IPPB introduces service charges for Aadhaar Enabled Payment System (AePS)

IPPB introduces service charges for Aadhaar Enabled Payment System (AePS)
IPPB introduces service charges for Aadhaar Enabled Payment System (AePS)

IPPB introduces service charges for Aadhaar Enabled Payment System (AePS) – India Post Payments Bank (IPPB) has introduced Aadhaar Enabled Payment System service charges (AePS), which will be in effect from June 15, 2022.

  • Aadhaar Enabled Payment System service charges (AePS) is a bank-led model which allows online interoperable financial inclusion transactions at PoS (MicroATM) through the Business correspondent of any bank using the Aadhaar authentication.
  • It will also allow to do six types of transactions.

IPPB AePS service charges

  • The first three AePS issuer transactions each month including cash withdrawal, cash deposit, and mini statement, will be free of cost or will be not charged.
  • After the three transactions, AePS issuer cash withdrawals and cash deposits will be charged at ₹20 plus GST per transaction, and mini statement transactions will be charged at ₹5 plus GST per transaction.

Aadhaar Enabled Payment System (AePS)

  • Cash Deposit
  • Cash Withdrawal
  • Aadhaar to Aadhaar Fund Transfer
  • Authentication
  • BHIM Aadhaar Pay
  • Balance Enquiry
  • Mini Statement

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