Why AEPS Service is Different to UPI Transaction

AEPS Service

What is AePS Service and UPI

Before starting the topic what is the difference between AEPS service and UPI, we have to know about AEPS and UPI. AEPS stands for Aadhaar Enabled Payment System while UPI stands for Unified Payment Interface. Both are the digital payment services which are an initiative by NPCI (National Payment Corporation of India) to make Cashless society under digital India project.

Here we discuss about both the topics like what they are and what are their benefits in daily life and how can you use them. First we start with UPI transaction.

Keep tuning with us for interesting facts about UPI transaction.

What is UPI Transaction and its Benefit

As we learn above UPI stands for Unified Payment Interface which is the digital payment service initiative by NPCI to make India digitally strong.

Before starting UPI Transaction I want to know, ever have you hear about UPI?

Any where?

I would try to remember you, Have you use Pay Tm?

Perhaps you remembered this function now; yes I am talking about the same function,

UPI transaction.

The main goal behind initiative this service is to compete with mobile first digital payment platforms like e-wallets with bank backed network. UPI is the instant payment system which is totally based on IMPS infrastructure. It is basically used for instant money transfer from one bank account to another at the same time.

Now we learn what the benefits of UPI transaction is and how can you use it in your daily life.

Benefits of UPI

• UPI is the cheapest way of money transfer
• It Makes you Free from Cash
• There is no need to give bank account details
• Cheapest alternative of POS machine
• It is safe and secure to use
• Instant money transfer facility

So basically these are some benefits of UPI transaction which enables you to use in daily life. You can use this service in PayTM wallet by direct money transfer without any further details at same time.

What is AEPS Service and Its Benefits

Aadhaar enabled payment system is type of payment system which enables us for cashless transaction with using credit or debit card. AEPS service also initiate by NPCI (National Payment Corporation of India) which main aim is to develop cashless economy in India under digital India project.

AEPS service facilitate basic banking transactional activities like cash deposit, cash withdrawal, fund transfer and balance inquiry by using aadhaar card number and finger print authentication. You can use these facilities anywhere if your bank account connected to your aadhaar card.

AEPS service makes you enable for cashless transaction without using any debit or credit card. You have no need to remember any pin or code. You just need to give 12 digit aadhaar card numbers to merchant and finger print authentication to perform basic banking transactions.

Benefits of AEPS

Here we learn about benefits of AEPS which you can use in daily life.

• Cash Deposit
• Cash Withdrawal
• Fund Transfer
• Balance Inquiry

So this is very beneficial service which helps you in daily life for cashless transactions. Sometimes if you are not able to go bank or ATM, this service enables you to perform basic banking transactions.

These are the benefits which you can use in your daily life; apart as a user you can use can this service as a business man.

Yes, it’s true

If you are a businessman and you have a business this service can help you out to perform banking transaction directly with clients without any cash transaction which is definitely safe and secure and you no need to appoint a person for this work.

AEPS Service for Mini Banking Business

If you are looking for new business startup, here I have a great Idea for new business plan. Yes I am talking about mini banking business or we can say AEPS service. If you are really planning for new business mini banking service is the best option on present scenario.

To start this business you have to purchase AEPS software from any AEPS service provider company and you have to connect your bank account with this. You can start this service at your shop or center. Any customer perform any AEPS transaction, you will earn the commission on it. So I can say this is the best alternative for business with less investment.

I would suggest you to purchase AEPS Software from the best AEPS service provider company in India which gives highest commission on aeps transactions which makes you earn more.

Conclusion

Here I am wrapping up this article, here we discuss two most famous digital payment services, what they are actually, how can we use it and how they can be used in daily life. Here also we discuss about how can we start own business by using AEPS software.

I hope this article may help you to understand AEPS and UPI. If you feel this article consist use information, share it with your friends and family to get benefits of these services.

List of Best AEPS Service Provider Company in India

Best AEPS Service provider Company in India

What is Aadhaar Enabled Payment System (AEPS)

AEPS stands for aadhaar enabled payment system is type of payment system which allow customers for basic financial transaction activities like cash deposit, cash withdrawal, fund transfer and account details. AEPS service is announced and approved by National Payment Corporation of India (NPCI). The main motto behind the AEPS service was creating cashless economy in India. Customer can use these services by using their aadhaar card number and finger print impression and can perform all basic transactions.

What is Aadhaar Enabled Payment System App

The main objectives of aadhaar enabled payment system app are to provide basic banking transaction service to customers. In business manner this is also very beneficial; you can get facility of all basic banking transactions in interbank and Intra-banks. AEPS app facilitates basic banking transactions by using aadhaar number of clients and their finger print to perform action. So we can say at present aeps app is the best facility for business transaction without cash rotation.

What is Digital Payment

Digital payment also is the part of aeps service. If we talk about digital payment I have to go on work process of aeps service. In the aeps service process customers have to go on business correspondence (BC) for the banking actions. They required aadhaar number and finger print for the action. In this case they enter their aadhaar card number in the aeps app by which their bank account is connected, then after approval they have to use finger print as authentication or we can say as pin or code. Here Merchant sends all the details to NPCI and if all the details right and authenticated the transaction take place. So in this whole process no physical cash transaction occurs. Everything is done digitally, that’s why it is also known as digital payment.

AEPS Service Provider Company

If you want to start mini banking service at your shop or center you need AEPS software orAEPS app from any registered and authenticated AEPS service provider company.

I think you are little bit confused about aeps service provider company, like which company is good or not?

Here I try to solve your problem

Yes, it’s true

Definitely you want a company or a service provider which is best, which services is excellent, which support system is outstanding and which is approved and authenticated.

If you have the same desire regarding your AEPS service Provider Company, I would like to suggest you a company which fulfill all these desires. I am talking about Ezulix software which is the best aeps service provider company in India. Over the last few years ezulix software is most emerging company in India in recharge and app development.

What We Provide

Ezulix software is one of the best AEPS software provider company in India. AEPS software allow cash withdrawal or balance inquiry service for the bank customers and admin of software will earn commission on each cash withdrawal transactions and admin of software can distribute AEPS transaction amount for their register agents in real time in e-wallet and (T+1) in bank account because Ezulix Software provides bank settlement in real time in e-wallet and (T+1) in bank account to the software admin. Here agents also get the commission by the customer’s transactions.

So we can say this is the best business opportunity which is growing very fast now days. All the transactions being online or we can say cashless through this AEPS software. We are the best AEPS Software provider company in India which provides funds in real time in e-wallet.

How Agents can register for AEPS Service

Earlier agents had to register for AEPS service by submitting manually KYC and they have to wait for approval but now we have upgraded the system. Now agents can register for AEPS service through e-KYC process. In this process now agents only have to use their finger print using biometric machine and they can easily register by approval of biometric scan machine.

Conclusion

You can start your aeps service today with us. We are best aeps service provider in India.  I hope this article definitely help you to understand aeps business. Contact us today to get offers on mini banking service and earn highest commission on each aeps transaction.