What is AEPS?
AEPS (Aadhar-enabled payment system) is an NPCI-initiated payment mechanism that allows an Aadhar card holder to make banking transactions like cash withdrawals, balance inquiries, check mini statements, and much more through their unique Aadhar-linked bank account.
Why was AEPS service started?
The main purpose of starting AEPS service in India is to make basic banking facilities easily available in all the parts of the nation where banks and ATMs could not reach because of the high cost of operations and no returns due to less and scattered population.
Apart from solving the problem of banking infrastructure, AEPS is also used by the government for financial inclusions i.e to make government-allocated funds to reach the rightful citizen under various schemes or policies.
There are many FinTech companies that have started their own AEPS portal. However, below is the list of the Industry’s best AEPS portals:
- Biznext
According to a study conducted, Biznext is the industry’s best Aadhar enabled payment system app as it offers 13+2 rupees commission on every transaction of AEPS which is around 20% more than any other portal. - NSDL payment banks
NSDL Payment Bank is an Indian Non-Government company. This company is based out of Mumbai and has operations in the entire Nation. This company is known for its speedy AEPS transactions and low downtime - Fino Bank
Fino bank is a popular FinTech company that is known for microfinance, MSMEs, credit, and banking facilities for the entrepreneurs of the country. This company has a great distributor portal for AEPS with a strong support and technical team. - Spice money
Spice Money is a leading rural fintech company that empowers merchants and nanopreneurs to build a successful cash withdrawal business by offering them AEPS portal access at a cost and offering a good market commission - Paynearby
Paynearby is the biggest in this segment that works on building a strong network of AEPS. This company offers 25+ other services with AEPS and has a fee to begin with. - Paytm AEPS
Paytm being a well-known FinTech company has started its new venture in the AEPS industry. Despite the fact that it is relatively new, it has gained popularity because of its user-friendly portal. - RapiPay
Rapipay has made a good market position in the FinTech industry because of its strong marketing and industry understanding skills. This company has always been in the news for their work and has provided AEPS service to its patrons. - Bankit
Bankit as the name suggests is a mobile banking application that offers multiple services at an easy click to its users. They offer a user-friendly AEPS portal. - Ezulix
Ezulix is a new name in the industry and is slowly building the AEPS users with their aggressive marketing and network building. - Ezeepay
Ezeepay is an emerging AEPS portal that has managed to deliver value and has met all the requirements of its associated partners.
Apart from commission, Biznext offers a FREE Retailer ID and the most updated dashboard wherein you can check your income, and volume of transactions, get tips to earn more, and widgets that can help you win exciting gifts like a laptop, AC, TV, fridge, etc.
Also, this portal offers great marketing assistance to its associated distributors and white-label partners.
While choosing from the above, we would recommend to go with Biznext as it gives aeps agent registration free of cost, and has the most advanced portal in today’s time. They give world class service and the aadhaar enabled payment system app is frequently updated with new features.
