ELI5: Explain Like I'm 5

Aadhaar Enabled Payment System

Aadhaar enabled payment system (AEPS) is a way to use your Aadhaar card (a unique identification card issued by the government of India) to make payments and receive money. It works like this: when you go to pay for something, you can use your Aadhaar card to unlock your bank account. Then, your bank will verify your identity and make the payment from your bank account. This way, you don’t need to carry any money or cards with you, and you can make payments easily at any store or online.