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Aadhaar enabled Payment System - AEPS

The full form of AEPS is Aadhaar-enabled Payment system, it’s possible to do online financial transactions at Micro ATMs or Point of Sales (PoS) terminals. For this system to work, the person's bank account needs to be linked with their Aadhaar.

Acknowledging the need for Financial Inclusion, RBI created two working groups- one on Micro ATMs regulated by standards set by RBI and UIDAI and another on Bank Led Model which integrates Aadhaar authentication. PoC demonstrated that this model provides a fast and efficient way to quickly reach the underbanked population.

AEPS

AEPS Registration Eligibility

Here are some of the eligibility criteria you should consider before registering for the Aadhaar enabled Payment System (AePS).

  • You should be above 18 years of age.
  • Your qualification should be a minimum 10th pass.
  • Person from any profession can be a part of this business.
  • You should be able to execute the basic marketing activities.
  • The applicants should free from any criminal cases..
  • You must have a basic knowledge of computers.
  • Your store area should be 200 sq ft.
  • They should have experience of Acconting and Banking.

Why should you open AEPS?

There are several reasons why you should open a Aadhaar enabled Payment System (AePS).

  • profitable business

    One reason is that it can be a very profitable business. Aadhaar enabled Payment System (AePS) charge a fee for providing various services related to Cash Deposit, such as Cash Withdrawal and Aadhaar to Aadhaar Fund Transfer. This fee can be quite high, and so the business can be quite profitable.
  • save time and money

    Another reason to open a AEPS service is that it can help businesses save time and money. By providing various services related to Banking. This can save them a lot of time and money, which can be used to grow their business.
  • Minimum Cost

    AEPS service are a great way to get your own business up and running quickly and with minimal start-up costs.
  • Highest earnings

    Overall, opening a AEPS services can be a very profitable and helpful business venture. It can help businesses save time and money, and provide them with various services related to banking.
  • Right Franchise

    There are many reasons why you should consider opening a Aadhaar enabled Payment System (AePS). If you are looking for a convenient way to comply with your banking services, then a Aadhaar enabled Payment System (AePS) is the right choice for you.

Location of an AePS Centre

When choosing a location for your AePS Centre, it is important to consider the foot traffic in the area. You want to choose a location that is easy for people to find and that has a lot of foot traffic. This will help you to attract more customers to your business.

Another important factor to consider when choosing a location for your AePS centre is the rent price. You want to choose a location that is affordable so that you can keep your operating costs low.

Once you have found a suitable location, you will need to obtain the necessary permits and licenses from the local authorities. This is important in order to ensure that your business is legal and compliant with all regulations.

How To Open AePS Centre

Opening an AePS Centre is relatively easy to start with M-Fins. We will quickly help you establish your business in a few days.

If you are ready to start your AePS Centre, then get in touch with us by filling the contact us form.

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