What is AePS (Aadhaar Enabled Payment System)?
The AePS full form is an Aadhaar-enabled Payment System. It is a bank-led model that allows interoperable financial transactions using Aadhaar Authentication at MicroATM. The AePS services (Aadhaar-enabled payment system) ease the banking process using fingerprints and Aadhaar numbers. With this system, people can deposit and withdraw money from micro ATMs just using their Aadhaar numbers and biometrics. It is a secured mode of payment.
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