Aadhaar Enabled Payment System (AePS) API
The finzep Aadhaar Enabled Payment System (AePS) API facilitates seamless, real-time financial transactions using Aadhaar-linked bank accounts. With features such as Cash Withdrawal, Mini Statement, Balance Inquiry. API enables businesses to offer fast and secure payment solutions. AePS also supports Aadhaar-based biometric authentication for enhanced security, ensuring that users can access their funds or perform transactions easily and reliably.
This API is ideal for businesses seeking to provide inclusive, accessible, and cost-effective financial services to their users, especially in rural and underserved regions.
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Key Features
List out the most compelling aspects of the Aadhaar Enabled Payment System API.
Cash Withdrawal
Enable users to withdraw cash directly from their Aadhaar-linked bank accounts without needing a traditional bank card.
Mini Statement
Allow users to retrieve a summary of their recent transactions directly from their Aadhaar-linked account, providing them with an instant overview.
Balance Inquiry
Customers can check their account balance linked to Aadhaar, eliminating the need for a bank branch visit.
Biometric Authentication
Use Aadhaar-linked biometrics (fingerprint or iris scan) for secure, real-time transaction authorization.
Secure & Compliant
Ensure all transactions are compliant with regulatory standards and are encrypted for maximum security.
How AePS API Work
Provide real-world scenarios in which businesses can benefit from the AePS API. This helps potential clients visualize how finzep can solve their problems
API Integration
Integrate the finzep AePS API with your system to start offering Aadhaar-based financial services like Cash Withdrawal, Mini Statement, and Balance Inquiry.
Customer Authentication
Users authenticate their identity using Aadhaar-linked biometrics (fingerprint or iris scan).
Initiate Transaction
Customers select the service, such as Cash Withdrawal, Mini Statement, or Balance Inquiry, and provide the necessary details for the transaction
Transaction Processing
The API processes the transaction in real-time and confirms the status immediately.
Confirmation & Receipt
Once the transaction is complete, the API sends real-time confirmation and generates a receipt for the user.
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Secure Transactions
Biometric-based authentication ensures that all transactions, including money withdrawals, balance inquiries, and mini statements, are safe and authorized.
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No Bank Account Needed
Offer cash withdrawal and other services without requiring a traditional bank account, making financial services available to a broader audience.
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Financial Inclusion
Provide easy access to financial services for people in rural areas or underserved communities, helping bridge the financial gap.
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Low-Cost & Efficient
Reduce operational costs by enabling direct transactions with minimal infrastructure, making it a cost-effective solution for businesses.
