Aadhar-enabled payment system, or AePS, is a bank led financial transaction system using Aadhar verification. Launched by National Payments Corporation of India, the main objective of AePS in India is to bring banking services to the remote areas. It also intends to facilitate financial transactions in Digital India, by improving their awareness and acceptability. The need for an Aadhar-enabled payment system has significantly increased as they are also used by beneficiaries for withdrawing funds received in their bank accounts through government programs. Since this sector is expanding, it is promising to function as a registered AePS agent and earn money. Here is all you need to know about how to become an AePS agent and grow your business.
How does AePS work?
Your 12-digit Aadhaar number, can empower you to access the necessary financial services. Once you connect with the AePS agent, your biometric information like fingerprint is verified with Aadhaar details and securely AePS transaction is completed. Since fingerprint details of the customer are verified by the UIDAI, AePS offers good security.
Let us take a look at the participants of the AePS process –
- The transaction is initiated by the customer.
- The transaction is facilitated by an intermediary, in this case an AePS Agent i.e. You.
- The bank that uses Aadhaar details of the customer.
- The fingerprint is verified by UIDAI.
- Transactions are settled by NPCI.
The growing use of Aadhaar-based verification is expanding in banking, finance and other industries, enhancing the efficiency, security, and swiftness of procedures. Eliminating the need of sharing bank account number, AePS grants access to banking and financial services, empowering people while maintaining security and privacy. Cash withdrawals and other services can be carried out, which is especially beneficial for people having lesser or no access to regular banking.
The role of an AePS Agent
To start working as an AePS agent, one needs to first register with a business on the AePS portal. After registration, they can access the services through a web portal or mobile app. As an AePS agent, you need to procure the Aadhaar details and phone number of the customer and feed it in the AePS portal. The AePS agent can provide several services to the customer, such as cash withdrawals, mini statements and balance enquiries.
After the transaction is complete, the AePS agent retains the transaction details after the transaction, including the customer’s name, mobile number, date, time and the withdrawal amount. This is done to guarantee transparency in the case of any future issues.
How to become an AePS Agent for Religare?
The process of becoming an AePS Agent is fast, digital and entirely paperless.
Step 1: Learn about the opportunity by visiting website
Visit our website to understand the process and advantages of becoming an AePS agent and the possible earning potential each month. You can use our ‘Income Calculator’ to understand your commission-based earnings.
Step 2: Express interest in partnering with Religare
Fill out the form on our website to express your interest. Submit the form after carefully filling out your name, contact information etc.
Step 3: First conversation
Our team will get in touch with you to understand your expectations and eligibility and answer your queries and discuss your role and benefits.
Step 4: Sign up as an agent
There is no paperwork involved in becoming a Religare AePS agent. Our staff will assist you with the onboarding process and the necessary documentation list. You will receive the required training, marketing, and business support after successfully registering as an AePS agent.
Benefits of becoming an AePS Agent
Still wondering why you should partner with Religare as an AePS agent? We have compiled a list of advantages for you in becoming an AePS agent –
- Additional revenue: The AePS agent receives a commission for each transaction. This can be a reliable source of revenue for you.
- Community service: As an agent, you will work to promote the objectives of Digital India and help the members of your community by providing them essential banking services.
- Simple and user-friendly procedure: The AePS process typically requires some basic training and a very little investment.
- Flexible work schedule: As AePS agent, you are free to choose when and how you want to work.
- Financially empowered: Growing your business by digital marketing, self promotion or word-of-mouth marketing establishes your business as a reliable platform for financial services in your area.
Wrapping up
Aadhaar Enabled Payment System is a simple and secure process that uses Aadhaar-based authentication to enable banking transactions. An AePS agent allows consumers to access banking services, cash withdrawal, balance enquiry and more, encouraging financial inclusion. It is a promising business opportunity that has the potential to grow in the area with some marketing and customers’ positive feedback.