Either you are a business correspondent or admin or working as NBFC, AEPS transaction is a very familiar term for you. Every small or medium enterprise that are offering banking services through AEPS, is always worried about AEPS transactions. They always try to boost AEPS transactions so that they can earn higher commissions. Here I will tell you how micro ATMs is helping small owners to get rise in AEPS transaction as well as profit.
Before explaining the role of micro ATMs in AEPS transactions, we have to understand micro ATM.
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What is Micro ATM?
Micro ATM is a compact device that is used to perform basic banking transactions. Its working is quite similar to traditional ATMs. This is a small machine through which you can perform cash deposits, cash withdrawals, balance enquiry and mini statements.
Micro ATM machine was invented to taking banking services closer to customers as doorsteps. So that they can use banking services easily and effectively. Although this is a small device that performs all banking transactions, it reduces the installation & operation cost of service in comparison to banks or ATMs. In return, the bank distributes commissions to each business correspondent as well as NBFCs who are helping in providing banking services.
In AEPS service, customers use Aadhaar card and fingerprint authentication to perform the transaction while in micro ATMs customers can use debit cards to perform the same transactions as AEPS. Commission on both AEPS and micro ATM is similar. In short, we can say, micro ATM is also part of AEPS.
How Micro ATM is helping in Rising AEPS Transactions?
AEPS stands for Aadhaar enabled payment system. AEPS system allows bank customers to perform basic banking transactions through aadhaar authentication. Customers whose aadhaar card is linked with a bank account can use AEPS service through a unique Identity number. AEPS service is started by NPCI to create cashless society in India.
AEPS is helping people in rural areas to use banking service hassle-free. Every banking transaction that is performed is known as AEPS transaction.
Banks provide commission on each and every AEPS transaction. In short, we can say as much as AEPS transactions performed by any financial entity will earn higher profit.
Aadhaar authentication is making AEPS transactions very easy and safe in rural and semi-urban areas where banks and ATMs are not available.
But in case, when any customer doesn’t have aadhaar card or fingerprint authentication is not working?
Or you lived at a place where aadhaar card is not activated like Aasham.
At this situation, micro ATMs plays a vital role.
Micro ATM allows banking transactions through debit card. Customer can deposit, withdrawal money using debit card through micro ATM.
Today millions of business correspondents are using micro ATM to withdraw or accept payments. Small Kirana stores or retail shoppers are using micro ATMs in rural areas to provide banking services as extra income opportunities.
This is the reason an exponential hike in AEPS transactions due to micro ATM.
Which is the Best Micro ATM Service Provider?
So if you are looking to boost your AEPS transactions and searching for the best micro ATM service provider, Ezulix software is the best option for you.
Ezulix Software is a leading AEPS service provider company in India. We provide you advanced micro ATM machine integrated in our AEPS portal. Our new micro ATM machine is updated with add-on mPOS features.
It means now merchants can use micro ATM as well as mPOS in same device. Our micro ATM machine allows all types of cards to perform transactions. Along with this, merchants can easily connect devices to the admin mobile app through Bluetooth.
If we talk about a commission, we provide you the highest commission, with zero downtime and 24*7 real-time settlements. Lifetime free technical support helps you to run your business smoothly and successfully.
Conclusion
So here we learned what is micro ATM, how it is helping in boost AEPS transactions and which is the best micro ATM service provider company in India.
So if you are planning to start your own mini banking business, Ezulix software provides you all in one banking solutions under a single roof. Along with this you can offer multiple services by integrating b2b API solution in our portal.
I hope this article will help you to understand the role of micro ATM in AEPS transaction rise. For more details about micro ATM, visit my blog or apply for a free live demo.
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