The Phonxpay AePS service enables the customer to use their Aadhaar card to access their Aadhaar-linked bank account and carry out basic banking transactions like withdrawals, balance enquiry, and bank transfers. These transactions can be easily done using a secure Biometric Scanner which is available with all customer service points.
Objective
- To empower a bank customer to use Aadhaar as his/her identity to access his/ her respective Aadhaar enabled bank account and perform basic banking transactions like cash deposit, cash withdrawal, Intrabank or interbank fund transfer, balance enquiry and obtain a mini statement through a Business Correspondent
- No peripherals required for customers to make payments like cards and smart phone
- Through AEPS, all bank account holders will be able to access their bank accounts through Aadhaar authentication
