How AEPS Makes Cashless Transaction in Future
AEPS (Adhar Enabled Payment System) is makes cashless transaction for people that provides our best or secure financial transaction. We know, In India cyber crime and online fraud increased daily that reduced our trust in online transaction. So, our government introduced the AEPS (Adhar Enabled Payment Service) that secure our financial balance and provides secure and smooth transaction.
In this article we provide the detailed information about the AEPS (Adhar Enabled Payment System) and make best aeps portal or best aeps service .
Contents of the Blog:
Understanding AEPS
AEPS (Adhar Enabled Payment System) is a product launched by NPCI (National Payment Corporation of India). AEPS provides the adhar to adhar functionalities, cash deposit, balance enquiry, cash withdrawal etc. Digital India initiative provides AEPS as a cashless transaction. AEPS is the bank-model that allowed all customers perform financial transaction using their adhar number. AEPS service is required only adhar number and your finger authentication, and you provide adhar number that linked with your bank account. In future AEPS service is mainly used for all online transaction. It uses the Micro-ATM for AEPs transaction.
Now, we understand backbone of AEPS that is NPCI and UIDAI and how these are connecting to each other.
- NPCI
- UIDAI
- How AEPS connect with NPCI and UIDAI
NPCI refer to National payment Corporation of India and it is an organization that in introduced in 2008 by Payment and Settlement System Act, 2007. It is used for manages and promotes customer transaction system in India. NPCI program launched by the Reserve Bank of India (RBI) and the Indian Bank’s association (IBA) to operate the secure customer payment. NPCI goals to secure online transaction, financial service and efficient and accessible payment.
UIDAI refer to Unique Identification Authority of India and it is introduced by Indian Government in July 2016 under the Adhar Act 2016.UIDAI provide a UID (Unique identification numbers) to all the people of India. UID defines the Indian identification in all over the world UID also known as Adhar.
AEPS is Adhar Enabled payment system that is interlinked with the NPCI and UIDAI both are backbone of AEPS service. NPCI provide the AEPS and UIDAI makes the all document requirement in AEPS. We using AEPS service we have adhar card, it define the identification of Indian with biometric details and NPCI provides the all features of AEPS service.
What is working process of AEPS?
If you are using best AEPS service or best aeps portal, firstly we have adhar card that are linked with bank account. When you are linking Adhar card with your bank account with their fingerprint then UIDAI verify your biometric authentication. After this process you will access AEPS (Adhar Enabled Payment System) service.
Best AEPS service portal provides both online and offline service. Here, we are exploring both online AEPS services and Offline AEPS services.
- Online AEPS Service:
- Visit AEPS service site
- Register or login your account
- Enter your bank account details.
- Apply fingerprint.
- Withdrawal money
- Confirmation SMS with your registered mobile number.
- Offline AEPS Service
- Using Bank Correspondent (BC’s):These are individual or organization that provides the AEPS service with two requirement adhar number and fingerprint authentication. You can visit BC’s for AEPS transaction.
- Using Micro ATM:Micro-ATM is small device that is used for cash withdrawal, cash deposit and other banking service using biometric authentication. It is mostly used in remote areas, when traditional ATM is not unavailable. This Micro ATM is most beneficial to all people. In future all marketplaces uses the Micro ATM for secure online transaction.
In aeps registration online service, we provide the Mobile App or website for using AEPS service. It is most beneficial for saving time. Online AEPS service uses easy in the following steps:
Online process is used when you have the fingerprint authentication device with proper internet connectivity. Otherwise you cannot use AEPS online service.
In offline AEPS service, we provide the Bank Correspondent and Micro ATM. It is easily used without the internet connectivity. Offline AEPS service used in the following manner:
For more information of AEPS registrationClick Here!!
What Services provided by Best AEPS portal ?
AEPS provides different financial services based on Aadhaar card authentication. Following are the services provided by AEPS:
- Cash Withdrawal:Customer can withdrawal money from their adhar linked bank account using biometric authentication.
- Cash Deposit:Customer can deposit cash into their adhar linked bank account using biometric authentication.
- Balance Enquiry:Customer can check their bank balance through biometric authentication.
- Fund Transfer(Adhar to Adhar):Money can transfer between two adhar linked accounts. It is most suitable for those people who have limit access to traditional bank account.
- Mini Statement:Customer can show their recent transaction to monitor recent activity.
- Bill payment:Customer can pay bills such as electricity bill, Gas bill etc from adhar linked bank account using biometric authentication.
- Micro ATM service:Customer can use APES service as Micro ATM where banking perform transaction like withdrawal, deposit on behalf of banks.
What is the Requirement of APES Service?
Best APES service portal provide hassle free secure online transaction Following are the requirement of the AEPS service:
- Adhar Card: Firstly you make UID (Adhar Card) that provide your identification.
- Bank Account: You can create a bank account in any APES service provider bank.
- Adhar linked with Bank Account: you can link adhar card with your existing bank accoun
Which banks offering AEPS services?
- Yes Bank
- Axis Bank
- RBL bank
- ICICI Bank
- Maharashtra Gramin Bank
- Fino Payments Bank
Benefit of AEPS Service
- Safe and Secure: AEPS service ensures safe and secure because it trusted platform that secure our financial transaction. It required biometric authentication and adhar number that secure our bank account. AEPS does not support OTP system when you deposit cash and withdrawal money.
- 24/7 availability: Customer can access their bank account through AEPS agent or Micro ATM in remote areas in anytime.
- Support Government Schemes: Government support AEPS service for their schemes and transfer money in adhar linked bank account.
- NO Extra Charges: AEPS transaction does not pay any extra charge for withdrawal or deposit cas
Best AEPS portal –JustPayOn
JustPayOn provide secure and safe online transaction through AEPS service. This platform provides biometric authentication linked adhar card with their existing bank account. And JustPayOn provides best aeps portal with aeps cash withdrawal, deposit cash, aeps balance enquiry and paying online bill through biometric transaction. JustPayOn is service provider that makes our AEPS transaction secure and provide best apes portal. It not required any extra charge for online transaction. It provides affordable and accessible digital payment. It makes AEPS as a cashless transaction in future. So you can use JustPayOn for secure and safe AEPS transaction.
For detailed information visit Here!!
Conclusion
AEPS makes Cashless transaction in future trends. It makes our financial transaction secured and safe and it provide user friendly user interface that easily interact with the customer in anytime and anywhere. Best AEPS service does not provide any OTP system or any duplicity for any transaction. It minimizes the risk of cyber fraud and cyber crime. In digital India AEPS transaction makes most efficient platform for financial inclusion, cashless economy etc. APES integration technology increased economic growth and development.