What is AEPS and AEPS full form in banking (1)

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What is AEPS and AEPS full form in banking
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What is AEPS

• The full form of AEPS in banking is Aadhaar
  Enabled Payment System or also it is Micro ATM,
  which is developed by the umbrella body for
  digital transaction NPCI-National Payment
  Corporation of India, is a sort of an installment
  framework that permits to do monetary exchanges
  via Aadhaar based confirmation.
• AEPS depends on the Unique Identification Number
  or the Aadhaar number and allows the Aadhaar
  cardholders to start and finish the exchanges
  easily.

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Uses of AEPS

• AEPS allows mainly 6 types of basic financial
  transaction.
• The facility of Cash deposit.
• The facility of Cash withdrawal.
• Easy balance inquiry.
• The benefit of Intra bank or Interbank fund
  transfer.
• Hassle free purchasing at fair shops.
• Obtaining a Mini statement.

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Benefits of AEPS

• The few advantages of AEPS
• It is easy to use.
• It is completely safe and protected method of
  payment.
• Using AEPS, financial balance holders will be in
  a situation to get to their records in banks
  through Aadhaar verification.
• AEPS facilitates the installments of numerous
  Government plans like Social Security benefits,
  NREGA Handicapped Old Age Pension, and so on of
  Central Government or State Government bodies via
  Aadhaar confirmation.

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To Know MoreVisit
https//www.fidypay.com/aeps.html