HomeNewsBankingIPPB 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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