What is AEPS Offus Transaction?
AEPS Offus transaction is a type of transaction conducted through the Aadhaar Enabled Payment System (AEPS) where the transaction is initiated and completed at a location different from the bank’s home branch. In other words, an AEPS Offus transaction is a transaction that is not performed at the bank’s own premises.
An AEPS Offus transaction is usually conducted through a micro ATM or an authorized banking correspondent (BC) who acts as an intermediary between the customer and the bank. The customer provides their Aadhaar number and undergoes biometric authentication, which is then processed by the BC or micro ATM to complete the transaction.
AEPS Offus transactions are especially useful for individuals living in rural or remote areas where traditional banking facilities may not be easily accessible. With AEPS Offus transactions, customers can access and manage their financial services without having to travel to their bank’s home branch.