According to UN reports, India, expected to become the world’s most populous country, faces the enormous challenge of achieving full Financial Inclusion. Making formal financial services more accessible and used actively is key to making them convenient, affordable, and reliable. However, many Indians are still excluded, hindering sustainable development goals. To tackle this, the Indian government has introduced various policies and regulations, such as promoting financial literacy, micro-financing, differentiated banking, and innovative FinTech products. Additionally, India has created a digital infrastructure that offers cost-effective, robust, and user-friendly financial solutions.

This article examines AePS, a service provided through a digital financial inclusion effort by the National Payments Corporation of India (NPCI).

Aadhaar Enabled Bank Accounts (AEBA): The Gateway to AePS

To use AePS (Aadhaar Enabled Payment System), customers need an Aadhaar number and a bank account. Government programs like the Pradhan Mantri Jan DhanYojana (PMJDY) have significantly increased the number of people with bank accounts in India. Since PMJDY started in 2014, over 46 crore new bank accounts have been opened, showing the program’s success. Additionally, AePS requires the bank account to be linked with the Aadhaar number to confirm ownership. These linked accounts are called Aadhaar Enabled Bank Accounts (AEBA). With an AEBA and their Aadhaar number as ID, customers can access various financial services offered by AePS.

How to Choose AePS  Provider?

It is important to choose a well-known name in the field of AEPS who provides frictionless, reliable, and highly secure transactions in the broadest network coverage, along with integrated technical support, assured efficient processing of transactions, and assurance of regulatory compliance. Following are some key features that should be taken into consideration while taking an AEPS service provider:

Reliability – A reliable and trustworthy environment involves end-to-end encryption of data, protection against fraud, and unauthorized access.

Bigger coverage for the audience – Also, a reputed and credible AEPS service provider has a wide, vast network of Micro-ATMs, so an individual uses the AEPS service even in the most distant areas or the remote.

User experience – It must have a friendly interface with navigational widgets, including responsive design, to guarantee security and safety in any transaction. Some more features that make it unique are multilingualism supporting languages and providing transaction history and status.

Speed and Scalability – In this respect, an appropriate AEPS service provider can process any bulk volume of transactions but will consume less time for users’ experiences. It integrates seamlessly.

How to Become AePS Agent:

There are a few reputed service providers like Religare who enroll/register AePS agents through which you can provide your clients the AePS services. The advantages of registration with Religare are that you get multiple banks to choose from, services on weekends and holidays, and training and marketing support.

Now that we have explored the importance of AePS providers and how to choose the best AePS provider, let’s explain the steps to become an AePS provider:

4. Promote your business: Once your AePS agent registrationis complete, promote your use in your community and target market. Use marketing channels such as local advertising, word of mouth, and social media to reach potential customers.
5. Provide excellent customer service: Provide exceptional customer service to build trust and confidence among customers

If you wish to pursue a career in Aadhar Enabled Payment System Registration, feel free to visit Religare Digital.

Source:- https://aphelonline.com/pertinent-facts-about-aeps-the-aadhar-enabled-payment-system/