Airpay Payment Gateway : Banking Anywhere, Anytime, Paytm Payments Bank Launches Aadhaar-based Payment System (AePS)-

Banking anytime, anywhere, Paytm Payments Bank launches Aadhaar-based Payment System (AePS) - The

We are pleased to announce that we have enabled access to banking services through Aadhaar by integrating the Aadhaar-based Payment System (AePS). Basic banking services such as cash withdrawals, balance enquiries and access to mini bank statements can now be accessed through the business contacts of any AePS enabled banks and financial institutions across the country including 10,000 PPBL banking outlets.

What is AePS In simple terms, AePS is an NPCI-led model that allows customers to perform basic banking transactions using Aadhaar number and biometric authentication on PoS (micro ATM) through an AePS enabled business contact of any bank. The only inputs required for a customer to make a transaction in AePS mode are the bank (IIN), Aadhaar number and fingerprint.

What are the benefits of AePS?

- Convenient Banking Services: Easily access banking services at the nearest business contact centre, regardless of your bank.

- Banking Service Points: PPBL has partnered with over 10,000 business contacts to provide banking services.

- Financial inclusion: easy access to banking services even in rural and semi-urbanised areas.

What services are available through AePS?

- Cash withdrawals

- Balance Enquiry

- Mini bank statements

- Cash deposits* (forthcoming)

- Interbank fund transfers** (forthcoming)

What do I need to use the AePS service?

- Aadhaar Number/Virtual ID (VID)

- Fingerprint/Iris

- Banks (IIN)

How does it work?

Important things to keep in mind when using AePS:

- Do not share OTP or PIN codes with business contacts.

- Ensure that your Paytm Payments Bank account is linked to your Aadhaar card.

- Maximum amount per transaction: 10,000/- INR

- Monthly Withdrawal Limit: 50,000/- INR or 10 transactions

PPBL has brought millions of underserved people into the formal banking system.AePS is the latest in a long line of services launched by the bank to provide customers with a more convenient and accessible banking experience. We also support direct benefit transfers. Click here to learn more.