#aadhar micro atm

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Micro ATM Machine- Everything You Need to Know

A micro ATM or Smaller-than-usual ATM is a convenient, handheld card swipe terminal used to administer cash, which bank ATMs can’t reach. A Smaller than usual ATM works as an exceptional “Bank-in-a-Crate”, permitting clients to pull out money and know their equilibrium.

This installment arrangement is aimed at taking branchless banking to the last mile. micro ATMs, similarly as the name recommends, are more modest compact renditions of ATMs and can assist you with supporting your pay with the insignificant venture as the micro ATM price is meager and profits are high.

[usetopay1]

Discover the ultimate destination for all your digital banking and financial needs at Usetopay. Trusted by thousands across India, we offer a comprehensive range of services including secure online banking, instant recharge, Mini Atm, utility bill payments, and AEPS services . Our user-friendly platform ensures seamless transactions with robust security measures in place, providing you with peace of mind every step of the way. Experience the future of banking with Usetopay – Where trust beyond words

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AADHAAR ENABLED PAYMENT SYSTEM (AEPS)

Aadhar AEPS is a bank led model which allows online interoperable financial transaction at PoS (Point of Sale / Micro ATM) through the Business Correspondent (BC)/Bank Mitra of any bank using the Aadhaar authentication.

[udaaan]

Aadhar AEPS is a bank-led model that enables compliant online financial transactions at the Point of Sale (POS/Micro ATMs) through Business Correspondent (BC)/Mitra Bank of any bank using Aadhaar authentication. AEPS India offers Aadhar enabled payment software and AEPS API integration services to businesses across India. https://www.udaaanpe.com/aeps

[vosostore01]

Get a Franchise and Join the Entrepreneurial Revolution

We, at VOSO store, offer most profitable franchise business in India. We support the establishment of enterprises with the highest profit margins. We are a retail technology business. A brand-new method for turning your physical store into a digital store is VOSO Store. Through a unique portal, we link retailers and brands to serve end-user offerings. With the VOSO business opportunity start business in India, our store partners are exponentially growing their commercial enterprise. To connect them with a wide range of services and goods through our store partners and to offer our store partners one-of-a-kind support through our facilitator model, VOSO is on a mission to reach an untapped region of the country.

With the aid of our retail partners, we are making improvements to streamline the online service process for every citizen. Retailers and merchants are increasingly using VOSO as their preferred platform for accepting online payments for a variety of services. Our team is always working to improve the functionality and seamlessness of the online portal and payment system. We make it possible for our partners to use all current and upcoming services by offering VOSO Store partnership. VOSO has stores in more than 700 cities and 6000 pin codes. Our store numbers are constantly increasing. The core value of VOSO is to provide a practical platform for all utility services to all segments of society, particularly in rural and suburban areas, to increase their level of digital literacy.

Through a range of VOSO services like travel booking, utility bill payment, domestic money transfer, PAN card, recharges, and insurance. VOSO enable its store partners to establish strong connections with their potential customers in this rapidly evolving age, enabling them to obtain services at competitive rates and earn more money than they did previously. VOSO's B2B portal also saves time, energy, and money by connecting you with all the top services at a single touch before they are even built.

Bills payment With the Baharat bill payment system, VOSO store works with the portion of bills and upgrades the security and speed of bill payments. BBPS services are available at our stores. You can pay a charge for utility bill payments i.e. (Fastag, Gas Bills, Water Bills, Electricity bill payments, DTH and Mobile recharges, etc.)

VOSO mATM services (micro ATM service) Voso mATM services now allow you to provide mATM services to your customers and earn the highest commission per transaction. mATMs are devices that allow users to withdraw cash and check balances from any Kirana shop, local store, or e-service portal without having to go to banks and wait in long lines. Merchants can use mATM devices to provide cash withdrawals, cash deposits, and money transfers from one bank account to another, as well as balance checks while earning commissions on each successful mATM transaction.

Domestic Money Transfer (DMT) Our store partners can send money across India using the VOSO portal. These transactions are completed in a matter of seconds, and money is securely transferred to the receiver's account via VOSO's secure payment method. Additionally, VOSO offers expert assistance for any issues that may arise during the transaction. With the help of this crucial service, we guarantee low transaction costs and high earning potential for our partners.

AePS Paying with an aadhar card is possible with the AEPS or aadhar enabled bill payment system. The NCPI created the AePS payment model, which enables customers to make basic payment transactions with their aadhar cards, including cash deposits, bank-to-bank transfer balance inquiries, mini statements, aadhar to aadhar funds transfer authentication, BHIM aadhar pay, and many more. By utilizing AePS, merchants can also provide extra services to their clients and users, such as eKYC, best finger detection, demo auth, tokenization, and Aadhar seeding status.

Booking services Our partners can book buses, flights, or train tickets for any location in the country. We offer expert training and one-on-one support. The VOSO portal and mobile app now make it simple to book bus tickets. You can now compare ticket plans and amenities and select the best one for your clients from any location in India. With the assistance of VOSO partner stores, we take the initiative to provide the best facility with the lowest costs and the best service so that everyone can enjoy a hassle-free journey. We have the highest commission rates.

Conclusion VOSO store provide most profitable franchise business in India which lead to high profit margin business for store partners. VOSO considers its partners to be its greatest asset. We are committed to the overall growth of our store partners and provide the best services with the highest earning potential. Join VOSO store to earn high profit.

[vedantpay]

Which is the best digital payment system for rural and semi-urban India?

To answer this question in a better way, let me briefly introduce you to the currently prevalent payment systems in India.

1. Cash-only system : People have preferred to keep small amounts of cash with themselves for a long time, which is used in day-to-day work. It is necessary so that a shortage of money is not encountered in times of need.

2. Cash in bank : Almost 80% of the Indian population above 14 years of age is banked as per the latest data of 2017 . Most of the money kept in these bank accounts is spent through cheques, drafts, or by pay-in-slips.

3. Mobile wallets: Most modern-day mobile wallets like PayTM, PhonePe, Google Pay (formerly Tez), etc. have emerged in the post-demonetization period and during COVID-19. The transactions made through them have crossed ` 36.5 Trillion in 2020, and are expected to more than triple by 2025 .

4. Card transactions: Debit and credit cards of Master, VISA, and more recently Rupay are being used for making payments from bank accounts, by either withdrawing cash from ATMs or directly by swapping on PoS machines or simply waving or touching them near payment terminals. While every commercial bank provides debit cards, eCommerce sites like Amazon and Flipkart have tied up with banks and finance companies to provide specific credit cards to their customers. There are around 94 Crores of active debit cards and 6.2 Crores of credit cards in India in January 2022 .

5. Internet banking: A customer with access to an internet connection can log in to the website of his bank and perform almost every banking transaction, from balance inquiry to transfer of funds to bank statements. Around 26% of people in India are reported to at least have a digital bank account in a 2022 survey, which is expected to increase to 46% by 2027 .

6. Unified Payment Interface (UPI): This is one of the facilities provided by banks in their mobile apps, through which payments can be made and received either through QR codes or direct transfers to someone’s mobile number through Virtual Payment Address (VPA); and account balances can be enquired about. Almost 4.6 billion transactions worth ` 84 Lakh Crore have been processed by UPI in the Financial Year 2022, which is more than double the volume and value of transactions in the previous year 

7. Mobile and SMS banking: Banking is done in two ways through a mobile phone. First is the use of *99# provided by almost every telecom provider for doing banking through SMS, for which banks have implemented daily limits of transactions, under the system called Unstructured Supplementary Service Data (USSD). Second is the use of the mobile app for your bank account by providing a smartphone-ready interface of your bank’s website.

8. Aadhar Enabled Payment System (AEPS): Now, only an Aadhar card is required for making most banking transactions, like withdrawing or depositing money, inter-bank fund transfers, balance inquiry, etc., for which a customer has only got to visit a Banking Partner, like ‘Vedant Mitra’ who has Vedant Pay app installed on his phone and do the required transaction.

9. Micro ATM (mATM): This is a smartphone device in the hand of a business partner like Vedant Mitra through which you can withdraw or deposit money in your Aadhar-linked bank account by inserting your debit or credit card into it and authenticating your fingerprint.

10. Mobile Point of Sales (mPOS): POS machines are very popular in shops and malls for making payments. Now is the era of mobile POS, which are the same devices as mATM, just differing in functionality. Payments can be made using cards, AePS, Mobile Wallets, and QR Code scanners on this machine.

Now coming to your question about the most preferred digital payment system in rural and semi-urban India, let us cover it point-wise:-

(a) Cash-based payment is not feasible because of the risk of theft.

(b) A huge majority of Indians, including our rural population, now have a bank account, thanks to the Pradhan Mantri Jan Dhan Yojana. But withdrawing money through cheques, drafts, etc. is a tedious job, because of the time involved.

© USSD and SMS banking are old forms of mobile banking that are rarely used nowadays.

(d) UPI has emerged as one of the most preferred modes of making payment, because of its simple interface and ease of operations.

(e) mATM and mPOS devices have also become popular modes of making digital payments, mainly in rural and sub-urban regions of India, where banking penetration is relatively low as banks don’t want to open branches owing to logistical and operational concerns.

So, the answer to your question is that UPI, mATM and mPOS have become the best modes of making digital payments in rural and semi-urban India.

[round-pay]

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Roundpay Merchant App is highly secure gives an ease of access to the merchants to work effectively & efficiently. Roundpay App Features: ★ Easy Merchant Registration: Simple process to become Roundpay Money Merchant / Agent all you need is mobile number & basic KYC documents ★ Mobile and DTH Recharge: Recharge your Customer's prepaid mobile and DTH for all telecom operators like Jio, Airtel, Vodafone, Idea, Reliance,BSNL,Dish TV, Sun Direct,Videocon D2H & others. ★ Cash Withdrawal (Micro-ATM): Merchants can help customers to withdraw cash from ANY bank account (SBI, PNB, Allahabad Bank, Bank of Baroda, ICICI + 180 more banks) with Aadhaar number & fingerprint only ★ Easy movement of money to Bank : Roundpay Merchant can transfer earned money in bank account in few taps. ★ Money Transfer (DMT): Merchants/Agents can take cash from customers and transfer money to any bank accounts across India. ★ MPOS – Merchants can accept payments through credit cards/ debit cards with the help of their mobile phone and MPOS machine. ★ Bharat Bill Payment (BBPS): Merchant can fetch & pay utility bills of their customers which includes: Gas, Electricity, Water,Education Fees,Insurance Premium) ★ Railway Ticket:Become IRCTC authorized agent and use Roundpay wallet as payment method at booking check out ★ Travel: Roundpay Merchant can book Domestic and Internation Flights Ticket Air, Domestic and Internation Hotels Oyo Rooms for their customers. ★ Pancard Services: Merchant can create new PAN card for their customers online From UTI With Help of Our Expert. ★ Wallet Upload: On the go wallet upload feature using digital payments like UPI, NetBanking, Credit Card, Debit Card. ★ App Notifications: Stay updated with various attractive offers. ★ Transaction History: Roundpay provides you with a detailed Account Statement of your online shop. See all your transaction and how much have you earned on them. Control your online business with relevant reports at your disposal. ★ 24*7 Availability: Provide hassle free services to customer available 24*7 ★ User Friendly Interface: Fast, simple & easy interface ★ Secure & Robust: Secure mobile app with multiple layers of authentication to ensure security and Most advanced Level (RD service) AEPS integration from four biometric companies - Morpho, Mantra

 visit here for information: https://www.roundpay.in/

Source Link: https://youtu.be/YoQIorj6C-Q 

[tezzpay-blog]

Aadhaar Enabled Payment System (AEPS) is a type of payment system that is based on the Unique Identification Number. This services is offered by Tezzpay to use your Aadhaar card to pay online bill.

For More info click: https://tezzpay.com

[bhimpay]

Bhimpay

BHIMPAY  is a one-stop White Label B2B software provider for all the technology needs of rural customers, consolidators, and AEPS service user…. Our White Label API is best for you who are looking for AEPS, Money transfer, BBPS, Recharge, M-pos, Pan Card services, Pre Paid Card and Indo-Nepal money transfer, hotel and Bus booking services, Flight booking services, car booking services, etc. We…

[justforpay]

Justforpay provides you aadhar enable payment system (AEPS) in which you can give micro ATM services to your customers by using their aadhar cards.

[iglobesolution]

Aadhaar-Enabled Payment System (AEPS) - What is it and why is it so popular?

Aadhaar-enabled payment system is the most popular mode of banking operated on Unique Identification Number through Aadhaar Card Verification. It makes financial transactions easier than before and empowers the society by providing reliable and user-friendly media for money transactions. The AEPS system aims to empower all sections of the society by making financial and banking services available to all through Aadhaar.

AEPS allows customers to make payments using their Aadhaar number and by providing Aadhaar verification at Point of Sale (PoS) or Micro ATMs. It is a simple, secure and user-friendly platform for financial transactions. This is another initiative taken by the National Payments Corporation of India (NPCI) to encourage cashless transactions in India. The customer can do all the transactions through a micro ATM, through a Business Correspondent (BC) or through a bank agent. Except for fund transfer, where you need to go to the specific bank BC, for other transactions you can go to any bank BC can be used.

Services offered by AEPS

cash deposit

Payment Transactions (C2B, C2G Transactions)

balance inquiry

cash withdrawal

Aadhar to Aadhar Fund Transfer

Features

easy to use

secure payment method

Interoperable across different banks

Promotes financial inclusion and serves the underbanked sections of the society

Through AEPS, all bank account holders will be able to access their bank accounts through Aadhaar authentication

AEPS facilitates the disbursement of government schemes like NREGA, Social Security Pension, Disabled Old Age Pension etc. to any Central or State Government bodies using Aadhaar authentication.

How does AEPS work?

The AEPS machine works like a Point of Sale (POS) machine. Instead of debit/credit card PIN, the merchant has to enter the customer's Aadhaar number and authenticate the transaction using the customer's biometric data.

You will need the following forms to make AEPS transactions:

Bank's Issuer Identification Number (IIN) or Name

Aadhar number

Fingerprint

How to become an AEPS Agent easily with IGS Digital center Limited?

IGS Digital center Limited is a service provider company that assists you in delivering 300+ services to your customer end with quality assurance. Apart from this, you can earn good commission on every service you provide. It is very easy to get the member ID of IGS Digital center Limited and become an AEPS agent. In this article we are sharing some steps which help you to understand the whole process.

First you have to apply for member id

You must have any photo ID which can be Driving License, Passport, PAN Card, Voter ID or Aadhar Card.

After that, you will move to the verification part where our team verifies your details and documents, and your application can be approved or rejected during this process.

After the approval of your application, we proceed with the payment and settlement process where after payment registration we generate your member ID and provide you with a contract. That you need to send it back to us after printing it on stamp paper.

Hence, you are now a certified member ID of IGS Digital center Limited

announcement of new services

Details of the complete process of becoming a member

Complete your registration process in 3 easy steps.

Our sales team will contact you for confirmation and further steps.

After that, the KYC team will verify your documents and generate your member ID, activate your services and provide you with training.

[udaaan]

AEPS Services: (AEPS) AADHAAR ENABLED PAYMENT SYSTEM (POS/Micro ATMs)

Aadhar AEPS is a bank-led model that enables compliant online financial transactions at the Point of Sale (POS/Micro ATMs) through Business Correspondent (BC)/Mitra Bank of any bank using Aadhaar authentication. AEPS India offers Aadhar enabled payment software and AEPS API integration services to businesses across India. https://www.udaaanpe.com/aeps

[paydeer05]

Why is AEPS Considered a UPI for Rural India?

Aadhaar Enabled Payment System (AEPS) is a payment service that lets a bank customer use Aadhaar as his or her identity to access his or her Aadhaar enabled bank account. The goal of the AEPS system is to give people more power, especially in rural areas, by giving everyone access for financial and banking services through Aadhaar.

AEPS infrastructure is a great move toward solving the basic banking problems caused by the lack of Digitalization in rural India by allowing basic banking transactions, increasing the use of digital financial services in rural India, and filling them into the formal financial system. As India is now a developing Nation and so a rural area should be, making the rural areas more digitalized, more cashless, and more educated about digitalization, AEPS has been a key role for rural people and thus it has been a modern UPI for the rural people of India.

How to use AEPS as UPI?

It’s easy to use AEPS; all you have to do is give the correct Aadhaar number, and the payment will be sent to the right merchant.

• Download the app on the Android or iOS platform

• Register for the service by giving details about your bank account.

• Set up a VPA and get an MPIN

Benefits of AEPS Payments

As part of “Paperless, Cashless, and Faceless” services across the country, especially in rural and remote areas, different ways to make digital payments are being offered. These include Banking Cards, Mobile Wallets, Internet Banking, Mobile Banking, Bank Pre-paid Cards, Micro ATMs, and Aadhaar Enabled Payment System (AEPS) Also, with the move to digital, banking services will be available to customers on a 24/7 basis and on all days of the year, including bank holidays.

• Cost-effective and less transaction fee: There are a lot of payment apps and mobile wallets that don’t charge any kind of service fee or processing fee for the service they provide. The UPI interface is one example of a service that the customer can use for free. Costs are going down because of the many digital ways to pay.

• Discounts and cashback: Customers who use digital payment apps and mobile wallets can get a lot of rewards and discounts. Many digital payment banks offer cash-back deals that are pretty good. This is great for customers and makes them more likely to stop using cash.

• One-stop solution for paying bills: Many digital wallets and payment apps can be used to pay bills all in one place. This makes it easy to pay for things like utilities. All of these utility bills, like cell phone bills, internet bills, and electricity bills, can be paid through a single app without any hassle.

Which are the best AEPS services provider in Rajasthan?

Paydeer Company is one of the best AEPS service provider companies in Rajasthan. You can start your own AEPS banking service with us as an admin and can offer cashless banking and financial services to your members.

Many fintech companies also support financial inclusion by setting up their own banking correspondent agent networks that offer AEPS services to their communities. These networks can also help people who don’t have bank accounts but have an Aadhar card join the formal financial system without having to go to a bank branch.

Conclusion

Since the cashless economy, the Indian government has been working on a number of projects to meet the financial needs of the last mile consumer. In a country like India, where digital literacy is still low, one important part of promoting digital payments among rural populations is how easy it is for them to use these methods in their daily lives.

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Originally Published at :- https://paydeer.medium.com/why-is-aeps-considered-a-upi-for-rural-india-5617dcc2e4ba