All you need to know about aeps micro atm
You can pay for items, make cash deposits and withdrawals, check your status, and get a summary of your transaction. AEPS (aeps full form) has made it possible to secure payment transactions for your purchases without using cash or a credit card. Instead, you may deposit and withdraw some money, view your balance, and get a tiny statement utilizing a micro-ATM.
Micro ATMs can be used to access AEPS -
Card swipe ATMs with fingerprint sensors are known as micro-ATMs. These are useful because bank associates can transport them to faraway regions. In a nutshell, they’re small aeps micro atm.
A debit card is not required -
Typically, a debit card is used to transfer money or make payments against a purchase. This is avoided by using AEPS, which allows users to aeps cash withdrawal and make payments using their Aadhar card number and fingerprint.
Quick and safe -
Because Aadhaar is one-of-a-kind and based on an individual’s biometric data (iris/fingerprint), it decreases the risk of fraud. A receipt is generated after a successful transaction, and your bank also provides you an SMS about the transaction. It is not only safe but also quick and does not require several or complicated steps. When utilizing an ATM in a remote area, people are frequently overwhelmed. The aeps micro atm service provider can withdraw or deposit money with ease thanks to AEPS.
AEPS can also be used by shopkeepers and merchants to send funds -
Receiving payment is now as simple as making them. Shopkeepers and merchants may use aadhaar enabled payment system to send funds. This makes making and receiving payments more manageable for both parties.
Withdrawing Money
Micro ATMs aren’t designed to hold large amounts of currency. The banking correspondent carries cash with him, and you may complete a transaction by merely entering your Aadhaar number and fingerprint, as well as the quantity you wish to transfer. The aeps micro atm price is also very low that you can afford.
Deposit of cash
Cash can be deposited in the same way, and once the transaction is completed, a receipt is issued, plus your bank alerts you by sending SMS to your registered phone number.
Funds transfer from AADHAAR to AADHAAR
Shopkeepers and merchants employ this form of cash transfer as a payment option. The AEPS transfers funds from the customer’s account to the merchant site, and aadhar card money withdrawal is also available.
Balance inquiry
To check your balance, go to your local banking partner, enter the 12-digit Aadhaar number, and pick the transactions (in this example, balance inquiry) on the screen.
Conclusion
With micro Pos, every banking branch can reach out to far-flung rural areas. The purpose of aeps micro atm service provider in India is to bring banking to the rural sector’s underserved customers. Banking has not yet been fully adopted in rural areas. There are some areas of the country where there isn’t even an ATM. A financial correspondent may reach such locations with the Micro ATM on hand.
