AEPS Service Provider - MFins Business Opportunity
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AEPS

AEPS helps you to convert your existing business into a bank ATM. It is an AEPS based payment solution, which interfaces with the AEPS of NPCI and supports transactions from one Aadhaar linked account to another routed through Aadhaar Enabled Device. The service can be started easily with very fewer formalities from your existing shop or home. It helps you to perform various financial transactions for your customers, thereby giving you an opportunity to earn handsome commissions.

How Does AEPS Work?

The AEPS machine works like a Point of Sale (POS) machine. Instead of a debit/credit card pin, the merchant will have to key in the customer’s Aadhaar number and authenticate the transaction using the customer’s biometric data. You will require the following formation to carry out an AEPS transaction: • Bank’s Issuer Identification Number (IIN) or Name • Aadhaar Number • Fingerprint

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Features & Benefits of AEPS:

  • Easy to use
  • Safe and secure payment method
  • Interoperable across various banks
  • Encourages financial inclusion and serves the underbanked sections of society
  • Through AEPS, all bank account holders will be able to access their bank accounts through Aadhaar authentication
  • With AEPS, the only information required to initiate a transaction is Aadhaar number and biometric information
  • AEPS facilitates disbursements of Government schemes like NREGA, Social Security pension, Handicapped Old Age Pension etc. of any Central or State Government bodies using Aadhaar authentication.
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