AEPS is a bank led model which allows online interoperable financial transaction at PoS (Point of Sale / Micro ATM)
through the Business Correspondent (BC)/Bank Mitra of any bank using the Aadhaar authentication.
Kmpaisa in collaboration with Banks will enable you to provide complete Banking Services using Aadhaar Enabled Payment System (AEPS) platform This service from Kmpaisa will play a major role in financial inclusion initiative of Government of India and will bring Banking Services at the doorstep of consumers.
Kmpaisa is one of the best company which provides you API for AEPS. By integrating the Aeps you API in your portal you can able to transfer funds using your aadhaar detail. The main information sources required for a client to complete an exchange under this situation are:-
Although Aadhaar Enabled Payment System does not require any paper or card, it does require the individual to link the Aadhaar to a bank account. If the individual fails to link his/her Aadhaar, the AEPS facility is not useful for you
The major requirements to carry out an AEPS transactions are:
This means all you need to carry out an AEPS transaction is to remember your Aadhaar number just like your own mobile number.
The basic transactions that can be done through AEPS registration are:
Simply fill up the form and provide the necessary information like Name, Address, DOB etc along with KYC documents to get and started. BharatPay will take care of getting you approved and registered with the bank.