Which is the Best AEPS Service Providing Company in India?
The Aadhar enabled payment system is a payment method that uses the Unique Identification Number and allows an Aadhar holder to carry out coherent financial transactions through appropriate authentication methods. The Aadhar enabled payment system aims to bring together people from all sections of society to make all financial transactions available to everyone. AEPS or the Aadhar enabled payment system is a simple and easy platform to conduct various financial transactions such as fund transfer, cash deposit, withdrawals, balance inquiry, and more. AEPS banking has become a popular mode of transaction, especially in rural areas. If you want to engage with your customers, it is time to adopt the best AEPS service provider.
In India, various companies offer AEPS payment but Finacus is one among them that offers a seamless solution. Finacus is one of the leading providers of financial technology in the country. The master in offering customized solutions to your financial institution. They also offer an Aadhar based payment system to merchants. Let us see how the AEPS works
Let us first understand how the AEPS works
To carry out the transaction you go to a micro ATM near you or a banking correspondent who provides AEPS service.
Now, Provide your unique Aadhar number linked to your bank account.
The service provider will enter your unique Aadhar number to initiate the transaction. Once entered choose the type of transaction you want to conduct.
Provide a fingerprint or an iris scan to authenticate the AEPS transaction.
The transaction will be over within a few seconds so you can collect your receipt.
Benefits as a service provider
Setting up a micro ATM and giving your services to the following consumers might give you a number of advantages as a service provider.
Banks can reach unbanked areas with very less investment.
It can play a major role in achieving financial inclusion goals for social and economic development in India.
The usage is safe and secure with multiple authentication options with basic technology.
APES is based on demographic and biometrics information of an individual, it eliminates the threat of any fraud and non - genuine activity.
AEPS facilitates disbursement of Government entitlements like NREGA social security pension and other government schemes of any Central or State Government bodies using aadhaar authentication.
AEPS facilitates inter - operability across banks in a safe and secure manner.
Enable reaching the unbanked areas, providing financial services to them through the network of BCs
The FinAEPS from Finacus is an immediate Aadhaar based online platform that bridges the AePS interface managed by the National payment corporation and paves the way to conduct Aadhar based payment efficiently. The FinAEPS acts as a switch of the bank’s financial transaction side that is linked to the core banking solution. You can use the Fin AEPS in various as in following
• Business Correspondent Model
• Agent Banking through Micro-ATMs or Tablets
The Aadhar enabled payment system has been placed among India’s top payment systems. Start earning an income today by procuring your payment system from the AEPS service provider company, Finacus. Contact our executives today to get your hands on the demo and experience the real potential of the AEPS system.
