5 smart things to know about Aadhaar-enabled payment system

1. AEPS enables bank customers to access their Aadhaar-linked bank accounts through the Aadhaar authentication.

2. Customers can find out their account balance, deposit cash, withdraw money and transfer funds to other Aadhaar-linked bank accounts through the help of business correspondents of any bank.

3. The only inputs required from a customer for a transaction are the Aadhaar number and fingerprint captured during the enrolment.

4. AEPS will allow inter-operability among different systems adopted by different banks in a safe and secured manner.

5. AEPS is aimed at empowering the marginalised and excluded segments to conduct financial transactions through micro ATMs deployed by banks in villages.