The Indian government has been presenting numerous creative payment methods, plans and policies to bring a cashless society in India.
By 2016, 93% of grown-up Indians had an Aadhar card. But, as they were not connected with their bank account and many of them did not even have an account in a bank.
The Modi government was smart enough to open a record-breaking scheme resulted in newly opened bank accounts in India under “Pradhan Mantri Jan Dhan Yojna”.
Nearly 35 crore of Indians opened a bank account under the previously mentioned conspire.
Tier 1 and Tier 2 cities were adapting really fast to the payment systems, like various UPI applications, online bookings & shopping’s (Ola, Zomato, flipkart, practo etc..,)
But, people staying in villages were having a problem understanding these payment systems.
Again, the government came up with something called as Aadhar enabled payment system (AEPS).
What is an Aadhar enabled payment system?
Aeps is an innovative approach towards Aadhar payment system for accessing bank transactions without visiting a bank or ATM. To utilize Aeps service, customers’ bank account should be linked to Aadhar card.
HalliPay is one the best Aeps service provider in India with the recognition of RBI (Reserve Bank of India) and NPCI (National Payment Corporation of India).
This framework fundamentally began to help underprivileged or needy people who can’t utilize banking services through smartphones or cards. As we all are aware of the fact that 70% of the Indian population comes from rural areas which are far separated from banks or ATMs.
How Aeps can actually make your life easier?
An Aeps service provider like HalliPay can offer various financial services.
- 1. Aeps Cash Withdrawal: People from rural areas don’t have to travel to cities from banks or ATMs, where they can visit the
- nearest Aeps service provider and withdraw cash providing Aadhar card number and fingerprint authentication.
- 2. Balance Enquiry: If you ever want to check your latest balance from your bank account, you simply have to move near by Aeps service provider and provide your aadhar details to check your balance.
- 3. Mini Statement: Same as ATM, you can get the print of your mini statement from your nearest Aeps coordinator.
Conclusion:
HalliPay has been reaching every corner of India and now has over 15,000+ active merchants, who will help people in remote areas by verifying their identity by Aadhar number or finger print used as an authentication tool for rural people.
Apart from cashless facilities for rural people, it has also opened a business opportunity. Anyone can start their own AEPS business as a business correspondent.
Who could be your best option? to start your own AEPS business.
Contact us now,
+91 7892186561