AePS

Definition	:	Aadhaar enabled Payment System
Category	:	Business » Banking
Country/Region	:	India
Popularity	:

What does AePS mean?

Aadhaar enabled Payment System (AePS) is an Indian payment system which allows online interoperable financial transaction at Micro ATM or Point of Sale (PoS) terminal through the Business Correspondent (BC) of any bank using the Aadhaar authentication. In order for the AEPS to work the Aadhaar number should be linked with the bank account. AEPS can be used for Aadhaar to Aadhaar fund transfer, balance inquiry, cash withdrawal, mini statement, etc.