Aadhaar Enabled Payment System (AEPS) | Cashless Society
Aadhaar enabled payment system (AESP) is a type of payment system which is basically based on aadhaar card number and enables us for a cashless transaction. AEPS is the service which helps us with basic banking actions like money transfer, deposit, withdrawal and mini statement. This was the first initiative towards cashless society from the Indian government.
This project started since January 2016 in which Indian government-linked all bank accounts with individual aadhaar card numbers as a unique identity. This facility enables us to make basic financial actions without going any ATM or bank. You only required your aadhaar card number which shows your unique identity and fingerprint impression which works as your code or pin. You don’t need to remember any pin code for this.
So this was the basic knowledge, further here we learn about how to use it properly and how it works and what its benefit and features, Keep reading for interesting knowledge which helps you in daily life too. Without waste times I come on point so first, we learn how to use it.
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