It is a unique solution that allows merchants across the country to facilitate cashless purchases for customers with just their thumb and Aadhaar number. No headache of multiple apps, card swipes, remembering passwords, downloading e-wallets or even carrying a phone for cashless payments. With an Aadhaar linked bank account and your thumb impression as your ID, you can use this breakthrough technology to pay for anything, anywhere.
It is surprising that only through the Aadhaar number you can access your bank account. But it is possible then when your Aadhaar number is linked to your bank account otherwise not possible to access your bank account. This linking leads you to your bank account. The fingerprint is authenticated by The Unique Identification Authority of India (UIDAI). In response to a transaction, UIDAI tells to the bank about the authenticity of the user. Once, UIDAI authenticates, the bank gives a green signal to the transaction.
Through the Aadhaar Enabled Payment System, you can withdrawal money without producing any card. However, your Aadhaar number should be registered with your banking account. If you have not linked your Aadhaar with your bank account then you won't able to get benefit from Aadhaar Enabled Payment System (AEPS). For Aadhaar Enabled Payment System (AEPS) transactions, you will need the following details.
