India is constantly embracing new technology and moving towards the digital age, as well as banking services and financial services are playing a significant role in the field of business for industrialists as these facilities are offering colossal benefits with the least terms.
AEPS service is an instance of it that we see and use nowadays. There must be a question arising in your mind that what is AEPS and why this is beneficial for a business perspective? So today we are here to cover all the points regarding AEPS Service that will help you to identify its importance completely. So keep tuning with us till the end and if you have any query or suggestions, feel free to contact us.
Without wasting your time, let’s come to the article:
What is AEPS?
A bank LED model in which a user is able to make payments and transactions with their Aadhaar Card from their respective bank called AEPS, which is one of the major service launched by NPCI in 2016 to digitize India also known as Aadhaar based payment or Aadhaar Enabled Payment System.
Under the Digital India initiative, the Government of India introduced AEPS to make India cashless and to facilitate cash flow in rural areas where banks are not close or to make India corruption-free.
How many facilities you can reach into your area through AEPS service?
- Withdrawal money
- Balance Enquiry
- Mini Statement
This facility can be availed through Nearby AEPS Service Providers without going to bank or without using the bank passbook.
How does AEPS Service Works?
- The customer’s bank account should be linked with their Aadhaar Card for using AEPS Service.
- Any bank user can complete financial transactions by using their aadhaar card without any debit/credit card or cheque book.
- Customer needs to verify their identity through fingerprint impressions connected with AEPS Software for financial transactions.
- AEPS Software sends these details to NPCI and they verify complete details of customers like their account details and balance enquiry.
- If everything is correct, NPCI approves the request and the cash will be transferred from the customer’s account to AEPS Franchise’s account.
- After completing the AEPS Process, AEPS Franchise provides a receipt to the customer as transaction proof.
How can you start AEPS Franchise Business?
- First you need to complete the KYC Process to open your account.
- After KYC Completion, install a biometric authentication device or micro ATM device attached to your payment terminal or smartphone.
- Now you are ready to run your own AEPS Franchise Business in your locality and can earn huge commission by providing AEPS Service to your customers through Micro or Mini ATM device or biometric device.
How can you make profit as a merchant through AEPS service?
- It’s fully secure, easy to setup and very easy to use
- Often, there is still a shortage of banks in root areas or most people have to go far to complete bank-related work. Even if a bank is available, some people have to wait in long queues and AEPS is a very useful service for all such problems that can be started with minimal investment.
- Time is getting digital and cashless and the Government of India is also encouraging the cashless economy through the “Digital India Campaign”. The AEPS service is also a part of the same where anyone can withdraw money without going to the bank through AEPS, so if we move into the business with digital services, the customer footfall will increase.
- As the customer grows, you will make more and more transactions which will give you profit in the form of commission.
Well now you might be thinking that this article was for the best AEPS service providers, but why we have covered complete information about AEPS. Here we had a simple reason that anyone who is looking for New Business Start-up Opportunities in India but unaware of this service and wants to know the whole information about AEPS business like AEPS benefits, commissions and its process etc. that’s why we tried to put here all the essential topics regarding AEPS.
So now let’s talk about the Best AEPS Service Provider Company in India:
- There are many companies in the market that are claiming to be the best among the AEPS service providers in the market, but we all know that an authentic and reputable company is always better for the AEPS business.
- Dogma Soft Limited is catering to the needs of thousands of franchisees in this segment by providing the best AEPS service in India as the company is providing 100+ IT and FinTech services apart from AEPS Service.
- The vision of Dogma Soft is very clear to provide the best services to the franchisees so that they can become more and more empowered to make India cashless with deep-rooted areas.
- As we all know that today the world is continuously advancing in the online sector by defeating the offline sector, but on the other hand there are more cases of fraud being seen in this sector too, so here we are not just talking about AEPS business but also talking about other businesses. For which it is necessary that whichever company you are thinking of doing business with, then do a thorough investigation about that company before investing your money.
- For which it is most important that the company should be reliable and have its own office. In addition, the company is working with all the rules and regulations and has a good network in the market because the AEPS or online field is where you should work with the top companies as you will be working there fearlessly. So considering all these points in mind we can say Dogma Soft is one of the Best AEPS Service Provider Company in India having more than 1 lakh Business Franchise.
Types of AEPS Business and the Difference between them:
As we all know that franchise business plan is on trend nowadays and AEPS Business is also like the same but it is an online service so here we are going to tell you about AEPS franchise business but if you are unaware of franchise business plan and want to understand the difference between online and offline franchise, then you should check our other article where We have covered the entire topic about the franchise business.
Now let’s know about AEPS Franchise Business Model:
If you have chosen Best AEPS Services Provider Company or Top AEPS Company in India then one thing comes in everyone’s mind that which franchise model should we choose now Because there are mainly four types of franchise models, in which each franchise has different investment as well as their benefits and which are:
- Retailer Franchise
- Distributor Franchise
- Master Distributor Franchise
- Super Distributor Franchise
If you want to know more about the difference between these franchises models, like how much investment required, how many members you can add under you and how can you earn profits etc. So you can get whole the information about it from Dogma Business Plan Page.
I hope this article helps you to understand AEPS business and its importance. Kindly share this article with your friends, family and social media which will help them to choose The Best AEPS Service Provider in India.