AEPS, or Aadhaar Enabled Payment System, is a financial inclusion initiative in India that allows individuals to carry out banking transactions using their Aadhaar number and fingerprint authentication. This system facilitates cash withdrawals, balance inquiries, and fund transfers using Aadhaar as a central identifier. AEPS is especially beneficial for those who may not have easy access to traditional banking services
Money transfer services refer to the electronic or digital transfer of funds from one individual or entity to another. These services have become increasingly popular due to their speed, convenience, and accessibility. Users can transfer money through various channels such as bank transfers, mobile wallets, online platforms, or specialized money transfer services.
Micro ATMs are portable devices that function as point-of-sale terminals, allowing basic banking transactions in remote areas where traditional ATMs might be unavailable. Micro ATM withdrawal refers to the process of withdrawing cash using these devices, typically through Aadhaar authentication or debit cards. It serves as an essential financial service for people in rural or underserved areas.
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