What is AePS? Where and When it can be Beneficial?
AePS is Aadhaar based payment system. This payment system is launched by the government of India under the National Payments Corporation of India (NPCI) and was initiated by RBI. It is a bank-led model that allows online transactions using Aadhaar authentication. AePS enable the following six types of transactions:
· Cash withdrawal
· Cash deposit
· Balance inquiry
· Mini statement
· Aadhaar to Aadhaar fund transfer
· Aadhaar pay
Any customer having a bank account linked to Aadhaar can enjoy the facilities of this amazing service by visiting an AePS agent or business correspondent having AePS portal. Here, you can make your payments easy using your Aadhaar card and fingerprint detection. There is no need for any bank details such as account number and IFSC code, only bank name, type of transaction, and transaction amount need to be given.
Now the question arises where it could be advantageous? Suppose, if you go to a retail shop to purchase some household items but you forgot to take your credit/debit card and don’t have enough cash, then AePS is the best option for you. Nowadays most people carry a soft copy of their Aadhaar on their phones.
Become AePS API Service Provider with our user-friendly API & SDK
We at RBP Finivis developed a user-friendly API & SDK with which you can facilitate the best AePS API services to your clients. So, as an AePS API Provider, we are offering you a wide range of FinTech APIs that can be integrated with business correspondent’s payment portals or they can create something of their own with their brand name and logo.
If you are willing to buy API from RBP Finivis Pvt. Ltd. you can feel free to reach us by visiting our website – https://rbpfinivis.com or you can directly contact us via Email – email@example.com Toll-free no. – 1800-4196-571
Benefits of AePS API to Customers
There are many advantages of this system. Some of them are:
· It works with biometric authentication, so it is safe and free from fraudulence.
· There is no need to remember any pin or password
· Instant payments without a Smartphone
· Service available 24*7
· Make payments and do cashless shopping
· Instant complaint resolve
· Easy refund, in case of any technical issue
The 21st century is a technology-friendly era. Here we are living in a world where life is hassle-free due to the advancement in technology. With this advancement, our government thought to take banking services towards digitalization. With the support of NPCI and RBI Aadhaar Enable Payment System was launched in India to offer basic baking services to remote areas. As bank branches are not often available in remote areas, so to sort out their issues various AePS API Provider Companies developed customized APIs. These APIs are delivering innovative services to the common man. Apart from this offers opportunities to unemployed people to start their business and earn income with lots of offers and schemes.