Aadhaar enabled payment system (AEPS) is a new payment system which is basically based on Aadhaar card number and enables customer for cashless transaction. AEPS helps customers to perform basic banking transaction including fund transfer, cash deposit, cash withdrawal, balance enquiry and mini statement. This was the first initiative towards cashless society from Indian government.
Best AEPS Portal for Admin | Aadhaar Payment System
This project was initialized in January, 2016 when Indian government linked all bank accounts with individual Aadhaar card numbers as unique identity.
AEPS facilitate us to perform basic bank transactions without visiting any ATM or bank. All you need is your Aadhaar card linked with your respective bank account.
Aadhaar card shows your unique identity and verifies your finger print impression which works as a pin. There is no need to remember any pin code like in case of debit or credit card.So this was a brief about AEPS, Let’s discuss it in more detail. Keep reading for interesting knowledge about AEPS which can be your upcoming business start up idea.
How to Use Aadhaar Enabled Payment System (AEPS)
There is zero technical knowledge needed to use AEPS service. Any individual who wish to start his/her own AEPS portal can use AEPS easily.
- Visit any micro ATM or any bank correspondent (BC) who are providing AEPS service.
- Provide your Aadhaar card number
- Select bank name
- Choose the transaction type
- Scan your finger on fingerprint scanner attached to the device
- After successful authentication, your transaction will be completed
- You will receive transaction slip on every transaction
Let’ go through the steps involved to use AEPS
These are few simple steps which are used for any basic bank transactions. AEPS is simple, user friendly and secure portal which makes banking more reliable. Do you know how really this system works, surely this question might be hitting in your mind. Let’s elaborate this topic..
How Aadhaar Enabled Payment System (AEPS) Works?
Whenever any customer visits micro ATM or any Business correspondent (BC) or AEPS service provider, he/she provide unique identity number and bank name.
Then he scans his finger on finger print scanner for authentication. After that BC shares these details with NPCI (National Payments Corporation of India).
They check the ID and UIDAI (Unique Identification Authority of India) to confirm the customer identity. Funds of connected account are also checked.
Now the action is performed. This is the root process of Aadhaar Enabled Payment System (AEPS).
Which Services are Provided in Aadhaar Enabled Payment System (AEPS)?
Basically, Aadhaar Enabled payment System (AEPS) provides many basic financial transaction services which are mentioned below-
By using AEPS service you can withdrawal amount directly from any of your bank account by using Aadhaar card and finger print authentication.
Most of the population using AEPS service to withdrawal cash in rural areas. Today this is easiest way for cashless transaction via Aadhaar card which making it more favorable. You can withdrawal up to 10,000 per day via 5 transaction limit.
You can hand over your cash to your nearest AEPS service provider and the cash will automatically get deposit in your bank account.
Select Cash deposit as transaction type and enter amount after selecting the bank. Your cash will automatically get deposit in bank.
Now you can check your account balance details by visiting your nearest BC (business correspondent).
To check balance enquiry, you need your Aadhaar card and bank name. You can check account balance details just in 3 steps by using AEPS service.
This is latest service launched by NPCI in which you can check your account mini statement details easily. You can export your last transactions details by using Aadhaar card through AEPS service.
Aadhaar Pay services allow bank customers to withdrawal cash more then 10,000/- rupees in a day or we can say as hihjest withdrawal limit set by your bank. This is the most trending service today using for cash withdrawal in AEPS.
This is the last but not the least. By using micro ATM, a bank customer can withdrawal cash using debit card.
This is an electronic machine, integrated with biometric. You can swipe your debit card and can use fingerprint as authentication for transaction.
Funds can be transferred from AEPS wallet to the respective bank account only. This feature is available only during the office hours.
This feature also provides AEPS real time settlement for retailers or any other AEPS service provider.These are all actions which you can perform through this Aadhaar enabled payment system (AEPS) service.
Features of Aadhaar Enabled Payment System (AEPS) :-
Now we know what this AEPS service is, how can we use it and how it is works? Here we will learn about the main feature and benefits of Aadhaar enabled payment system (AEPS) which makes it so reliable.
- Firstly, AEPS is very simple to use
- This is safe and secure process
- Fully customized AEPS portal (Change whenever you want)
- It is based on latest technology which fulfill all business needs
- Master API switching facility
- Its login and logout is the best security feature
- Now Admin can assign number of member IDs to their down line through Member Plan feature
- Every account has unique identity which makes it reliable
- We Instantly resolve customers complain through Ticket method
- Admin only offer those services which are required by the down line with manage service feature
- Admin can assign work and active feature for employees through employment management system
- Interoperable across multiple banks
- Our updated AEPS Portal is loaded with a lot of new features to provide seamless service to the customers
- You only required unique Aadhaar card number and biometric identification to perform action
- 3D code verification and OTP system integration
- Secure payment gateway by integrated API
So basically these are the top security features of Aadhaar enabled payment system (AEPS) which makes it safe, secure and user friendly for customers.
AEPS is Useful to not only Customers, but also for Service Providers
Most of the people are still in doubt that why should they provide AEPS service? Do they get benefitted? Is there a need of particular office or some place? Some wonder about the cost of starting AEPS!
- No need to waste time in long queues outside bank
- No need to cover long distance for bank or ATM
- 24*7 access to basic bank transactions
- Can withdraw money instantly
- Deposit money anytime
- Take a look at your last 10 transactions through mini statement
- Check your bank account balance
- 99.5% success ratio
- No hassle of swiping card and entering pin
- Safe & Secure payment method
We have answer for all the questions. Let us start with the customer benefits
- Low cost Investment throughout
- Zero technical knowledge needed
- Interoperable across various banks
- Instant fund settlement
- Earn high commission on every transaction
- Best transaction success rate with advanced technology and security
- Now Easy AEPS activation
- Active participation in promoting cashless society
- No need of particular office, can be started at your small shop also
- Convert your shop in a mini bank
These are the benefits that customer’s enjoy while using AEPS. Now let us see is there any benefit for service provider or not?
These are the benefits to both customers and service providers. Both of them get equal benefits from AEPS. To use AEPS a customer need only an Aadhaar card and a service provider needs a device with active internet.
It’s Not about Just Providing Software, It’s about Providing Quality Software
Ezulix software is one of the best AEPS software portal provider company in India over the last few years. This is the reason, today we have a wide range of potential customers.
If you are planning to start your own mini banking business as Admin, then this is best solution for you. You can start your own brand mini banking business with our advanced AEPS software portal and can make it a handsome source of Income.
By using our latest AEPS portal, you can create unlimited members as master distributor, distributor and retailer in your down-line. This will increase your commission as well as helpful in serving larger number of people.
So we can say that this is the best business opportunity which is growing very fast nowadays. All the transactions are performed online and we can also say ‘cashless’ transactions through this AEPS software.
Ezulix is the best AEPS Software provider company in India which provides funds in real time.
Secure your Panel Through Video KYC Feature
Market is growing faster with the faster growth of technology in India. Along with this increase, fraudulent activities are also increasing. To stop such activities and transactions in your business, we have launched Video KYC feature recently in our advanced AEPS portal.
This feature will help you to prevent fake profiles in your business portal. To understand its advantage, we have to go through its process.Whenever any new member joins you as a business partner, they have to go through this video KYC.
In which, they have to authenticate themselves through video KYC function. They can authenticate themselves through Aadhaar card, pan card, voter ID or Passport (one of them).
This is an advanced portal security feature which allows you to track your member’s identity and authenticity with proof.
How Agents Can Register For AEPS Service Activation
Earlier agents had to register for AEPS service by submitting manual KYC and they have to wait for approval by Admin. This process was quite time consuming and lengthy.
But now we have upgraded the system. Now agents can register for AEPS service through on-boarding KYC.
It enables agents to start AEPS service by just on-boarding their personal information like Name, Aadhaar card number, PAN Card number and other basic information.
This process is helpful in saving time and helps to enhance your brand visibility in the market.
Allow Members for Real-Time Settlement (24X7) Through Xpress Payout Service
Now you can provide 24*7 real time settlement facility to your members by using Ezulix AEPS portal. We have updated our portal recently with new Xpress payout feature to make your system unique and advanced.
Using Xpress payout, now your members can take real time settlement any time. They don’t have to wait for admin approval. They can take real time settlement just with a single click.
Conclusion -
Here I am wrapping up my article, I hope this blog will definitely help you to understand AEPS system, how to use it and how can you start your own business with this service.
I also want to suggest you India’s top Aadhaar enabled payments system software Provider Company so you can use this reference. For more business ideas and best services keep reading and have a look on my blog section for interesting articles.
