AEPS PE

AEPSPE - Mobile Recharge, Money Transfer, AEPS

Aadhaar Enabled Payment System (AEPS) Aeps Pe is a bank-led model, which uses online authentication to make online interoperable financial transactions on PoS (Sales / Micro ATM) through any bank's Business Correspondent (BC) / Bank Friend allows for.

NPCI National Payments Corporation of India (NPCI), incorporated by the Reserve Bank of India, acts as a center for all electronic retail payment systems in the country. These retail payment systems include a diverse range of products, distribution channels, service providers and technology solutions.

Aeps Pe enables Merchants to receive digital payments from customers over the counter through Aadhaar Authentication. It allows for any Merchant associated with any acquiring bank live on Aeps Pe , to accept payment from customer of any bank by authenticating customer's bio metrics.

AADHAAR Enabled Payment System (AEPS) AADHAAR Enabled Payment System provides basic financial services (cash deposit, balance enquiry, cash withdrawal and remittance) at low cost access devices (called MicroATMs) maintained at Business correspondents in an inter-operable way.

Here's how to send money to Aadhaar numbers via Aeps Pe app:

Open the Aeps Pe app on your phone.

Tap Send Money.

Tap the three dots on the top-right. ...

Enter the recipient's Aadhaar Mobile Number.

Tap Verify. ...

The next step will show you the person's Account Number. ...

Enter the amount and a reason for payment.

Tap Pay.

Done

View Your Transaction Number.

The issuer identification number (IIN) refers to the first few digits of a payment card number issued by a financial institution.The issuer identification number is unique to the issuer and its partnering network provider. The IIN helps identify the processing network used for the card's transactions.

A bank identification number (BIN) is the initial four to six numbers that appear on a credit card. The bank identification number uniquely identifies the institution issuing the card. The BIN is key in the process of matching transactions to the issuer of the charge card.

In statistics, data is usually sorted in one way or another. You might sort the data into classes, categories, by range or placement on the number line. A bin—sometimes called a class interval—is a way of sorting data in a histogram.

NPCI mapper is a repository of Aadhaar numbers linked with particular bank and used for the purpose of routing the Aadhaar based payment transactions to the destination banks. The NPCI mapper contains Aadhaar number along with IIN (Issuer Identification Number) of the bank that has seeded the Aadhaar number.