But, still confused by the settlement process.
What is settlement?
This is an exceptionally recognizable term that people use for transferring money from an AEPS wallet to a bank account.
For example, when a customer comes to your shop for an AEPS cash withdrawal, The cash you have given to the customer will be present in your AEPS wallet, and transferring that amount to your bank account is known as AEPS settlement.
So, how is the whole AEPS settlement process settled?
After you give a quality banking service to your customer, anything related to providing cash to the customer, the same amount will be credited to your HalliPay AEPS wallet.
In HalliPay App itself, you have two options to transfer it to your bank account:
What is IMPS?
IMPS (Immediate Payment Service) provides strong and real-time fund transfer which offers a 24×7 service.
Benefits of IMPS:
It doesn’t matter if it’s Ganesh Chaturthi or Diwali, it’s functional 24×7.
Immediate fund transfer.
Safe & secure
Charges = Rs 10
What is NEFT?
NEFT (National Electronic Fund Transfer) is a well-known payment system for transferring funds with no extra charges. But certainly, it doesn’t follow the instantaneous process, as it takes around 2 to 3 hours to transfer the funds and considered only In the respective banking hours.