Government to launch AEPS mobile app

Q.  What does AEPS stand for?
- Published on 19 Dec 16

a. All Electronic Payments
b. Aadhaar Enabled Payment System
c. ALL Employees Payments System
d. Aadhaar Enabled Payment Site

ANSWER: Aadhaar Enabled Payment System
 
Government to launch AEPS mobile appGovernment will launch a mobile app to facilitate Aadhaar linked digital payments and roll out a nationwide program to train one crore people on e-payments.

The AEPS or Aadhaar enabled payment system will be promoted to enable coordination with the Finance Ministry.

Around 40 crore bank accounts have been linked to Aadhaar. Biometric devices can be connected to smartphones and convert it into PoS machine. A UPI enabled mobile application will be available in 2-4 days.

Customer feed Aadhaar number, scan figure on the biometric and approval of the amount paid on the application will be involved and the payment will be transferred from the account to the merchant’s account.

Customers will not need to share bank account details as the application will detect the bank account linked to the Aadhaar number with the aid of UPI or Unified Payment Interface.

Common Service Centres across the country are carrying out AEPS transactions and the same will now be available through mobile app.

Government will also train 14 lakh VLEs cross 500 districts and 6500 blocks carrying out digital transactions.

As per the programme, each VLE will train 40 individuals covering 80 lakh individuals and at least 10 shopkeepers will target total cover of 25 merchants across the nation.

Even migrant workers having Aadhaar will be able to open bank accounts.

Aadhaar Card
  • 12 digit unique identity number.
  • Issued by: Unique Identification Authority of India.
  • Central government agency UIDAI has launched this project.
  • It is considered the world’s largest national identification number project.
  • This card serves as proof of identity and address anywhere in India.
  • Enrolment is free of cost and needs to be done voluntarily.

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