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.
Gone are the days when we had to carry cash or checks to make a purchase or pay a bill. With the rise of digital payment solutions, transactions have become faster, more secure, and more convenient.
The importance of digital payments is quite evident at present in India. Particularly after the demonetization drive in 2016, the government's push towards a cashless economy and the rise of affordable internet access has contributed to the growth of digital payments.
The world is going digital in terms of the money transactions we make. However, no matter how digitalization we bring, the day when cash will lose its supremacy is way too galaxies away. Money in its paper form will always be needed.
Do you remember those times when we used to talk that there would be flying cars as technology has advanced a lot? Well, that time of flying cars hasn’t come yet but technology has advanced for sure. We have achieved technological development in other fields like talking robots and the possibility to live on the Moon. And finance, which was much needed.
Some say the introduction of FinTech could be traced back to 1967 when the first ATM was installed. Some believe that FinTech started in 2015, and some could be seen entertaining the idea of FinTech rising in 2016.
