What is AEPS ?
AEPS stands for "Aadhaar Enabled Payment System." It is a type of payment system that allows bank customers to use their Aadhaar number and fingerprint or iris scan to perform banking transactions like cash withdrawals, deposits, balance inquiries, and fund transfers.
In an AEPS transaction, the customer visits a Micro-ATM (Automated Teller Machine) or a banking correspondent, and provides their Aadhaar number and biometric details. The system verifies the customer's identity and links it to their bank account. The customer can then perform various transactions using their biometric details instead of a physical debit card.
AEPS transactions are useful for people who do not have easy access to traditional banking services, such as those living in remote or rural areas. It enables them to perform basic banking transactions conveniently, quickly and safely using their Aadhaar number and biometric details.
If an AEPS transaction fails, there are a few steps you can take:
Check your bank account balance: If the transaction failed due to insufficient funds, you may need to deposit money into your account to complete the transaction.
Contact your bank: If the transaction failed due to technical issues or system failure, you should contact your bank's customer service or visit your nearest bank branch to report the issue and get assistance.
Wait for the transaction to be reversed: Sometimes, in the case of a failed transaction, the amount debited from your account may be reversed automatically. However, it may take some time for the reversal to reflect in your account balance.
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Lodge a complaint: If the issue is not resolved even after contacting your bank, you can lodge a complaint with the banking ombudsman or the National Payments Corporation of India (NPCI).
It is important to note that in the event of a failed transaction, you should not attempt to perform the transaction again immediately. You should wait for some time and ensure that the amount debited from your account has been reversed before attempting the transaction again.
If you a AEPS user and AEPS Transaction fails, there are important to handle the Customers:
For example: Today a customer comes to your shop and asks to withdraw money through the AEPS. You withdraw money or at the same time it is Aadhaar or bank's server is down, then the money is debited from the customer's bank account but does not come in your wallet or the transaction was failed.
Now you make a big mistake at this time and lie to the customers that our bank's server is not working right now. After that the customer goes through your documents but after that the owner of the customer service center tells the truth that you have withdrawn your money from the money you had just withdrawn, so much money has been debited from your bank account. After that the customer will come to you and quarrel, this is for sure. When the transaction fails then why for all the customers when the customer comes to know from any shop that the money has been withdrawn, he will never trust you again, whenever he has to withdraw cash next time, he can go to any shop. So the best way to handle the customer is to tell the truth to the customer in such a situation. NPCI and Reserve Bank of India have clarified in the guidelines that whenever there is a problem due to server issue at such time, the money is credited to the customer's bank account only in 7 bank working days.
I have attached the PDF File plz download and read all the details NPCI and RBI.
NPCI Guidelines Download Link: Click Here
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