Aadhaar Enabled Payment Service or AEPS, is an Aadhaar based payment solution which empowers bank users to carry out financial transactions (without any debit card/credit card/ cheque book) using only their Aadhaar card, registered with their bank account, and biometric authentication. AEPS agents and distributors can provide basic banking services to their customers such as cash withdrawal, balance inquiry and obtaining a mini statement. It is an initiative by NPCI (National Payments Corporation of India) to support unbanked and underbanked sections of India.
AEPS serves as a foundation of all Aadhaar enabled Banking Services. Another goal it tries to achieve is the digitisation of retail payments. It is a lucrative business opportunity which solves a real banking problem especially for customers living in areas where banks are at larger distances. Using our AEPS Agent login, agents have the opportunity to earn up to 7-10 rupees per transaction, depending on the number of transactions done. AEPS agents can easily earn around 800-900 rupees per day. AEPS Distributors have the chance to earn Rs.50,000 monthly.
Once the AEPS Agent registration is done, your Biznext AEPS Agent login id will be generated. The process of AEPS is very simple.
- The AEPS Agent connects and installs a biometric device to their Computer or Smart phone.
- Agent inputs the Customer Aadhaar number and the bank name.
- 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 the merchant’s Biznext wallet account is credited real time along with additional commission amount.
- The AEPS Agent then receives a transaction receipt and the customer receives an SMS confirmation from the bank.