Aadhaar-enabled Payment System: How to avail banking services on NPCI platforms; all you need to know

Aadhaar-enabled Payment System has crossed the milestone of over 200 million transactions during July this year If you live in an area where a bank or ATM services are not available, then as a bank customer, what do you do to withdraw cash? This system facilitates disbursement of government entitlements like NREGA, social security pension, Handicapped old age pension etc., of any Central or State government bodies, using Aadhaar and authentication as supported by Unique Identification Authority of India. They can be retired bank employees, post offices, Non-Governmental Organisations, self-help groups, retired teachers and retired government employees, individual owners of medical shop or kirana shop, co-operative society, and companies registered under Companies Act 1956, excluding Non-Banking Financial Companies They are engaged by banks for providing banking services at locations other than a bank branch/ATM. This is done by entering the customer’s UID number, fingerprints and amount into the micro-ATM Why you should use AePS AePS allows a bank customer to use Aadhaar as an identity to access respective Aadhaar-enabled bank account and perform basic banking transactions like cash withdrawal, intrabank or interbank fund transfer and balance enquiry To facilitate disbursements of government entitlements like NREGA, social security pension, handicapped old age pension, etc., of any Central or State Government bodies, using Aadhaar and authentication as supported by UIDAI What you need for AePS IIN. This is a 6 digit number that helps in the identification process of your bank Aadhaar Number—It is a 12-digit unique identification number issued by the Unique Identification Authority of India Fingerprint captured during their enrollment Services offered Cash withdrawal Cash deposit Balance enquiry Aadhaar to Aadhaar fund transfer Mini statement Best finger detection How to use AePS Step 1: Go to a micro ATM or banking correspondent Step 2: Provide Aadhaar number and bank name Step 3: Choose the type of transaction you want to make Step 4: Provide verification through fingerprint/iris scan Step 5: Collect your receipt Benefits of using AePS