Summary: AEPS is a modern payment method introduced to empower Indian citizens. This bank-led model is an efficient digital solution to meet financial & banking needs.
Here, we will discuss about AEPS and its benefits. How to apply for AEPS registration? How to become an AEPS agent? How can you earn a good income as an AEPS agent, AEPS distributor, or AEPS retailer?
There is no denying that digital payment has helped India to prosper and grow. Still, there are many people, especially from rural areas who follow the traditional financial system- i.e. cash.
Some Acronyms
AEPS: Aadhaar Enabled Payment System
NPIC: National Payment Corporation of India
UIDAI: Unique Identification Authority of India
RRN: Bank Reference Number
AEPS, being a novel payment method, enables banking services in rural and unbanked areas of India provided Aadhaar number should be linked with the bank account. Since 2016, it has earned a remarkable name in the Indian market and outdid well during the COVID-19 pandemic.
Did you know?
About 379.83 million transactions happened through AEPS solely in the month of February this year itself.