clicking on the preview button.
after checking your details submit your data.
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AEPS Full Form In English?
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What Is Abbreviation Of the Aadhaar Enabled Payment System?
Aadhaar Enabled Payment System Abbreviation In English?
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Definition Of AEPS?
AEPS Full Form.