AEPS stands for Aadhaar Enabled Payment System, which is a payment mechanism that allows customers to perform basic banking transactions using their Aadhaar number and biometric authentication. AEPS is a bank-led model that enables online interoperable financial transactions at Point of Sale (PoS) or micro-ATMs through the Business Correspondent (BC)/Bank Mitra of any bank using the Aadhaar. The following are the services available under AEPS:

• Cash Withdrawal
• Cash Deposit
• Balance Enquiry
• Mini Statement
• Aadhaar to Aadhaar Fund Transfer
• Authentication

AEPS cash withdrawal is a service that allows users to withdraw cash using their Aadhaar number and biometric authentication. The maximum transaction amount for a single AEPS financial transaction has been set by NPCI at Rs. 10,000. AEPS plays a significant role in empowering the underprivileged sections of society by providing them with access to banking services and enabling digital financial transactions. Users can complete transactions without having to disclose their bank account details, enhancing privacy and security. AEPS enables the deployment of micro Point of Sale (PoS) machines to remote villages and areas, facilitating easy and accessible transactions for users in underserved regions.