AEPS Abbreviation

Looking for AEPS abbreviation? We have got you covered in this guide. We have listed down different possible abbreviations of AEPS in various groups like Business, Associations & Organizations, Electronics, Technology, Governmental, and Military and Defence.

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Popular abbreviations of AEPS:

Searching for AEPS abbreviation / AEPS full form leads to different results in different categories. The below table illustrates the popular acronyms among them.

aeps-full-form

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What does AEPS mean?

The Full form of AEPS is Aadhar Enabled Payment System. The AEPS is one of the government-approved payment systems. Payment is being done through this method based on the UID number. With AEPS you can make cash payments, withdraw and deposit cash, transfer funds and do many other kinds of transactions. Learn the AEPS’s full form in banking, its uses, functions, and more from this article.

What is AEPS full form in banking?

The AEPS full form is the Aadhaar Enabled Payment System which is used as a kind of payment system which functions with the help of a Unique Identification Number (UIDAI).

The Aadhaar users are in a privileged position when they use AEPS because with the Aadhaar authentication process they can make endless transactions. The payment system also needs verification of Aadhaar at different PoS (Point of Sale) and micro ATMs.

It’s an initiative taken by NPCI for undertaking a cashless transaction in Indian territory.

Guidelines for Using AEPS.

The AEPS (Aadhaar Enabled Payment System) requires five steps for fulfilling the transaction process.

  • Step 1. First, you have to visit either a correspondent bank or a micro ATM.
  • Step 2. Then you have to input your Aadhar number and the name of the bank.
  • Step 3. Select the convenient transaction type for your payment.
  • Step 4. Then you give the verification details either through an iris scan or through the fingerprint.
  • Step 5. At the end of the transaction, don’t forget to collect the receipt.

Why do we choose AEPS?

There are multiple reasons behind choosing AEPS as a convenient means for transactions. Some of the most known reasons are:

  • AEPS payment system is the most convenient and easy way of functioning.
  • It’s one of the most secure ways of making payments.
  • It can be used as the safest means for operating across banks.
  • It also supports financial inclusion and helps in the underbanked section of Indian society
  •  Aadhaar Enabled Payment System, the AEPS full form helps the bank users of all account types to access their account with Aadhaar authentication.
  • It also facilitates the functioning of the government schemes like NREGA, social security pension, etc.

What can you do with AEPS?

AEPS helps in the working of the following operations-

  • The C2B and the C2G payment transactions.
  • Inquiring about the bank balance.
  • Making cash deposits.
  • The transfer of funds from one Aadhaar holder to the other.
  • Withdrawing of the cash.

Conclusion

Thus, as an initiative to promote cashless transactions or the digital India movement, the idea of AEPS with the support of micro ATMs was implemented. The AEPS transaction system works with the help of an IIN number, fingerprint, or Aadhar number. This article addresses the questions related to AEPS full form, benefits, and scope of operation.

Frequently Asked Questions(FAQs)

How to initiate the AEPS services? 

Answer – For acknowledging the functions of AEPS, they primarily have to link the bank number with the Aadhaar number. For queries you can contact the respective bank authorities they will help you to solve the queries regarding this.

Is it mandatory to have AEPS for beneficiaries to receive funds? 

Answer- No, as per the rules and regulations the beneficiary doesn’t need to have an AEPS system.

Anyone without an Aadhar card can access the service?

Answer- No, those who can’t have an Aadhaar card will not be able to access the service.

All Abbreviations of AEPS in 9 categories:

If you are looking for AEPS meaning in a specific category, check out the detailed sections below. We have segregated the acronyms based on their category and grouped them in each section.

AEPS abbreviation in Business:

What does AEPS mean in Business category? We have listed down 2 abbreviations. Here are the details:

Term Abbreviation
AEPS Aadhar Enabled Payment System
AEPS Alternative Energy Product Suite

AEPS abbreviation in Associations & Organizations:

What does AEPS mean in Associations & Organizations category? We have listed down 2 abbreviations. Here are the details:

Term Abbreviation
AEPS Ankleshwar Environmental Preservation Society
AEPS Applied Evolutionary Psychology Society

AEPS abbreviation in Electronics:

What does AEPS mean in Electronics category? We have listed down 1 abbreviations. Here are the details:

Term Abbreviation
AEPS Army Electronic Product Support

AEPS abbreviation in Technology:

What does AEPS mean in Technology category? We have listed down 2 abbreviations. Here are the details:

Term Abbreviation
AEPS Assessment Evaluation And Programming System
AEPS Advanced Electric Propulsion System

AEPS abbreviation in Governmental:

What does AEPS mean in Governmental category? We have listed down 4 abbreviations. Here are the details:

Term Abbreviation
AEPS Alternative Energy Portfolio Standard
AEPS Arctic Environmental Protection Strategy
AEPS Advanced Electronic Support Product
AEPS Advanced Energy Portfolio Standard

AEPS abbreviation in Military and Defence:

What does AEPS mean in Military and Defence category? We have listed down 2 abbreviations. Here are the details:

Term Abbreviation
AEPS Aircrew Escape Propulsion System
AEPS Automated Electronic Product Support

AEPS abbreviation in Academic & Science:

What does AEPS mean in Academic & Science category? We have listed down 1 abbreviations. Here are the details:

Term Abbreviation
AEPS Aurora East Pit South

AEPS abbreviation in Job Title:

What does AEPS mean in Job Title category? We have listed down 1 abbreviations. Here are the details:

Term Abbreviation
AEPS Aviation Employee Placement Service

AEPS abbreviation in Space Science:

What does AEPS mean in Space Science category? We have listed down 1 abbreviations. Here are the details:

Term Abbreviation
AEPS Advanced Electrical Power Systems

Frequently Asked Questions (FAQ)

Q. What is the abbreviation of AEPS in Business?
Aadhar Enabled Payment System | Alternative Energy Product Suite

Q. What does AEPS stands for in Associations & Organizations?
Ankleshwar Environmental Preservation Society | Applied Evolutionary Psychology Society

Q. What is the AEPS meaning in Electronics?
The meaning of AEPS is Army Electronic Product Support in Electronics category.

Q. What is the abbreviation of AEPS in Technology?
Assessment Evaluation And Programming System | Advanced Electric Propulsion System

Q. What is the abbreviation of AEPS in Governmental?
Alternative Energy Portfolio Standard | Arctic Environmental Protection Strategy | Advanced Electronic Support Product | Advanced Energy Portfolio Standard

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