4 Eko AePS Services Every Retailer Can Provide to Their Customers

Eko India Financial Services Pvt Ltd, founded in the year 2006, by Mr Abhinav Sinha and Mr Abhishek Sinha aims to ensure 24*7 banking services accessible to the unbanked sectors in India. Eko works in partnership with the largest banks in India to provide quick access to their banking services. Partnering with Eko to provide AePS and a range of other related services empower retailers to become a part of Digital India.

Aadhaar Enabled Payment System (AEPS) allows customers to carry out basic banking and non-banking transactions without having to approach a bank. The unbanked sector can carry out basic banking transactions at their nearest retail store through AePS. By using their Aadhar number and fingerprint, the customers can perform transactions without having to approach a bank or ATM.

Unlike the urban areas where banks and ATMs are at closer to homes and offices, the rural areas do not have quick access to banking services. In such areas, the local retailers, such as the grocery store, pharmacy or mobile recharge vendor can provide mini banking services by partnering with Eko.

Eko’s AePS helps retailers convert their shop into an ATM and offer mini banking services to their customers in the form of the cash deposit, cash withdrawal, and balance inquiry.

Cash Deposit

With Eko’s AePS services, retailers can provide Mini Banking Services to their customers. Enable unbanked customers to deposit cash without much formality using Eko AePS. Being an Aadhaar enabled service, all a customer needs to provide to deposit cash is their Aadhaar number and fingerprint. Retailers in the unbanked rural areas can provide such value-added services and encourage more walk-ins.

Cash Withdrawal

Retailers can use this facility to allow customers to withdraw cash through Eko’s AePS Cashout option. The process of withdrawing cash via Eko Connect is very easy as it only requires the customer’s Aadhaar number and fingerprint for verification.

Money Transfer

Retailers can use this facility to allow customers to transfer money with Eko’s Send Cash option using Eko Connect. Like every other transaction under AePS, domestic money transfer is an easy and effective method that allows customers to transfer money with their Aadhaar Number and fingerprint.

Balance Inquiry

Retailers can also help the customers check the balance available in their accounts by choosing the AePS option. Customers also have the option to download or print the mini statement to keep track of the account details as on that particular date.

How do I (retailer) benefit?

The retailers registered with Eko Connect earn a good commission for every transaction done through Eko. With instant onboarding and same-day settlement, Eko’s AePS is a great way for retailers to gain more regular customers and make more income.

Moreover, all our Eko partners become a part of digital India, enabling and empowering the people staying in unbanked rural areas to make use of digital technologies in a hassle-free manner. With Eko, the retailers can support the government in its financial inclusion program and Pradhan Mantri Jan Dhan Yojana (PMJDY) that aims to expand affordable access to financial services including remittances, insurance, credit, pensions etc.

Eko has already made a difference to how retailers and unbanked people carry out cash transactions. It has enabled retailers to earn extra income. Apart from these basic banking activities, retailers can also use Eko for paying monthly utilities such as electricity bills, water bills, etc.

Join India’s most trusted financial services provider now and become a part of digital India. Push open your doors to earning more with Eko’s AePS. Download Eko Connect and register instantly to start providing AePS services to your customers. For more details, please call 8448444380 or check out https://eko.in/products/aadhaar-banking.