What is AEPS?
AEPS (Aadhar payment system) is a new aged payment system that permits the Aadhar card holder to carry out banking transactions. It is an NPCI approved initiative that empowers all sections of society by making banking facilities available to them using their bank account linked aadhar easily, without spending a lot of money on setting up the infrastructure.
What is meant by Cardless Secure AEPS Cash withdrawal?
→ Aadhar card cash withdrawal facility allows bank users who have Aadhar card to withdraw their cash at any retail store near you that has a licence to carry out Aadhar Payment transactions.
→ Here, any person needs to visit an authorised AEPS agent and tell him the amount that he wishes to withdraw along with his Aadhar number and biometric punch.
→ The authorised agent will carry out AEPS transactions easily and provide you with cash in 5 minutes.
→ AEPS cash withdrawal system is introduced to make the facility of cash withdrawal easily available in all parts of the country.
→ It enables the user to withdraw money without the use of a physical debit card.
→ It is a secure way to do cash transactions from a bank account without using any physical card etc.
What are services offered through the AEPS system?
The following are the services that can be offered through the AEPS system:
– Cash withdrawal service
AEPS system allows the users to withdraw cash through Aadhar authentication and biometric punch.
– Balance Inquiry
Through the AEPS system, users can check their current bank balance
– Mini Statement
Using the Mini statement, one can check their balance post the transaction to confirm the appropriate amount has been withdrawn.
What are the objectives and scope of bringing AEPS?
The followings are the objectives and scope of the Aadhar Payment system:
– AEPS system aims to bridge the gap between rural and urban areas by availing basic banking facilities to them
– AEPS system helps in realising the dream of the digital India
– AEPS aims to fasten the process of financial inclusion
– AEPS system also creates the employment opportunity amongst the young rural folks
How to do AEPS Portal Registration?
For a quick AEPS Portal registration to become an AEPS agent, follow the below given steps:
– Download Biznext Mobile application from your playstore
– Login, using your phone number and OTP
– Complete the process of E-KYC
– Activate your service of AEPS from the service panel on left-hand side
– To know more about same contact them at 022 42123123