Role of Micro ATMs in Augmentation of AEPS Transaction
Whether you are a business contributor or controller or operating as a Non-Banking Financial Company, AEPS transaction is a very neighborly term for you. Every mom-and-pop business that is providing banking services via AEPS, is always bothered about AEPS transactions. They all the time try to promote AEPS transactions so that they can obtain elevated commissions. Read on to learn how micro ATM is supporting small possessors to obtain growth in AEPS transactions as well as profit.
What is Micro ATM?
Micro ATM is a close-packed contrivance that is utilized to carry out fundamental banking transactions. Its operation is quite related to regular ATMs. This is a mini contrivance via which you can carry out cash deposits, cash withdrawals, balance inquiries, and mini statements.
Micro ATM machine was created to provide banking facilities nearer to consumers as a doorway. So that they can utilize banking services effortlessly and productively. However, this is a small contrivance that carries out all banking transactions. It diminishes the induction and operation cost of service as compared with banks or ATMs. In return, the bank delivers commissions to each and every business contributor as well as NBFCs who are supporting giving banking facilities.
In AEPS service, consumers utilize Aadhaar Card and Fingerprint attestation to carry out the transaction while if we talk about micro ATMs consumers can utilize debit cards to carry out the same transaction as AEPS. Commission on micro ATM and AEPS is the same. So we can say that micro ATMs are also part of AEPS.
How Micro ATM is Supporting Growing AEPS Transactions?
AEPS is an acronym for Aadhaar Enabled Payment System. AEPS system enables bank consumers to carry out fundamental banking transactions via Aadhaar attestation. Consumers whose Aadhaar card is connected to a bank account can utilize the AEPS facility via a specific identity number. AEPS service is introduced by NPCI to make a cashless society in India.
AEPS is aiding people in agricultural areas to utilize banking facilities hassle-free. Each and every banking transaction that is carried out is called an AEPS transaction.
Banks give commission on all AEPS transactions. To cut a long story short, we can say as much as AEPS transactions carried out by any business will obtain elevated profits.
Aadhaar corroboration is creating AEPS transactions very effortless and secured in agricultural and backcountry areas where banks and ATMs are not accessible.
But with the condition that when any consumer doesn't have an Aadhaar card or fingerprint attestation is not working?
Or if you are living in a place where an Aadhaar card is not initiated.
In this condition, micro ATMs play an essential role.
Micro ATMs enable banking transactions via debit card. Consumers can deposit, and withdraw money utilizing a debit card via a micro ATM.
Today countless business contributors are utilizing micro ATMs to withdraw or accept payments. Small grocery stores or retail purchasers are utilizing micro ATMs in agricultural areas to give banking services as additional income opportunities.
This is the reason for a boom in AEPS transactions due to micro ATMs.
Which is the Excellent Micro ATM Service Provider?
So if you want to boom your AEPS transactions and looking for an excellent micro ATM service giver, Roundpay is the best choice for you.
Roundpay is the foremost AEPS service giver company in India. We offer you an ultra-modern micro ATM machine unified in our AEPS portal. Our new micro ATM machine is modernized with adjoined mPOS features.
It signifies how retailers can utilize micro ATMs as well as mPOS in the same contrivance. Our micro ATM machine enables all kinds of cards to carry out transactions. Together with this, retailers can effortlessly connect devices to the controller mobile app via Bluetooth.
Conclusion
Here we acknowledged what is micro ATM, is and how it is supporting to escalate AEPS transactions. If you are looking to set up your banking business, Roundpay software gives you all one banking solution under a one-stop shop. Together with this, you can provide a vast range of services by unifying the b2b API solution in our affordable pos system.
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