In today's world, where people are always on the go, finding time to visit a bank branch to withdraw cash can be difficult. This is especially true for people who live in rural areas, where ATMs are often few and far between.
AePS, short for Aadhaar-enabled Payment System, is a wonderful innovation that brings the convenience of banking services to the doorsteps of millions of people in India. It's a digital payment system that allows individuals to carry out banking transactions using their Aadhaar number and fingerprint authentication.
The lives of people in India have been truly transformed by the Digital India Campaign. This campaign has harnessed the power of technology and digital connections to bring about a positive impact on the lives of people, particularly in rural areas.
Though launched in April 2016, UPI gained popularity much later in the year. What I believe is, demonetization in 2016, is what brought UPI to every threshold. The entire process of standing in long queues, depositing, and withdrawing cash from their bank accounts made people lean toward the FinTech innovation.
We all know that traditional ATMs have revolutionized the way we access cash and perform banking transactions. But what about these Micro ATMs that have been popping up lately?
MiniATMs are ruling the world of cash withdrawal. People who would suffer from the lack of banking facilities are being consoled by the heroic act of MiniATMs, which are popularly known as mATMs.
No longer do individuals residing in semi-rural and rural regions have to endure a scarcity of banking infrastructure. Thanks to the FinTech sector, people's lives have been made more convenient with a variety of services, particularly cash withdrawal services, which are at the forefront.
The ATM is a modern marvel that has revolutionized the way we withdraw money from our bank accounts. It has become an integral part of our daily lives, allowing us to access cash 24/7 without the need to visit a bank branch. However, in many regions of India, the lack of ATMs remains a persistent problem that can cause several issues for the local population.
AePS, which stands for "Aadhaar Enabled Payment System," is a payment system created by the National Payments Corporation of India (NPCI) to enable customers to perform financial transactions using their Aadhaar number and fingerprint/ iris biometric authentication.
If you're looking for a business that requires minimal investment, has a wide customer base, and provides high returns, then Aadhaar-enabled Payment System (AePS) is a perfect solution for you. Owning an AePS business is easy and convenient, and BANKIT is one of the most popular and reliable options available for providing AePS services.
