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What is AEPS? How It Works & What Are It’s Benefits
Aadhaar Enabled Payment Service or AEPS, is an Aadhaar based payment solution which allows AEPS Agents to provide basic banking services such as cash withdrawal, cash deposit, balance inquiry and obtaining a mini statement. It is an initiative by NPCI (National Payments Corporation of India) to support the Financial Inclusion Plan of unbanked India. It empowers bank users to complete financial transaction without any debit card/credit card or cheque book, using only their Aadhaar card (registered with your bank account) and biometric authentication.
How it works:
- Agent registers with Sec2payIndia for AEPS Digital Banking Service.
- The Sec2payIndia AEPS Agent then connects and installs a biometric authentication device to his Computer or Smart phone, as per ease and availability.
- Customer provides their Aadhaar number and their Bank Name to the person.
- Agent selects the transaction type: Cash withdrawal or Balance Inquiry.
- The customer then inputs their thumb print (same as per Aadhaar) to authenticate the transaction.
- The customer’s account is debited and merchant’s Sec2payIndia wallet account is credited real time along with additional commission amount.
- The AEPS Agent then receives a transaction receipt and customer receives an SMS confirmation from bank.
Benefits of AEPS
- Completely Secure & Safe Payment Method.
- No need to carry Debit/Credit Card or any Cheque book.
- Simple to do, just need your Aadhaar number.
- Easily withdraw the money, without visiting any ATM.
- Avoid standing at long queues at the Bank or ATM.
- No need to travel to long distances, visit any nearest Sec2pay AEPS Agent.
- Quick process, takes only a minute to complete the transaction.
For AEPS Retailer, AEPS Distributor & White label partner
- Minimum Investment with Maximum Return.
- Only requirements to set up business, are a Smart phone & Biometric Device.
- Earn Attractive Commission per transaction.
- Real-time Instant Settlement of every transaction.
- Available both in Web and Application.
- Quick process, takes less than a minute to complete the transaction.
- Full utilisation of cash in hand.
AEPS Agents, now with Sec2pay India have the opportunity to earn up to 12 rupees per transaction, depending on the volume of transactions done.With Sec2pay, you will get instant wallet settlement and Instant commission more the volume, greater the commission.
Sec2pay AEPS Distributors have the chance to earn up to Rs.50,000 monthly.All that the distributor needs to do is signup/register with us and appoint agents under him. Higher the number of AEPS agents he appoints more is the income on daily basis as he gets real-time commission on every transaction done by his appointed agents.
AEPS serves as a foundation of all Aadhaar enabled Banking Services. Another goal it tries to achieve is digitisation of retail payments. With the increase in usage of digital financial services, the need for cash withdrawal is only going to increase manifold with time. Hence, it is good a business opportunity with very less investment.
Start Aadhaar Enable Payment System (AEPS) Service at Your Own Retail Shop
Aadhaar card is the biggest identity for being the citizen of India. But it is not only used for identification but one may do cashless transaction with it with Sec2payIndia AEPS service. Digital payments, once born out of convenience, became a necessity for everybody .The Indian government is additionally encouraging the digital transaction through digital India projects. To make your business easy all you need to do is AEPS agent registration with Sec2pay.
All you need to know about Sec2pay India AEPS
Aadhaar Enabled Payment Service or AEPS, is an Aadhaar based payment solution which allows AEPS Agents to provide basic banking services to their customers. Customers can avail services like cash withdrawal, balance inquiry and obtaining a mini statement. It is an initiative by NPCI (National Payments Corporation of India) to support the Financial Inclusion Plan of unbanked India. It empowers bank users to complete financial transaction without debit card/credit card or cheque book, using only their Aadhaar card (registered with their bank account) and identity verification- biometric authentication.
What are the services that can be operate using Aadhaar Card (AEPS Service) :-
With help of your Aadhaar card you can operate many basic banking activities which are known as AEPS services. There are following AEPS services:-
- Cash Withdrawal
- Balance Inquiry
AEPS Services for Customers:
- 100 % Safe & Secured transaction & Payment Method.
- All you need to carry is your Aadhaar Card which is linked with your bank account.
- No need to carry Debit/Credit Card or Cheque book.
- Without visiting any ATM you can easily withdraw cash from your AEPS Agent.
- End of standing in long queues at the Bank or ATM.
- Visit any nearest AEPS Agent. No need to travel to know your balance.
- Takes only a minute to complete the transaction.
All you need to do is:-
- Make sure your bank account is linked with your Aadhaar card.
- Visit your nearest verified Sec2pay service provider- the verified AEPS Agent
- You need to provide your Aadhaar card number which has been linked with your account.
- The AEPS Agent will be asking you what kind of transaction you will be doing.
- The AEPS Agent processes the activity and all you need to do is to verify your transaction through fingerprint impression- biometric authentication. A biometric reader is connected to AEPS hardware.
- The AEPS software sends all the details to NPCI and your verification details are checked by them.
- Therefore after all these steps within a matter of few minutes your desired transaction is completed.
- The Agent also provides you a receipt for you transaction as a proof.
AEPS Services for AEPS AGENTS & AEPS DISTRIBUTOR:-
- Minimum investment with Maximum Return.
- Earn Attractive Commission per transaction.
- Engage more customers by providing financial solutions.
- Quick process as it takes less than a minute to complete the transaction.
All you need to do to become an AEPS Agent & AEPS Distributor:-
- You are required to register with Sec2pay for AEPS ID to offer AEPS Services to your customers.
- Fill a form and register with Sec2pay today. Share your Aadhar and Pan card details.
- Once, verification process is completed, you will get Sec2pay ID to use AEPS service.
With the rise in usage of digital financial services, the necessity for cash withdrawal is merely visiting increase manifold with time. Hence, it is good a business opportunity with very less investment. Therefore make your business easy with Sec2pay!