Use Aadhaar Pay & Xpress Payout to Boost AEPS Transaction

aeps transaction

What is AEPS?

AEPS is a payment system initialized by the Reserve Bank of India to provide easy and fast banking using an Aadhar card. AEPS is specially introduced for rural areas where banks and ATMs are not easily available. This also promotes cashless India while offering the safest and reliable basic banking transactions in India. AEPS offers various services including Cash withdrawal, cash deposit, money transfer, mini statement, and balance enquiry. You just need an Aadhar card linked with your bank account which enables you to perform bank transactions without visiting any bank or ATM machine. To withdraw cash or make payment through AEPS, customers needs to enter the 12 digit Aadhar number, scan finger on the biometric scanner, and select bank from which payment is to be made.

Aadhaar pay and Xpress payout are such features of AEPS which can boost your AEPS transactions. Let’s understand these two features of AEPS. Ezulix is ranked at top in AEPS service provider companies in India.

What is Aadhaar Pay?

Aadhaar Pay is one of the features of AEPS, launched by the National Payment Corporation of India (NPCI). It enables a customer to withdraw or pay more than 10,000 Rs. in a single day. AEPS has a transaction limit of maximum 10,000 Rs. per day. By using Aadhar pay more than 10,000 Rs. can be withdrawn. A particular amount of surcharge has to be paid by the customer in order to use Aadhaar pay feature.

What is Xpress Payout?

Xpress payout is a very useful feature for retailers, as it helps them to settle their funds anytime. Instant AEPS real-time settlement is possible anytime; you can transfer money from the AEPS wallet to your main account 24*7. You can use multiple accounts but the limit of transferring funds has been set at a maximum 2, 00,000 Rs. per day. You can also use this feature as a money transfer without paying a surcharge. 

How to Boost AEPS Transactions by Using Aadhaar Pay & Xpress Payout?

AEPS transactions can be increased with the increased use of Aadhaar Pay and Xpress Payout. As we have discussed above, Aadhar pay is useful in performing transactions that are above 10,000 Rs. Xpress payout enables us to settle the funds anytime. As the use of Aadhar pay and Xpress payout will increase, it will also boost AEPS transactions. These features are not only useful for the customer but it is helpful for retailers as well. If a retailer is using Aadhaar pay service he will attract more customers because there are plenty of customers who need to withdraw or pay more than Rs. 10,000 in a day. For these transactions, they need Aadhar pay service which is used along with AEPS.

When a customer withdraws money, the retailer has to pay him through cash and the same amount will be added to retailer’s AEPS wallet. A retailer needs cash in order to provide cash to a customer. For this purpose, Xpress Payout will help him in transferring funds from his AEPS wallet to the main bank account.

Conclusion

Aadhar Pay and Xpress Payout are the two most useful features of AEPS, also helpful in boosting AEPS transactions. Customers need these two services in order to perform transactions more than Rs. 10,000 and easy AEPS real-time settlement anytime. An increase in the use of Aadhar Pay and Xpress Payout will result in increased AEPS transactions in India. 

Ezulix is a leading company in providing the best AEPS service in India. With advanced and hi-tech features, we have already served many customers in the past years. Start your own AEPS service today with Ezulix. For more information, you can visit my blogs and contact us for a free Live Demo today.