Aadhaar Enabled Payment System (AePS)
AePS is an NPCI-operated, bank-led system for supported banking transactions at business-correspondent and micro-ATM touchpoints using Aadhaar authentication.
FedACH, RTP, FedNow, Fedwire, CHIPS, NPCI, NACH, APBS, AePS, BHIM Aadhaar Pay, CTS, NETC, and NFS payment-system concepts.
These pages cover named payment infrastructure and operator roles in the United States and India. FedACH provides Federal Reserve ACH operator services; the RTP network and FedNow Service are separate U.S. instant-payment systems; Fedwire Funds Service is the Federal Reserve Banks’ U.S. dollar real-time gross settlement service for wire payments; CHIPS is a private U.S. high-value payment system; NPCI operates retail-payment systems in India; NACH handles high-volume Indian batch credits and mandate-backed debits; APBS routes eligible bulk credits using Aadhaar-to-bank mapping; AePS supports eligible Aadhaar-authenticated banking services at participating touchpoints; BHIM Aadhaar Pay supports purchases at enabled merchants; CTS clears cheque images and data; NETC connects FASTag issuers with electronic toll-plaza acquirers; and NFS routes shared ATM transactions. Generic electronic fund transfer coverage belongs in the separate EFT article.
Use these pages when a payment record names a specific system or national payment body rather than a generic bank transfer or wire.
| Term | Use it for |
|---|---|
| FedACH Services | Federal Reserve ACH operator processing, including files, inter-operator exchange, scheduled settlement, returns, Same Day ACH, and designated settlement accounts. |
| RTP Network | The Clearing House’s continuously available U.S. credit-transfer system, including prefunded positions, payment responses, final settlement, receiver availability, and return requests. |
| FedNow Service | Continuously available U.S. instant credit transfers, including receiver confirmation, final settlement, beneficiary availability, returns, requests for payment, and cycle dates. |
| Fedwire Funds Service | Federal Reserve Banks’ real-time gross settlement of eligible U.S. dollar credit transfers, including message status, master-account entries, finality, beneficiary posting, and return requests. |
| CHIPS | High-value U.S. dollar payment clearing context and participant records. |
| National Payments Corporation of India (NPCI) | RBI-authorized Indian retail payment-system operator, including its role across UPI, IMPS, NACH, RuPay, AePS, CTS, NETC, member institutions, and transaction records. |
| National Automated Clearing House (NACH) | Indian batch clearing for bulk credits, mandate-backed debits, file and item status, returns, and reconciliation. |
| Aadhaar Payment Bridge System (APBS) | NACH component for eligible bulk benefit credits routed through Aadhaar-to-bank-IIN mapping, destination-bank account posting, returns, and reconciliation. |
| Aadhaar Enabled Payment System (AePS) | Aadhaar-authenticated banking services at participating business-correspondent and micro-ATM touchpoints, including the distinction among authentication, bank authorization, account posting, and physical cash. |
| BHIM Aadhaar Pay | AePS-based merchant purchases using Aadhaar authentication, including acquiring and issuing roles, customer debit, merchant confirmation, adjustment, and reconciliation. |
| Cheque Truncation System (CTS) | India-specific image and MICR-data clearing among presenting banks, the NPCI-operated clearing house, and drawee banks, including continuous clearing, returns, settlement, and paper custody. |
| National Electronic Toll Collection (NETC) | Interoperable FASTag toll payments connecting the vehicle, plaza, issuer, acquirer, NPCI switching, customer debit, clearing, settlement, and dispute records. |
| National Financial Switch (NFS) | Shared ATM transaction routing among acquirers and issuers, including cash-dispense evidence, customer posting, clearing, net settlement, reversals, and disputes. |
Start with the named system, not the generic payment label. System-specific rules, participants, operating hours, settlement design, and jurisdiction can change the meaning of a payment status.
Choose a subsection first. Deeper term pages live inside each subsection, which keeps large topic hubs readable.
AePS is an NPCI-operated, bank-led system for supported banking transactions at business-correspondent and micro-ATM touchpoints using Aadhaar authentication.
APBS is India's NACH component for routing eligible bulk benefit credits using Aadhaar-to-bank mapping, with bank posting, returns, and reconciliation.
BHIM Aadhaar Pay lets eligible customers pay enabled merchants from Aadhaar-linked bank accounts using biometric authentication and participating banks.
CHIPS is a private U.S. dollar clearing and settlement system. Learn how payment release, netting, prefunding, finality, and bank posting differ.
FedACH Services process U.S. ACH credit and debit files through the Federal Reserve Banks. Learn the operator flow, settlement, Same Day ACH, returns, and controls.
FedNow Service settles U.S. instant credit transfers through Federal Reserve accounts. Learn the payment flow, finality, availability, returns, and risks.
Fedwire Funds Service is the Federal Reserve's real-time gross settlement system. Learn how messages, master-account settlement, finality, and bank posting differ.
NACH is India's centralized batch clearing system for high-volume interbank credits and mandate-backed debits such as payroll, benefits, loan payments, and bills.
NETC is India's interoperable electronic toll-payment system, connecting FASTags, toll plazas, issuer and acquirer institutions, clearing, settlement, and disputes.
India's National Financial Switch routes interoperable ATM transactions among acquirers and issuers and supports clearing, settlement, reversals, and disputes.
NPCI is an RBI-authorized payment-system operator that runs major Indian retail payment infrastructure, including UPI, IMPS, NACH, RuPay, and other systems.
The RTP network is The Clearing House's instant U.S. credit-transfer system. Learn how payment release, prefunding, finality, availability, and returns work.