AePS

 

AePS

Background

• In order to further speed track Financial Inclusion in the country, Two Working Groups were constituted by RBI on MicroATM standards and Central Infrastructure & Connectivity for Aadhaar based financial inclusion transactions with members representing RBI, Unique Identification Authority of India, NPCI, Institute for Development and Research in Banking Technology and some special invitees representing banks and research institutions.
• The working group on MicroATM standards & Central Infrastructure & Connectivity has submitted its report to RBI. As a part of the working group it was proposed to conduct a Lab level Proof of concept (PoC), integrating the authentication & encryption standards of UIDAI, to test the efficacy of MicroATM standards and transactions using Aadhaar before they are put to actual use. The PoC was successfully demonstrated at various venues.
• AePS is a bank led model which allows online interoperable financial inclusion transaction at PoS (MicroATM) through the Business correspondent of any bank using the Aadhaar authentication.AePS allows you to do six types of transactions.
• The only inputs required for a customer to do a transaction under this scenario are:-
  1. Bank Name
  2. Aadhaar Number
  3. Fingerprint captured during enrollment.

Objectives

• To empower a bank customer to use Aadhaar as his/her identity to access his/ her respective Aadhaar enabled bank account and perform basic banking transactions like cash deposit, cash withdrawal, Intrabank or interbank fund transfer, balance enquiry and obtain a mini statement through a Business Correspondent
• To sub-serve the goal of Government of India (GoI) and Reserve Bank of India (RBI) in furthering Financial Inclusion.
• To sub-serve the goal of RBI in electronification of retail payments.
• To enable banks to route the Aadhaar initiated interbank transactions through a central switching and clearing agency.
• To facilitate disbursements of Government entitlements like NREGA, Social Security pension, Handicapped Old Age Pension etc. of any Central or State Government bodies, using Aadhaar and authentication thereof as supported by UIDAI.
• To facilitate inter-operability across banks in a safe and secured manner.
• To build the foundation for a full range of Aadhaar enabled Banking services.

Banking Services Offered by AePS

• Cash Deposit
• Cash Withdrawal
• Balance Enquiry
• Mini Statement
• Aadhaar to Aadhaar Fund Transfer
• Authentication
• BHIM Aadhaar Pay

Other Services offered by AePS:

• eKYC
• Best Finger detection
• Demo Auth
• Tokenization
• Aadhaar Seeding Status 

• What is Aadhaar Enabled Payment System (AEPS)?

  Aadhaar enabled payment system is the type of payment system which allows a bank customer to use basic banking facilities without going bank or ATM. By using Aadhaar based payment system, a bank customer can get the advantage of all banking and financial facilities using his/her Aadhaar card and fingerprint authentication. This is a new edge of payment system which empowering cashless transaction habit in India and also supporting the Digital India project. Aadhaar payment system is started in 2016 by the Indian government to create a cashless society in India. It is effectively driven and control by NPCI (National Payment Corporation of India) under the surveillance of RBI (Reserve Bank of India).

  Understand Aadhaar Enabled Payment System App (AEPS Pay)?

  Aadhaar enabled payment system app or AEPS pay is the best tool for cashless banking and financial transaction in 2020. AEPS pay is an android based mobile application which uses AEPS e-KYC service. This is basically used by merchants, shopkeepers, and Business correspondents of banks for offering cashless banking and financial services to customers. It is making easy to accepting payments by shopkeeper just by a few steps. It is a fast, easy, and safest method of payment through the Aadhaar card. In short, we can say AEPS app is empowering cashless transaction habits by its stunning payment method and reliability factor.

  What is Digital Payment?

  Digital payment also is the part of AEPSservice. If we talk about digital payment I have to go on the work process of AEPS service. In the AEPS service process customers have to go on business correspondence (BC) for the banking actions. They required aadhaar number and fingerprint for the action. In this case, they enter their aadhaar card number in the AEPS app by which their bank account is connected, then after approval, they have to use fingerprint as authentication or we can say as pin or code. Here Merchant sends all the details to NPCI and if all the details right and authenticated the transaction takes place. So in this whole process, no physical cash transaction occurs. Everything is done digitally, that’s why it is also known as digital payment.Looking for Best AEPS Service Provider Company in 2020?

  If you want to start a mini banking service at your shop or center you need AEPS softwareor AEPS app from any registered and authenticated AEPS service provider company.

  I think you are a little bit confused about AEPS service provider company, like which company is good or not?

  Here I will try to solve your problem

  Yes, it’s true

  Definitely, you want a company or a service provider which is best, which services are excellent, which support system is outstanding and which is approved and authenticated.

  If you have the same desire regarding your AEPS service provider company, I would like to suggest a company that fulfills all these desires. I am talking about Gramin Seva Kendra AEPS software which is the best AEPS service provider company in India. Over the last few years, Gramin Seva Kendra is the most emerging company in India in AEPS service, recharge and app development. We have a wide range of potential customers all over India. Today we have 350+ active portals and 10,0000+ active members all over India.

  Gramin Seva Kendra is one of the best AEPS software provider company in India. You can start your own AEPS banking service with us as Admin and can offer cashless banking & financial services to your members. Our skilled and experienced professional team developed a new AEPS portal based on the latest technology. Earlier you had to settle the AEPS transaction amount to your members but in updated portal agents can directly settle their wallet using our new AEPS payout service. 

  Along with this, in the advanced portal, you can offer AEPS service through Yes Bank AEPS API, Fino Bank AEPS API and ICICI bank AEPS API. This will help you to make your service better. Although our advanced AEPS portal is fully customizable, you can change everything just by Drag & drop. So these are some latest features that we had updated in new portal which will help you to boost your AEPS transaction. Which Service You Can Offer Using AEPS Portal?

  By using Gramin Seva Kendra advanced AEPS portal, you can offer all basic banking services to your down line members which are following.

  • Cash Withdrawal

  This is the most basic banking service which you can use through AEPS service. As a customer, you can withdrawal the amount from your bank account by visiting your nearby business correspondent. You can withdrawal money up to 10,000 in a day through 5 transactions. You can perform cash withdrawal just by using Aadhaar card and fingerprint authentication.

  • Balance Enquiry

  By using AEPS service, you can check your bank account details without visiting an ATM or bank.

  • Mini Statement

  This is a new service recently added in Gramin Seva Kendra AEPS portal in which you can find the last 5-10 transaction details using a mini statement service.

  • Micro ATM

  Along with AEPS, you can now offer Micro ATM service to your members in which they can withdraw cash using debit cards. Micro ATM is quite similar to ATM service in which you can use debit cards and PIN to withdrawal money.

  • Aadhaar Pay Service

  This is the last but the least. Earlier you can withdrawal only 10,000 rupees in a single day. Now by using Aadhaar pay service, you can withdrawal up to 100000 rupees in a day. This is the reason today this is the most trending service in the CSC business industry.

  So these are all the services that you can offer to your members by using the Gramin Seva Kendra AEPS portal. Hereby using this service, you earn a commission on each and every transaction.

  Features of Aadhaar Enabled Payment System?

  There are many important and useful features of Aadhaar enabled payment system which make it more favorable and trending in the market. 

• AEPS offers you the facility to use basic baking activities without visiting bank or ATM 
• You can withdrawal cash from your bank account by using Aadhaar card and fingerprint authentication
• If we talk about security, AEPS is the safest & secure online transaction platform at present
• It helps to connect most of the rural areas of our country to the banking services 
• Now no need to remember ATM pin or Password or bank account details 
• It helps to create a cashless society in India
• Shopkeepers can use this service to accept payments like PayTM and PhonePay
• It is the simplest way to withdraw money 
• Very easy to use 

• Hello everyone, I hope you are great and enjoying the moment. Today I am here with the top 10 aeps service provider company list that will surely help you to choose best one.

  So If you are thinking about starting your own AEPS business as Admin and looking for the best AEPS service provider then this article is perfect for you.

  If you are aware about AEPS business and want free guide about AEPS, Book Free Demo Now. Here our team direct connect with you and provide you with complete details about AEPS business and software solution.

  So without wasting time I come to the point.

  What is AEPS?

  AEPS full form is Aadhaar enabled payment system. This is a unique bank system that allows banking through a unique Identity number. By using AEPS service, a bank customer can access all banking facilities without going bank or ATM.

  To use AEPS service through Aadhaar, customers primary bank account must be linked with Aadhaar card.

  In short, we can say this is the new way of banking where you need an Aadhaar card to use banking than digital cards.

  This Aadhaar banking system is most popular not only in rural areas but also in urban and semi-urban areas.

  AEPS was the best option for banking in the Covid-19 phase where all banks and ATMs are closed. After Covid-19, AEPS transactions break all records and supported a cashless society in India.

  Why AEPS Service Started?

  The main motto behind starting AEPS service is to provide banking facilities to all sectors of society. Before the AEPS system, there were plenty of places in India with a lack of banks and ATMs. This is the reason people was unable to contribute in the economy.

  The government understood all the problems and invent AEPS services based on Aadhaar. This was the master stock by the government that changed the foundation of banking in India.

  Today a big part of the population use banking through AEPS and contribute in the economy. Along with this, AEPS generated huge employment. Anyone can start their own AEPS business and can make it a handsome source of Income.

  Today I will explain to you how you can start your own AEPS business and can make it a source of 6 figure income.

  Top 10 AEPS Service Provider Company

  Here is the top 10 AEPS service provider company list.

  • Ezulix Software (No 1 AEPS Company)
  • ICICI AEPS
  • Fino Payment AEPS
  • Paytm AEPS
  • Yes Bank AEPS
  • Spice Money
  • Paynearby
  • Fritware
  • IGglobal
  • NamoPay

  This is all AEPS company list that covers most of the market. No 1 AEPS company is Ezulix Software that is a well-known brand today in India. You can start your own AEPS business with Ezulix as Admin and can create your own BRAND with a handsome amount of Income.

  Why Ezulix Software is Top Brand in India?

  Ezulix software is the leading AEPS service Provider Company in India. Today we have 600+ active portals and 10 lac active members all over India. Our skilled and experienced professional team developed advanced AEPS software with updated features.

  • We provide you standard AEPS software based on latest  technology
  • Our b2b aeps software is fully customized
  • You can create unlimited members in your down line
  • Admin has all control on software, wallet and members
  • We provide you lifetime free tech support
  • You can provide AEPS service through multiple banks
  • Success ratio is 99.7%
  • We provide you manual training so that you can understand software easily
  • You can provide all basic banking services like aeps cash withdrawal, cash deposit, balance enquiry, fund transfer, mini statement, aadhaar pay, payout and UPI collection
  • We offer you highest AEPS commission as per NPCI norms
  • Our portal is easy to use, fast and highly secured
  • Unique design allows you to attract more members
  • You can add-on all offline services free
  • Along with portal, we provide you website and mobile app
  • Members can take 24*7 real-time settlement using express payout

  So these are a few points that will help you to choose the best AEPS portal. Along with this, you can also apply for a free live demo so that you can understand our system and can make a decision.

  Conclusion

  So here we discussed aeps service provider company list and which is the best AEPS service provider.

  You can also add on multiple services in your AEPS portals like mobile recharge software, utility bill payment and money transfer software and can boost your incomes.

  I hope this article will help you to make any fruitful decision about the AEPS service provider.

What is Aeps application? 

Aadhaar Enabled Payment System (AEPS) is a payment service that allows a bank customer to use Aadhaar as his/her identity to access his/her Aadhaar enabled bank account and perform basic banking transactions like balance enquiry, cash withdrawal, remittances through a Business Correspondent.

How do I register for Aeps service? 

Some of the major requirements are: 1) Your Aadhaar Number 2) Your Fingerprint 3) Your Name or Bank IIN (Issuer Identification Number) Thereafter, in order to get your AEPS agent registration free and do money transactions easily, all you need to remember is your Aadhaar number

Searching for an opportunity where you have to invest less and have chances of earning more? If yes, then here is the answer for you. Aadhar Enabled Payment System is a new payment service which is offered by the National Payments Corporation of India to the banks and other financial institutions by using Aadhar. It is based on Unique Identification Number and enables Aadhar cardholders to effortlessly make financial transactions by Aadhar based authentication.

AEPS system focuses on empowering all the sections of society by making banking and financial services available to everyone by Aadhar. It is an Aadhar-enabled payment system by which you can transfer funds, deposit/withdraw cash, make payments and much more. AEPS service can be availed at Customer Access points which are controlled by Business Correspondents by using Point of Sale devices.

For every transaction that is done, either inter-bank or intra-bank, one transaction receipt would be printed and given to the customer as a transaction record with its complete status, by the BC from whom the transaction was done.

Want to know about the benefits of using AEPS? As it would help you in explaining the customers of making payment through AEPS. Some of its major benefits to you and your customer are-

• It is a safe and secure process
• User-friendly
• Approved Payment system
• Safe money transfer
• Bank account holders can access their bank accounts by Aadhar Authentication
• Just 2 things required for initiating a transaction which is Aadhar number and biometric information
• Inter-operable among numerous banks
• Works as a mini ATM

After reading these benefits, you would be thinking that how can you earn through this method and where would you get the POS device from? GST Suvidha Kendra is one such company that offers AEPS services all over India and joining it can benefit you immensely.

GST Suvidha Kendra- One-stop-shop for financial services

It is one company that is transforming lives by digitizing cash. They are touching the lives of people by providing them with financial services by a cost-effective platform including POS delivery, mobile, and web. There are a lot of financial services that they provide for making day to day life easy for people such as GST services, accounting, audit, travel, bill payments and much more.

If you join GST Suvidha Kendra as an agent for AEPS you can earn a tremendous amount of money with minimal investment. The major advantage of joining GST Suvidha Kendra is that they believe in making work simple and easy for their customers, which can be your foremost point of attracting more people, thus it would ultimately lead to increased revenue.

How you can get AEPS from GST Suvidha Kendra?

The first thing that comes to mind after reading about AEPS and GST Suvidha Kendra is that are you eligible for getting it? If yes, then how can you get AEPS from GST Suvidha Kendra? Here are the eligibility criteria for you-

• Any Indian Citizen
• No Education obligation
• Full Time/ Part Time/ Work from Home
• Have access to the internet by computer/phone

If you are eligible then you just need to provide 1 copy of PAN card and Aadhar card along with 1 Passport size photo. If your application gets approved you would get a call from GST expert or an email confirming the same. Once the application gets approved you would have to pay an amount of Rs.20,000 if you want to take the basic license and if you wish to take the Super License for that you would have to pay Rs.24,000.

The good news for you is that you would get a lot of benefits if you pay this fee, which would make you feel great and a complete value for money. Some of its benefits are-

• You would get access to the software and the Login page both, where you would be able to place fresh orders.
• They would provide you with Rs. 100 discount on all the services. Say for example, if the GST registration fee is Rs. 600, and your commission is 50%. With this coupon, you have to pay fees of Rs. 500.
• Training Material
• Promotional Material
• You will be provided with the promotional material like user manual, CRM instruction manual, information kit about the services, etc.
  Training and Support
• You would be given training for four days so that you become well versed with the process
• Round the clock help Desk either by phone, mail or ticket support

These were the few perks that you would get paying the fee and this information must have made you feel relieved and happy. You must be thinking about the commission structure now as to how much would you be paid on each transaction done by the customer.

Commission and Earning

This is the most exciting part of the information. Here is the list of commission structure for you-

Thus, for each transaction done by the customer, you would get a 1.25% commission on that. It means that there is a lot of scope for earning money through AEPS if you become a member of GST Suvidha Kendra. If you want you can also calculate your monthly income using GST Calculator, by this, you would get a fair idea of how much money you can earn every month.

For earning more and more commission, you just need to convince your customers to make payment through AEPS. You would get the POS machines, customer juts need to put their Aadhar number and authenticate the transaction by using their biometric data