AEPS
AEPS helps you to convert your existing business into a bank
ATM. It is an AEPS
based payment solution, which interfaces with the AEPS of NPCI and
supports transactions
from one Aadhaar linked account to another routed through Aadhaar
Enabled Device.
The service can be started easily with very fewer formalities from your
existing
shop or home. It helps you to perform various financial transactions for
your customers,
thereby giving you an opportunity to earn handsome commissions.
How Does AEPS Work?
The AEPS machine works like a
Point of Sale
(POS) machine. Instead of a debit/credit card pin, the merchant will
have to key
in the customer’s Aadhaar number and authenticate the transaction using
the customer’s
biometric data.
You will require the following formation to carry out an AEPS
transaction:
• Bank’s Issuer Identification Number (IIN) or Name
• Aadhaar Number
• Fingerprint