What is AEPS and How it is Generating Business Opportunities in India?

5 min readMar 16, 2021

Definition of AEPS in Banking

AEPS is a payment system which is offered by the national payment corporation of India (NPCI) to banks and financial institutes. It allows using banking services through aadhaar card. This is the reason it is known as aadhaar enabled payment system. To use banking service through AEPS, a customer’s aadhaar card must be linked with a bank account so that it can be monitor through aadhaar card.

A big portion of the Indian population lives in rural areas and most of these places are still away to use banking services. This big part of the Indian population was not contributing to the Indian economy. To resolve this problem, the government had to install banks and ATMs in all those areas but that was very expensive and time-consuming process. As result, AEPS was invented to speed up banking facilities in rural areas in India. For this government first created Aadhaar card for all the population then connected them from a bank account so that customer can regulate their banking through Aadhaar card in an easy, safe and faster way.

Benefits of AEPS in India

So in the last paragraph, we discussed the reason behind the invention of AEPS in India. Here we will discuss the benefits of AEPS.

Penetrating Banking Service in Rural Areas

AEPS is helping to penetrate banking services in rural areas. People can use basic banking services in rural areas through Aadhaar card.

Contribution to Economy

After the invention of AEPS in India, people are enabling to use banking services that result in they are contributing to the economy.

Easy, Safe and Fast Banking

AEPS is helping people to do easy, safe and fast banking through AEPS. As a customer, you just need an aadhaar card to use banking services and you can validate your transaction by fingerprint authentication that makes it more safe and secure.

Encouraging Cashless Society in India

AEPS service is helping to create a cashless society in India. Now you don’t need to carry cash in your pockets, you just can pay or withdrawal cash using aadhaar card by visiting your nearby business correspondent.

Merchants are Enable to Accept Payments through Micro ATMs

Along with withdrawing cash, balance enquiry and min statement, merchants can also use it to accept payments through micro ATM.

Micro ATM is a compact card swiping machine that integrated with AEPS software and bank account. Customers can pay for the bill by using a debit card and PIN like the tradition ATM machine process.

This is the revolution in the path of creating a cashless society. Micro ATM is encouraging digital payment in India.

Generating Business Opportunities in India

This is last but not the least. AEPS is helping in generating business opportunities in India. Anyone can start their own AEPS business and can make it a handsome source of Income. People can start AEPS business at different levels and can generate revenue by offering banking services.

NPCI has designed this system in which anyone can offer banking services with legal registration. NPCI provide AEPS service to banks and they further carry forward to companies that create agents to spread it all over India through different channels like-

· Admin

· Master Distributor

· Distributor

· Retailer

You can start your own AEPS business at any level and can offer banking services after legal registration.

In next section, we will learn how you can start an AEPS business and what you required to start an AEPS business.

How to Start AEPS Business in India?

Before discussing about starting an AEPS business, we have to understand that who can start an AEPS business.

Anyone can start an AEPS business with a small investment and without any technical knowledge. So If you are planning to start AEPS business, this can be a great business startup opportunity for you.

To start AEPS business, you need AEPS software through which you can offer basic banking services and can earn a commission on each and every transaction.

By using AEPS, you can offer all the following banking services to customers.

· Cash Deposit ‘

· Cash Withdrawal

· Balance Enquiry

· Mini Statement

· Aadhaar Pay

· AEPS Payout

· Express Payout

· Micro ATM

These are all the services associated with AEPS business. You can offer all the services to customers and can earn a commission on the transaction.

To start AEPS business as an admin, you need AEPS software.

There are many AEPS service provider company in India that provides AEPS software. I would like to suggest you choose the best AEPS service provider.

Ezulix software is a leading AEPS service provider company in India that allows you to start an AEPS business as an admin with a small investment.

Why Start AEPS Business with Ezulix?

Ezulix has a team of experienced and skilled AEPS developers who are expert in AEPS software development over the last few years.

We provide you fully customized AEPS portal with all new AEPS service and features. We have used innovative technology to develop our system so that you can compete with the market. You can make any changes in your panel as per your market strategy. It modern layout design help you to attract more clients. Along with service, we provide you with the best support so that you can run your business smoothly and successfully.

If we talk about AEPS commission, we provide you the highest commission on all AEPS service as per NPCI guidelines. We are a well known and trusted organization that offers all fintech services with high-quality performance. We have tied up with all reputed banks like Yes Bank, Fino bank and ICICI bank to offer AEPS services.

For more details about AEPS software, apply for a free live demo now.