AePS service: Everything you need to know
The Indian economy is one of the dynamic and fast growing economies in the world. It is chasing the goal of becoming the third largest economy by 2028 and a developed nation by 2047. But, India needs constant reforms and corrections to stay on the target. To achieve holistic growth, India cannot progress by only developing cities, but it also needs to focus on its villages and remote areas. To facilitate last-mile banking, the Reserve Bank of India and National Payment Corporation of India have created a system called Aadhar Enabled Payment System or AePS. AePS service provider can provide seamless banking services in the areas where there is none or limited access to banks. All you want to know about AePS Started in 2020, AePS is a bank-led model that facilitates banking transactions through POS or Micro ATM based on the Aadhar details and biometrics of the customer. There is no need for the customers to visit the bank branches that are not usually located nearb...