A Complete Guide to AEPS Services Offered by Finkeda In India, the need for convenient banking facilities has never been so high. Millions of people continue to lack access to formal banking facilities, particularly in villages, small towns, and semi-urban regions. The Aadhaar Enabled Payment System (AEPS) makes this possible, bringing banking to everyone, anywhere. With Finkeda, shopkeepers can add banking services to their counters, offering customers easy access to financial facilities right at their doorstep. In this guide, we’ll break down what is AEPS service, how it works, and the services offered by Finkeda to merchants and businesses looking to provide Aadhaar-based payments.
What is AEPS in Banking? AEPS, or Aadhaar Enabled Payment System, is a banking service that enables people to make simple banking transactions through their Aadhaar number and biometric authentication, like a
fingerprint or face recognition. It eliminates the need for debit cards, mobile apps, or cash wallets. In a nutshell, AEPS is a method of accessing your bank account digitally using your Aadhaar ID. It's also known as an Aadhaar-Based Payment System or Aadhar Card-Enabled Payment System.
How Finkeda Powers Merchants with AEPS Finkeda’s platform enables merchants to deliver a full range of banking services at their outlets. Customers can check balances, withdraw cash, receive payments, or view mini statements - all without a smartphone or debit card. Here’s why Finkeda stands out: 1. Simple and Secure Payments - With Finkeda's AEPS service, customers only need their Aadhaar number and biometric verification. No need to memorize PINs, manage wallets, or swipe cards. Each transaction is securely passed through UIDAI-verified channels for traceability and fraud prevention. 2. Serving the Unbanked - A large segment of India's population lacks convenient access to banks or digital wallets. Finkeda's Aadhaar Banking solution operates even in low-connectivity zones, enabling customers to make withdrawals and payments wherever they are. 3. Instant Transactions - One of the strongest strengths of AEPS (Aadhaar Enabled Payment System) is speed. Transactions are carried out instantly, which implies that money transfer, balance inquiry, and withdrawal are done in real time. With this real-time processing, there are no hassles and delays in financial activities, and users save both effort and time.
AEPS Services Offered by Finkeda Finkeda offers a variety of AEPS services that are convenient for merchants to provide. Every service needs only the Aadhaar number of the customer, the bank, and biometric verification.
1. Cash Withdrawal ● ● ● ●
Choose “Cash withdrawal” on Finkeda’s platform. The customer provides their Aadhaar number and bank. The authentication is done biometrically through fingerprint or face scan. The amount is debited from the customer’s account, credited to the merchant’s wallet, and the cash is handed over.
2. Balance Enquiry ● Merchants can quickly check a customer's account balance. ● Aadhaar and bank details are entered, and then biometric authentication is done.
● The available balance shows instantly so that customers can know their funds on the spot.
3. Mini Statement ● Merchants can provide mini statements of the last five transactions. ● The process is easy: enter the Aadhaar number and bank details, authenticate biometrically, and show the statement immediately.
4. Aadhaar Pay ● Merchants can get payments straight into their accounts. ● The customer enters their Aadhaar number and bank selection, verifies through biometrics, and the money gets transferred at once. ● This makes Aadhaar-based payment system transactions smooth, quick, and convenient for merchants and their customers.
Get Started with AEPS It's easy to turn your store into a digital payment point with Finkeda: Step 1: Enter Transaction Details Select “Aadhaar Pay,” enter the amount, the customer’s Aadhaar number, and the bank. The system prepares the transaction request for verification. Step 2: Biometric Authentication The customer authenticates their identity using a fingerprint or a face scan. The system cross-checks with UIDAI in real-time to ensure authenticity. Step 3: Instant Payment Processing Money is deducted from the customer’s account and deposited into the merchant’s wallet or account immediately. Both merchant and the customer get notified.
Conclusion The Aadhaar Enabled Payment System is revolutionizing the way India banks, enabling digital financial services to reach all parts of the country. Finkeda's platform simplifies the use of AEPS for merchants, enables them to serve unbanked customers, and expands their business possibilities. Whether you want to provide cash withdrawals, balance enquiries, mini statements, or Aadhaar Pay, Finkeda makes your transactions easy, secure, and instant. By integrating Aadhaar Banking at your store, you enable your community to use banking services without smartphones or debit cards - while expanding your own business.
Ready to turn your counter into a digital banking desk? Partner with Finkeda today, and become the go-to Aadhaar Banking point in your community.
