Aeps: Stands for Aadhaar Enabled Payment

AePS stands for Aadhaar Enabled Payment System. It is an Indian payment system that uses Aadhaar verification to enable online interoperable financial transactions at Micro ATM or Point of Sale (PoS) terminals via any bank’s Business Correspondent (BC). AePS Transaction Meaning: Aadhar Enabled Payment System ( AEPS ) is a payment service that allows customer to use their Aadhaar card as their identity proof and to access their Aadhaar-enabled bank account and perform basic banking transactions like cash withdrawals, balance inquiries, mini statement and cash deposit. We would like to show you a description here but the site won’t allow us. Interoperability: AePS system facilitates inter-operability across banks in a safe and secure manner, providing a convenient way to send and receive money, eliminating the need for physical bank branch visits.