AEPS (Aadhaar Enabled Payment System) is a type of payment system in India that allows users to make financial transactions using their Aadhaar number and biometric authentication. AEPS enables users to carry out transactions such as cash deposit, cash withdrawal, balance inquiry, and money transfer, through a simple and secure process.
The system uses the Aadhaar number, which is a unique 12-digit identifier assigned to Indian citizens by the government, as a form of authentication. The user provides their Aadhaar number and biometric information, such as a fingerprint scan, to initiate the transaction. The system then verifies the user’s identity using this information and enables the transaction to be completed.
AEPS is aimed at promoting financial inclusion and making it easier for users, especially those in rural areas, to access basic financial services. It is widely accepted at various merchants, banks, and financial institutions across India, and can be used for various purposes, such as opening a bank account, paying bills, and more.
To use AEPS, users need to be enrolled in the Aadhaar program and have their Aadhaar number linked to their bank account. Additionally, the merchants or financial institutions offering AEPS services must be registered with the UIDAI (Unique Identification Authority of India) and must have a valid AEPS license.
AEPS API (Aadhaar Enabled Payment System API) is an API that allows developers to integrate AEPS (Aadhaar Enabled Payment System) functionality into their platforms. Using the AEPS API, developers can provide users with access to various financial services, such as cash deposit, cash withdrawal, balance inquiry, and money transfer, through their platform, using their Aadhaar number and biometric authentication.
The AEPS API provides a set of protocols and interfaces that developers can use to communicate with the AEPS system. The API allows developers to initiate transactions, receive responses, and display transaction status to the users, all through a secure and reliable connection.
To use the AEPS API, developers need to register with a licensed AEPS API provider and obtain API keys, which are used to make API calls to the AEPS system. The API provider then facilitates the communication between the developer’s platform and the AEPS system, ensuring that the transactions are processed in a secure and compliant manner.
AEPS API can be used by various types of platforms, including mobile applications, web-based platforms, and more, to provide financial services to users in an easy and convenient manner. This can help to promote financial inclusion and make basic financial services accessible to a wider population, especially in rural areas.