The Government of India has facilitated Aadhaar Enabled Payment System (AEPS) via Smartphone to encourage cashless digital India. It is also called as “MicroATM” Service. In a short time, you will able to pay money using your own Aadhaar card. it means after you don’t need to any other mode like Credit/Debit card. And it’s totally Android-based mobile application which allows the user to do a transaction using their Aadhaar number. For that, you should have linked your Bank Account with Aadhaar Card.
- Features which you can avail using Aadhaar card include Balance enquiry, Gateway Authentication Service, Withdrawal and deposit the money and the best part of this facility is “Aadhaar to Aadhaar money/fund transfer”
- The main purpose of behind this Aadhaar Enabled Payment System – AEPS is to Exclude plastic money and insecurity about black money.
Recently The UIDAI – Unique Identification Authority Of India has released this news that All Government Banks are continued with the AEPS – Aadhaar-enabled Payment System. When private sector banks like ICICI, HDFC, AXIS etc. had suspended these services.
As per the Supreme court decision, Aadhaar holder will catch this Direct Benefit Transfer Scheme (DBT) services using Aadhaar very soon. Some creditor has suspended this operation but Ministry of Finance officially asked: “This was despite the fact that the judgement had observed that direct benefit transfers (DBT) will continue to be Aadhaar-linked.”. UIDAI will take legal opinion & Issue directions from Interpol.
Beneficiaries who are living in the villages will get better help from AEPS. currently, there are 140 million Beneficiaries are active under Pahal & Ujjwala schemes, who receive Government schemes benefit such as gas cylinder subsidy in their linked bank account every month.
There are total 600000 villages are stated in India but only 140000 villages have bank branches. In many villages where a bank would be 30 to 40 km. away from the house. Meanwhile, in this condition, villagers can easily withdraw their money with the help of AEPS at their home.
Critics Twitt On Aadhaar Enabled Payment Services
- According to DoT, if you want to delink your Aadhaar? you should go for a fresh KYC.
- Aadhaar Enabled Payment System is part of DBT schemes where beneficiaries can use their Aadhaar, is allowed
- Nowadays 140+ mn AEPS transactions take place every month.
- Financial companies in a fix over SC’s Aadhaar order, suspend eKYC