FULL FORM of AEPS
AEPS’s FULL FORM, AEPS which stands for Aadhaar Enabled Payment System. It is becoming very popular in All India. The person who gets the facility of Apps, whose Aadhar card is already linked or attached through the bank, that person can take advantage of its facility. As is also called mini ATM in common language. Due to AEPS, you can easily exchange money. Payment facility becomes available after finger verification in Aeps.
AEPS Full Form
The full form of Apps is Aadhaar Enabled Payment System and in Hindi, it is called Aadhaar Enabled Payment Switch.
- You do not need any branch to use AEPS.
- It is a small device that any person can keep with him.
- After KYC verification, you can enjoy the facility of AEPS machines for your shop or business.
If you will not use AEPS and you want this facility from the bank itself, then you will need many things. Like documents verification contacts verification full details etc. At the same time, it will also be a waste of time. But with the help of the AEPS machine, you can easily take advantage of your money exchange. If you have your own shop or business then you can start your business by making the machine available.
Benefits of AEPS Money Transaction
When you do AEPS transactions, you get 5 to 10 rupees. On every single money transaction which will be of great benefit to you. If you can earn by doing 100 and 200 mini transactions a day.
Who runs AEPS
The work of running AEPS is done by NPCI i.e. National Payments Corporation of India which is called the National Payments Corporation of India language. It is an institute of the Indian Government that completely supervises it under it.
- All the money transactions that happen in All India are under this institute.
- Their important goal is to extend the facilities of Aadhar AEPS to every corner of India.
- It is wanted that every person should be connected to the Aadhar enabled banking system.
- AEPS can be linked to any bank. Like ICICI Bank HDFC Bank SBI, any private or government bank, you can link to NCPI machine only.
Facility of AEPS
Aeps can easily do balance inquiries, withdraw cash, deposit cash, change mobile numbers easily, update all these facilities you can make available to any customer from mini ATM.
Persons to be involved in Aeps
To be involved in Aeps, first the bank second the customer, it is necessary for the customer to be linked with Aadhaar in the bank.
These four essential things are to receive and exchange money from a mini ATM without going to the bank.
100% security in Aeps
You must be wondering how Aeps can be 100% secure. Aeps is a hundred percent secure because no person in the world has the same fingerprint, and money transactions do money transactions only after fingerprint verification. That’s why it is a hundred percent secure.
Two major characters who contributed to the Aadhaar enabled system
Two characters play their major role in Aadhaar enabled system, NPCI national payment corporation India, and banks member. It is because of the role of both that Aeps has been so successful.
how to earn money from aeps mini bank
- If you install Aadhar Enabled System here, then whatever shop you are running, you can earn 100 to 200 daily.
- Second, you can take a kiosk from SBI i.e. State Bank of India.
- There is no need for you to contact any branch or agent to take the SBI kiosk. You can talk about taking kiosk from the nearby State Bank of India.
- It may take some time for you to take advantage of this facility.
Ever since the facility of Aadhaar Enabled Mini System has come into India, 100-200 companies have come in contact with it. You will find many people fraud in these companies. That’s why you should check the feedback before doing any money transaction. Be careful, take advantage of this facility only after doing a thorough investigation and avoid fraud.
We hope that you have liked all kinds of information related to our Aeps. And you can take advantage of all this information related to Aeps full form as well as avoid the disadvantages caused by Aeps.