Benefits of AePS are as follow:
- Aadhaar enabled Payment System is easy to use, safe and secure payment platform to avail benefits by using Aadhaar number & biometrics.
- Aadhaar enabled Payment System is based on the demographic and biometric/iris information of an individual, it eliminates the threat of any fraud and non-genuine activity.
- Aadhaar enabled Payment System facilitate disbursements of Government entitlements like NREGA, Social Security pension, Handicapped Old Age Pension etc. of any Central or State Government bodies using Aadhaar authentication.
- Aadhaar enabled Payment System facilitates inter-operability across banks in a safe and secured manner
- Reaching the unreached – The model enable banks to extend financial services to the unreached clients beyond their branch network as beneficiaries of the BCs are mostly located at unbanked and underbanked areas.
