Aadhaar Enabled Payment System is a way to get money from the bank account. This system of getting money neither requires your signature nor Debit card. You don’t even need to visit a bank branch for getting money through the Aadhaar Enabled Payment System
Benefits for Customer:
- Customer can perform financial and non-financial transaction through Sec2Pay retailer outlet.
- There is no need of signature or debit card.
- It is fast and secure.
- No one can forge your fingerprint.
Transactions Through the AEPS:
The Aadhaar Enabled Payment System gives you banking facility on the go. However, It gives you only basic services. These 4 services can be done through the AEPS.
- Balance Enquiry
- Cash Withdrawal
- Cash Deposit
- Aadhaar to Aadhaar Funds Transfer
The only inputs required for a customer to do a transaction under this scenario are:-
• IN (Identifying the Bank to which the customer is associated) • Aadhaar Number
Before starting this business you must have:
PC or Laptop or Tablet or Smart phone with internet connectivity.
What does the retailer get?
- Biometric thumb impression machine
- Logo/Stickers/Leaflets/Contact Matrix • Commission Structure
Documents required to start business.
• Application form
• 2 passport size photo’s
• PAN Card (Mandatory)
• Id Proof (Voter id/Driving License/Passport etc.)
• Shop Address proof
• Resident address Proof (electricity bill, ration card etc.)