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 Biznext for AEPS Digital Banking Service.
  • The Biznext 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 Biznext 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

For Customers:

  • 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 Biznext AEPS Agent.
  • Quick process, takes only a minute to complete the transaction.

For AEPS Agent & AEPS Distributor:

  • 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.

Commission Structure:

AEPS Agents, now with Biznext have the opportunity to earn up to 7-10 rupees per transaction, depending on the volume of transactions done. AEPS agents easily earn around 800-900 rupees per day. With Biznext, you will get instant wallet settlement and more the volume, greater the commission. Please click For Biznext AEPS Agent Free Registration,

Biznext 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. For further details, visit us at http://biznext.in/.

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