The meaning of AEPS is Aadhar Enabled Payment System and it is basically a form of payment system which is based on the Unique Identification Number and it gives the Aadhar card holders to seamlessly make financial transactions through the Aadhar-based authentication.
The main aim of AEPS is empowering all section of the society by making them available all the financial and banking services through Aadhar. So mainly APES is Aadhar-enabled payment system which can be used by people to transfer funds, make payments, deposit cash, make withdrawals, making an inquiry about bank balance, etc.
Treatpay is a digital payment service and functions as a mini bank branch, it also provides the service of AEPS. AEPS is only activated through some banking correspondent or Micro ATM. Treatpay provides with the activation services of APES at a very nominal rate. The Charges which are demanded by the Treatpay for the activation of AEPS services is just Rs. 199.
This is the first step which is necessary for starting your Aadhar Enabled Payment System or AEPS as provided by the Treatpay Services.
Go to the website of Treatpay and ask for the AEPS service activation.
Provide the Treatpay team your Aadhaar Number and Bank Name.
Choosing the type of transaction, you want to make.
Providing verification through fingerprint/iris scan.
Collecting your receipt.
The working of AEPS is similar to that of Point of Sale (POS) machine. In place of the credit/credit cards used during the transaction through POS machine, in APES merchant will need the customer’s Aadhar number and they will then authenticate the transaction using the customer’s biometric data.
The AEPS transaction requires these things to be completed:
Treatpay activates the APES at a very nominal rate of Rs. 199 and APES are very simple, secure and the user-friendly platform for financial transactions. In order to use AEPS users must have their bank account linked to Aadhar.
Use Treatpay for activating Aadhaar Enabled Payment System.