AePS is a bank led model which allows basic interoperable banking transactions at PoS (MicroATM) through the Business correspondent of any bank by using Aadhaar authentication.

AePS has become instrumental in driving the financial inclusion program in India. In July 2019, the transaction count of AePS stood at 220.18 million with transaction value Rs. 9,685.35 crore, compared to a transaction count of 194.33 million and a transaction value of Rs.8,867.33 crore in the month-ago period same year. A total of 6.65 crore Indian citizens have availed the banking services through AePS platform in July.

“AePS crossing 200 million transactions mark is a significant achievement for NPCI, benefiting Financial Inclusion in India. AePS is delivering the 4As’ for financial inclusion to rural part of India, Authentication of customer, Availability of the services, Accessibility through AePS channel and Affordability as it’s free of cost to the customers,” said Praveena Rai, COO, NPCI.

AePS empowers a bank customer to use Aadhaar as his/her identity to access his/her respective Aadhaar enabled bank account and perform basic banking transactions like cash withdrawal, Intrabank or interbank fund transfer and balance enquiry. The only inputs required for a customer to do an AePS transaction are the name of the customer’s Bank, Aadhaar Number and Fingerprint captured during their enrollment.