AePS transforms the banking services for better convenience

AePS is delivering the 4As' for financial inclusion to rural part of India, authentication of customer, availability of services, accessibility through AePS channel and affordability as it's free of cost to the customers.

Accessibility and availability are the most crucial aspects with respect to banking services. It’s not only about Rural, AePS is becoming a game changer in urban market as well. Mentioning one of the cases where AePS has become life savior, too. The lady is bedridden due to old age and other physical ailments. Due to technical and operational challenges, branch manager where she holds the pension account asked for her presence. Hence, she could not withdraw money though she had adequate balance in the account. On coming to know of her predicament, our Girgaon Branch ASM and Postman visited her home and gave her a withdrawal of Rs. 5,000 through AEPS. They also opened her account as well as her daughter's account. The lady was pleased with the service and profusely thanked. Note that this is not a remote part of the country, this is in South Mumbai the most posh area of Mumbai. AePS is making the banking services accessible to everyone at any time.

Big Push to Digital Payments through Debit Cards - Rationalization of Merchant Discount Rate (MDR) for RuPay Debit Card

National Payments Corporation of India (NPCI), announced rationalization of Merchant Discount Rate (MDR) for RuPay Debit Card transactions across Point of Sale (PoS), eCom and BharatQR Code based merchant transactions. The significant reduction in MDR is aimed at creating a cost effective value proposition for all stakeholders in the payments ecosystem thereby increasing merchant acceptance footprint across the country. This will support merchants to accept hi-value digital payments from the 830 mn debit cards.