The beginning of the Aadhaar-enabled payment system or AePS in India has proved out to be a game changer in India’s financial history. It has added value to the user experience by bringing convenience, ease and reliability together. With constant technological updates, it is important for the regulatory authorities to keep the digital payments system secure and ensure it is robust, reliable and accessible.
AePS has changed the way of life in less developed locations and remote areas of India, making a strong path for financial inclusion for all. Let us discuss the role of AePS in detail and understand how citizen service companies like Religare Digital integrate AePS and facilitate payment service across India with the help of their agents network.
How AePS digitised India’s transactions
Aadhar-enabled Payment System, developed by the National Payments Corporation of India or NPCI, helps customers carry out banking transactions by using their Aadhar card details. Religare Digital has integrated AePS service and onboards and trains citizen service agents to offer AePS services through their shops situated across the country, including tier 2 & 3 cities. The customers can conduct cash transactions without going through the hassle of visiting bank branches and standing in long queues.
So how does Religare Digital help its retailers with the AePS?
1. Easy to use - Today, Religare Digital service centers are one of the preferred digital service hubs for customers.. The agents facilitate instant Aadhar-based payment transactions through its digital platform.
For security and compliance purposes, agents need to perform daily biometric authentication for system log in. Each successful customer transaction gets them a transfer of commission directly in their wallet.
2. Wide range of services - With Religare Digital AePS authorisation, agents can carry out multiple operations to help their customers, such as deposit or withdraw cash from their bank account through biometric authentication (both face or finger); conduct real time bank balance enquiry; enquire about bank statementsand more.
3. Seamless services - Religare Digital offers seamless AePS experience as users can use Aadhaar-linked accounts to carry out secure and cashless payments. There is no need to use cards and enter bank details manually in the system.
4. Promoting financial inclusion - With AePS, Religare Digital has emerged as a significant player in promoting financial inclusion in the country. AePS carries out wider access to digital financial services especially in rural and semi-urban India. Such integrations by Religare Digital help in democratising access to payment options for a wider set of users, irrespective of their caste, creed or gender.
Conclusion
With Aadhar-enabled payment system integration Religare Digital has facilitated seamless and instant basic banking services for customers. The system ensures end-to-end security and accuracy.
You must be logged in to post a comment.