Urgent need of cash is a common requirement in the times of emergency. Banks and ATMs have locational constraints which make it inconvenient for account holders to withdraw money at the times of need. Aadhaar Enabled Payment System (AEPS) is a system offered by NetPaisa allows people to carry out financial transactions by furnishing just their Aadhaar number and verifying it with the help of their fingerprint/iris scan without visiting a bank or ATM.

People do not have to mention their bank account details to carry out these transactions. With the help of this payment system, people can send funds from one bank account to another simply through their Aadhaar numbers. As the system works on a centralised server, people can send money from their account to any account irrespective of the bank in which the receiver’s account is operated.

There are a number of benefits of AEPS. Some of those are mentioned below:

  • Banking, as well as non-banking transactions, can be performed
  • People do not have to furnish their debit/credit card for making transactions through AEPS.
  • The fingerprint is needed for transaction authentication which makes it safer.
  • AEPS Devices can be taken to distant places enabling people in remote villages to make transactions instantly.

This is a unique solution for withdrawing cash without going to the bank. It is a simple and secure system which allows people to carry on transactions at point of sale or small scale ATM's just by providing their Aadhar number and finger print scan for verification.

The process of withdrawing cash using AEPS is quite easy. You have to follow these simple steps:

  • Visit a NetPaisa Retailer in your area
  • Enter your 12-digit Aadhaar number in the PoS Machine
  • Select the transaction type – cash withdrawal
  • Select the bank name
  • Enter the amount for the transaction
  • Authenticate the transaction using your biometric (fingerprint or iris scan)
  • The transaction gets completed in seconds
  • The cash and a transaction receipt will be given to you by the NetPaisa retailer

Other services which are available through NetPaisa AEPS are

  • Balance Enquiry.
  • No debit/credit card info is required.
  • Cashless Transactions.
  • Safest and securest as finger print scan is required for verification.