AEPS In Banking

DigiPe is the flag ship retail agent format of YESKART PRIVATE LIMITED, working towards excellence in the Digital & Financial payments, and believe in pursuing business through innovation and technology.Banking ServicesDigital paymentsFinancial ServicesTravel ServicesMoney TransferAEPSBill paymentsPayment ServicesMobile RechargeDTH RechargePrepaid Cards

Micro ATMs are like the modified point of sales terminals this terminal can connect to the banking network via GPRS to perform banking transactions.

This machine contains a card swipe.

These machines are carried by a bank representative at remote/mobile locations.

These machines are handy and not capable of keeping any cash.

The cash is carried by the bank representative along with him/her.Benefits of using Micro ATM?One can extend banking services anywhere in the remote area using Micro ATM ServiceIt is a low-cost option for the existing ATMMicro ATM is a portable deviceEasy to carry, easy to set up anywhere in the remote areaInteroperable device and can work for any bankUseful to help people during the demonetization processDo eKYC for Wallet and RBL Bank’s Prepaid VISA Card.Open Wallet for customers.Withdraw cash @PoS using Rupay Cards.Using our AePS service, do Aadhaar-enabled payments or cash withdrawals from any Aadhaar-linked bank account (Micro ATM facility).Give Money Transfer Services (OMTS).Give a bouquet of other services, Recharges, Bill Payments, Wallet loading, etc.

You can add money to Mobile Wallets such as Wallet, Reliance Jio Money, Airtel Money and more.Accept card payments (VISA/Master/Rupay Card).Open bank accounts and do Aadhaar registration.

According Renub Research, India Payment Market will reach to INR 280.84 Trillion by 2027.In 2018, India launched UPI 2.0 with the aim to increase UPI with more use transactions.

India Online Payment Market will grow at staggering CAGR of 15.73% during 2020-2027.In India Prepaid payment instruments (PPIs) have remained limited to about 43 authorized prepaid payment instruments example gift cards, meal reimbursements and foreign exchange cards.

In the last 5 years, the credit cards issued number has grown from 211 lakh to over 550 lakh, and debit cards numbers has grown from 5,535 Lakh to over 8,000 Lakhs.

While the government and digital payment companies compelling for a cashless economy, the drawback probably lies in the lack of a procedure affecting the implementation of digital payment methods.

In India metro cities like Delhi, Mumbai, and Bengaluru have more options and facilities to do payments as compared to small cities and countryside’s.

This is one of the major hurdels which are affecting the growth of India digital payment industry.Renub Research report titled “India Payment Market & Volume by Digital Mode: UPI (Value, Volume, Revenue), NETC, (Value, Volume, Revenue), Bharat Bill Pay System (BBPS) (Value, Volume, Revenue), Existing Business Categories, New Business Categories, Categories Share in Transaction Volume, Channel Wise Split (Transaction Value), Cross-Border Remittances (Inflow, Outflow, Revenue), Credit Cards (Transactions Value, Transaction Volume), Debit Cards (Transaction Value, Volume), Revenue (Credit Card and Debit Card), ATM Transactions (Value, Volume, Revenue), Merchant Acquiring Revenue, VAS Revenue, AePs (Value, Volume, Revenue), Prepaid Payment Instruments (Value, Volume, Revenue) provides a detailed analysis of India Online Payment Market.Follow the link for the full report with detailed TOC and list of figures and tables: https://www.renub.com/india-payment-market-p.phpDigital Payment Modes - Market, Volume & Revenues breakup from 7 viewpoints1.

Due to the ever-changing technology environment, all new worthwhile solutions have to be built quickly & affordably with usability & scale in mind.

Building out apps & infrastructure needed to accomplish this is doable in-house but needs important investments from IT, operations, & engineering.

Offering these vital components is the major reason AEPs exist.

Teams are adopting AEPs more & more to solve most of the foundational obstacles which are intrinsic when building the scalable IoT applications.AEPs Are ExtensibleIn this modern world of enterprise software, the extensible IoT connectivity platforms differentiate themselves from their peers by being open to the new functionality.

For example, there are various start-ups & no few large conglomerates thrive on open-source software that they can modify & expand.

The extensibility facilitates the straightforward creation of entirely new enterprise systems.

These days, technology such as Aadhaar enabled payment solutions have made it easier for people to make their payments and conduct other important transactions online.