How To Begin Profitable Aadhaar Enabled Payment System Business In India?

                 

When India is moving towards digitalization, aadhaar enabled payment system (AEPS) business is spreading all the while. Not just in rural regions but also in semi-rural and urban regions, it is expanding dramatically. The chief cause behind the expansion of AEPS is the simplest, quickest, and most safe payment method. This is India's most famous and quickly developing digital payment method over recent years.

The aadhaar enabled payment system AEPS is begun and managed by NPCI. This payment method permits all banking customers to utilize banking services via an Aadhaar card. To perform aadhaar enabled payment system AEPS transactions, a customer bank account should be linked with an Aadhaar card.

By utilizing Aadhaar banking or AEPS money transfer, a customer can carry out cash withdrawals, cash deposits, balance enquiry, and mini statements. Bank customers can withdraw up to 10,000/ - by utilizing an Aadhaar card in a day. If any customer has any desire to withdraw more, he/she can utilize the Aadhaar pay service via which they can withdraw up to the maximum limit that his bank provides.

On the off chance that any customer fails to remember their Aadhaar card, they can utilize a debit card to carry out transactions utilizing a Micro ATM.

Hence, we can say AEPS is a one-stop answer for all essential banking transactions. This is the explanation today’s youths, new entrepreneurs, and college pass outs are keen on beginning AEPS businesses in India.

Below, we have discussed the top 5 important steps to begin a profitable AEPS business in India.

Important Steps To Begin AEPS Service Business In India:

In this section, we will give you comprehensive data to begin a profitable AEPS business in India. This part will make it simple to begin and maintain an effective AEPS business in India.

1. Market Research

To begin an AEPS business, the main thing that you require is AEPS software. There are various AEPS service provider companies in India. So initial step that you need to follow is market research. You should do market research offline and online to figure out the best service provider for your business. As you probably are aware AEPS is a service-type business. Your service provider should be the best in the industry if you are in the service industry.

There are a couple of steps you can follow to make market research.

•  Do online research, go to Google and look through the best AEPS portal for admin
•  Note the best 5 companies listed on the Google search page
•  Call them, get some information about customers and enquiry about service
•  Converse with customers and get reviews about services
•  Check customer reviews on the site

So, these are a couple of steps you can follow to do market research.

2. Pick the Best AEPS Service Provider Company for Business

Subsequent to finishing research, reach a conclusion and pick the best AEPS service Provider Company in India. I might want to suggest you SOULPAY Software as the best one in this industry.

For more affirmation, get a demo of the portal, and attempt to grasp the features. Ensure your AEPS portal has each of the accompanying features:

• Aadhaar Pay Service
• Real-time AEPS settlement
• Multiple API Support
• Payout Feature
• Commission is High
• Easy API Integration
• Technical Assistance
• High Success Ratio
• Quality Website and Mobile App
• Easy to Use Panel
• Security is Essential

So, if your AEPS portal satisfies each of the above prerequisites, you can rate it well.

3. Legal Formalities

Subsequent to picking AEPS software, now you ought to fulfill a couple of legal formalities to begin a business. This will assist you with having all lawful evidence of your company. In the first place, you need to pick a name for your company. Subsequent to finishing the company name, you need to finish the accompanying steps:

•  Company Name Registration
•  Get GST Number
•  Get PIN Number

These are fundamental legal data that you should have If you are planning to maintain a business without hustle.

4. Domain Name and Web Hosting

In the subsequent step, you need to purchase your company domain and web hosting to run your portal and site. You can get it from Godaddy without any problem. Assuming you know nothing about this, your service provider can assist you with finishing this step.

5. Manual Training

This is to wrap things up. Subsequent to finishing each of the above steps now you have to take legitimate manual training on your portal. This training will permit you to figure out your portal and its features. In this training, you need to clear the entirety of your questions so you can utilize them at the ideal level and can create a huge profit.

Now you are prepared to establish your AEPS business in the market. You can make your downline and earn commission by giving AEPS services to your members.