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Aadhaar Enabled Payment System

What is PayKar’s AEPS service?

PayKar, a B2B fintech platform headquartered in Patna, Bihar, offers Aadhar Banking (AEPS) services to its network of local retailers and agents. Through this, merchants can facilitate basic banking functions—cash withdrawal, deposit, balance enquiry, Aadhaar‑to‑Aadhaar fund transfer—and mini statement services using just the customer’s Aadhaar number and biometric authentication 

These services run on micro‑ATM/PoS devices deployed at neighborhood kiosks or kirana stores, enabling access even in rural or underbanked areas 

AEPS: How it works

  • AEPS is a system developed by NPCI and regulated by UIDAI/RBI that enables interoperable banking across banks using Aadhaar biometric authentication.

  • Users provide their Aadhaar number and authenticate using fingerprint or iris scan at a micro‑ATM or PoS device managed by a Business Correspondent (BC).

  • Supported transactions include cash withdrawal (max ₹10,000 per transaction), deposit, balance enquiry, mini statement, and Aadhaar‑to‑Aadhaar transfers, subject to daily limits (usually ₹50,000).

  • Transactions are processed in real time via NPCI’s central switch, ensuring interoperability across banks

Why agents/retailers like PayKar offer AEPS

  • Financial inclusion: AEPS brings banking to remote, underserved communities via local stores with minimal infrastructure .
  • Revenue opportunities: Agents earn a commission for each transaction—withdrawal, balance check, fund transfer—even small fees add up .
  • Customer loyalty: Offering banking services can increase footfall and trust in PayKar‑enabled shops