The Aadhaar Enabled Payment System ( AePS) is a payment service that permits individuals to utilize Aadhaar as their identity for accessing various banking transactions. These transactions include activities like checking account balances, depositing cash, and withdrawing funds.
The Aadhaar Enabled Payment System ( AePS) Cash Deposit API facilitates individuals to deposit cash into their bank accounts seamlessly, using the Aadhaar as the primary means of identification. It is one of the most secure and efficient ways to initiate and process cash deposits via the AePS service.
Moreover, AePS Cash deposits are ready to end your worries by allowing you to deposit cash into your bank accounts using your Aadhaar number, mobile number, biometric authentication along bank name.
How does AePS Cash Deposit API work?
AePS Cash Deposit API works by enabling partner merchants to provide banking services to their customers in their local communities. Customers will visit the merchant outlet to avail of AePS cash deposit services.
The partner merchant then provides AePS cash deposit service to the end user and customer, by asking for a few details, ranging from an Aadhaar number, mobile number, and bank name along with the amount.
The merchant then streamlines the transactions in real-time and the customer receives the confirmation of the transactions via SMS. The proof of the transaction is given to the customer.
Benefits of AePS Cash Deposit API
Convenience & Accessibility
AePS Cash deposits provide convenient banking services, especially to those who cannot access physical banking branches.
Financial Inclusion
AePS Cash Deposits endorses financial inclusion with ease and access to banking services for individuals in rural and remote areas, by helping them deposit cash into their bank accounts easily.
Ensures Security
Aadhaar based biometric authentication adds security to AePS Cash deposit services, preventing fraud and ensuring the safety of deposited funds.
