Understanding How Micro ATMs are Supporting Increased AEPS Transactions

Understanding How Micro ATMs are Supporting Increased AEPS Transactions

Understanding How Micro ATMs are Supporting Increased AEPS Transactions

Whether you are a business correspondent or the Bank Mitra of a bank, you must be familiar with AEPS transactions. AEPS full form is Aadhaar Enabled Payment System, which is a bank-led model through which you may carry out interoperable financial transactions with Aadhaar or fingerprint authentication. Almost all MSMEs offering banking services are concerned about AEPS transactions, as they want to boost their transactions so that they can earn maximum commission. This is where AEPS Micro ATM comes for your support. Here, we will let you know how Micro ATMs are helping SMEs increase their AEPS transactions and maximise profits.

What is AEPS Micro ATM?

Micro ATMs are compact devices that can be used for performing basic banking operations like AEPS cash withdrawal, balance enquiry, and mini statements. Working just like traditional ATMs, these small machines are intended to take banking closer to the customers at their doorsteps. So, they may make banking services much easier and more effective. 

Although Micro ATMs are small devices that can perform all banking operations, their AEPS Micro Atm price, installation, and operational costs are very low. Besides that, business correspondents and bank Mitras also earn a commission for helping businesses provide banking services to customers. 

As AEPS full form suggests, it is Aadhaar Enabled Payment System for which the customers need to use their Aadhaar Card or fingerprint authentication to perform the required transaction. However, in Micro ATMs, customers can even use their debit cards to carry out their transactions. 

How Micro ATMs Have Helped Increase AEPS Transactions?

AEPS is a specialised system that allows customers to perform different banking operations through Aadhaar authentication. If you have your Aadhaar linked with your bank account, you may use the AEPS service of an AEPS Micro ATM service provider to carry out your transactions through a unique identity number. 

Started by NPCI (National Payments Corporation of India), the aim of AEPS is to make India a cashless society. It has been helping rural India use banking services in a hassle-free manner. Banking transactions performed through this method are termed AEPS transactions. Since banks give commissions on all AEPS transactions, financial entities also earn a higher profit by deploying an AEPS or debit card-based MicroATM solution in their App through an AEPS Micro ATM service provider’s SDK!

With Aadhaar authentication, AEPS transactions have become extremely safe and easy even in rural and semi-urban areas of the country where ATMs and banks are not available. But what if a customer does not have an Aadhaar card? In that situation, Micro ATM solutions play a crucial role. Through Micro ATM, customers can carry out banking transactions through their debit card, including Aadhar Card money withdrawal, balance enquiry, and mini statement.

Today, millions of business correspondents and bank Mitras are using AEPS enabled Micro ATMs to withdraw and accept payments. Small size retail shoppers and grocery stores in rural parts of India may also make use of Micro ATMs to provide banking services to their customers and earn some extra income. This is the reason why Micro ATMs have helped increase AEPS transactions significantly.

Choosing the Best AEPS Micro ATM Service Provider in India

So, if you want to boost your AEPS transactions, then look for a suitable AEPS Micro ATM service provider that has a user-friendly, secure, and simple platform to activate AEPS for banking transactions. Just integrate the service provider’s SDK into your app and start transacting through the merchant network. They must offer you compatible biometric devices that are updated with the latest POS features. 

The Micro ATM machine offered by the service provider should allow all card types for performing transactions. Also, give attention to the technical support offered by them to run your business transactions successfully and smoothly. Whether you are looking for transactions like Aadhar Card money withdrawal, balance enquiry, or mini statement, carry it out through AEPS Micro ATM and rest assured for safety and speed. With smaller investments, higher commission, and faster settlement, you can make a profitable business using AEPS Micro ATM service from a reputed company.

So, here you have learned what Micro ATM is, how it is boosting AEPS transactions in India, and how to choose the best AEPS Micro ATM service provider. If you are looking forward to starting AEPS Micro ATM transactions for your business, FidyPay provides you all-in-one AEPS Micro ATM solutions under one roof. Just integrate our SDK into your app and start transacting through the merchant network. The transactions can be completed in seconds, followed by a transaction receipt and a confirmation SMS. You just need to input your 12-digit Aadhaar number and select the bank name linked with your Aadhaar. 

Send us your query at care@fidypay.com or call us at +91 731 4986854 to avail of our services and for more information.

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