Aadhaar Enabled Payment System called AEPS is an electronic payment gateway which enables online payment of money using Aadhar data. The Aadhar Enabled Payment process is an initiative from the government that was established by NCPI enabling customers to access their Aadhaar enabled bank account using the Aadhar details. It was started with the view of speeding the inclusion in the country.
People do not need to mention their bank account information to execute these transactions. With the help of this payment system, people can send funds from 1 bank account to another simply via their Aadhaar numbers. As the system functions on a dedicated host, people can send money from their accounts to any account no matter the bank in which the receiver's accounts is operated.