Aadhaar enable payment process would be a payment service enabling monetary transaction through aadhaar amount authentication or fingerprint confirmation. AEPS is a brand new banking agency accepted by reserve bank of India. It's also employed for the inter-banking trade or interbank cell payment support (IMPS). The AEPS make it possible for trades through Aadhaar and biometric authentication and allow a client to execute the financial transaction on a micro-ATM offered by a banking correspondent.
AEPS services was assembled with a concept to expand financial and banking services without visiting a lender. Someone can perform banking trade by means of a method named Micro ATM in any AEPS payment supplier. Micro ATMs are basically a bank-led version where banking or business correspondents are accepted to present fundamental, crucial banking solutions to individuals through a very simple apparatus that authenticate digital trades via the Aadhaar identification system. The Micro ATM system is equivalent to POS hardware but includes an inbuilt, keypad, scanner and printer to permit for authentication via biometric data (fingerprint). A very simple procedure of incoming Aadhaar amount, pick the Aadhaar connected a bank accounts and confirmation via fingerprint is all it takes to process transactions through the AEPS Micro ATMs.
Aadhaar enable payment method
AEPS Service on the Cell program
The AEPS system empowers virtual trades through the Aadhaar identification system, through a easy smartphone program and program also works only together with a fingerprint scanner. To be able to leverage the solution, AEPS brokers need to enroll with the AEPS support by distributing e-KYC details. After eKYC is finished, agents can quickly start AEPS support to their walk-in client via a cell program.
The workflow with this simple yet powerful payment system would be as follows:
AEPS Agents may begin AEPS support by completing an e-KYC procedure with the application admin).
A client can perform banking trade at AEPS service supplier by inputting his/her 12- digit Aadhaar amount, and the program will draw the linked bank account and the client will have to decide on the bank account where the payment is to be created (if there are lots of bank account connected to the Aadhaar accounts ).
Greatest Commission Structure.
Card-less PIN-less trade
Safe and protected Because of biometric authentication
Funds are obtained immediately Because of IMPS transport (24 x 7)
Balance question
Money deposit
Money withdrawal
Fund move
Get beginning AEPS support to the business partners or agents and begin earning commission on banking transactions. We supply AEPS support in our b2b business portal together with cellular recharge program .
